09/11/2025 | Press release | Distributed by Public on 09/11/2025 14:02
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) |
4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Options (Right to Buy) | $28.3 | 08/05/2025 | A | 750,000(1)(2)(3) | (4) | 08/05/2035 | Common Stock | 750,000 | $ 0 | 750,000 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
ETTINGER JEFFREY M 1 HORMEL PLACE AUSTIN, MN 55912 |
X | Interim CEO |
/s/ Benjamin S. Borden, Attorney-In-Fact | 09/11/2025 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | This Form 4/A is filed to correct the description of the stock option grant made to the Reporting Person on August 5, 2025 (the "August Stock Option Grant") and reported on a Form 4 filed August 7, 2025 (the "Original Form 4"). |
(2) | The Original Form 4 reported in Table Two, Columns Five and Seven, that the August Stock Option Grant represented a right to purchase up to 1,058,800 shares of Issuer Common Stock. As reflected on this Form 4/A, the number of shares of Issuer Common Stock subject to the August Stock Option Grant was automatically capped at 750,000 shares by operation of an annual individual participation limit in the Hormel Foods Corporation 2018 Incentive Compensation Plan. |
(3) | The difference in value between the August Stock Option Grant reported on the Original Form 4 and this Form 4/A is expected to be granted to the Reporting Person as a stock option grant in early calendar year 2026. |
(4) | As reported on the Original Form 4, the option vests in two equal installments, with the first group vesting on October 25, 2026, and the second group vesting on April 25, 2027. |