Ghingo John F 4

What Happened
John F. Ghingo, President and a director of Hormel Foods (HRL), received two equity awards on February 2, 2026: 32,707 restricted stock units (RSUs) and 201,000 stock options. Both awards were reported as grants (transaction code A) with $0 cash paid at grant. The RSUs will convert to shares if/when they vest; the options are a derivative award that gives the right to acquire shares subject to vesting and plan terms.

Key Details

• Transaction date: February 2, 2026; Form 4 filed February 4, 2026 (appears timely within the usual two-business-day window).
• Awards: 32,707 RSUs and 201,000 stock options; reported price $0.00 (no cash paid at grant).
• Vesting: RSUs vest three years after the grant date (Footnote F1). Options vest in four equal annual installments, with the first installment vesting on Feb 2, 2027 (Footnote F2).
• Shares owned after transaction: Not disclosed in this filing.
• Other: Exhibit 24 (Power of Attorney) included. Transaction reported as grants (A); no sale or purchase occurred.

Context
RSUs are typically settled in shares (or cash) when they vest and are taxable as compensation at vesting; stock options give the holder the right to buy shares later if and when vested and exercised. Awards like these are common components of executive compensation and do not represent an open-market buy or sell. This filing documents the grant terms and vesting schedule but does not indicate any immediate cash flow or change in market holdings.