Hormel Foods (NYSE: HRL) director granted 6,721.85 phantom stock units

Rhea-AI Filing Summary

Newlands William A reported acquisition or exercise transactions in this Form 4 filing.

Hormel Foods director William A. Newlands received a grant of 6,721.85 phantom stock units of common stock at a reference price of $22.65 per unit. Each phantom stock unit equals one share of common stock and is issued under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan.

The units are payable in shares of common stock in either a lump sum or up to ten annual installments after his service as a director ends, or in a lump sum if he separates within six months following a change in control. Following this grant, Newlands holds a total of 58,133.82 phantom stock units.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Newlands William A

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	6,721.85	$22.65	$152K

Holdings After Transaction: Common Stock — 58,133.82 shares (Direct)

Footnotes (1)

1. Represents phantom stock units for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan (the "2026 Equity and Incentive Compensation Plan"). Each phantom stock unit is the equivalent of one share of common stock. The phantom stock units become payable in shares of common stock in one lump sum, or in up to ten annual installments, at the election of the Reporting Person, on February 15 of the year following termination of service as a director, or such later date as is elected by the Reporting Person. In addition, the phantom stock units become payable in shares of common stock in one lump sum immediately upon a director's separation from service within six months following a change in control (as defined in the 2026 Equity and Incentive Compensation Plan). Includes phantom stock units received by the Reporting Person upon conversion of dividend equivalents under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan since the date of the Reporting Person's last filing through the date of the reported transaction.

Key Figures

Phantom units granted: 6,721.85 units Reference price per unit: $22.65 per unit Total phantom units after grant: 58,133.82 units +1 more

4 metrics

Phantom units granted 6,721.85 units Grant of phantom stock units on 2026-03-31

Reference price per unit $22.65 per unit Value used for the 2026-03-31 grant

Total phantom units after grant 58,133.82 units Holdings following reported transaction

Installment cap 10 annual installments Maximum payout schedule after director service ends

Key Terms

phantom stock units, Nonemployee Director Deferred Stock Subplan, 2026 Equity and Incentive Compensation Plan, dividend equivalents

4 terms

phantom stock units financial

"Represents phantom stock units for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan"

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Nonemployee Director Deferred Stock Subplan financial

"Represents phantom stock units for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan"

2026 Equity and Incentive Compensation Plan financial

"pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan"

dividend equivalents financial

"Includes phantom stock units received ... upon conversion of dividend equivalents"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Newlands William A

(Last) (First) (Middle)

1 HORMEL PLACE

(Street)

AUSTIN MINNESOTA 55912

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HORMEL FOODS CORP /DE/ [ HRL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Chairman of the Board

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/31/2026		A		6,721.85(1)	A	$22.65	58,133.82(2)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents phantom stock units for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan (the "2026 Equity and Incentive Compensation Plan"). Each phantom stock unit is the equivalent of one share of common stock. The phantom stock units become payable in shares of common stock in one lump sum, or in up to ten annual installments, at the election of the Reporting Person, on February 15 of the year following termination of service as a director, or such later date as is elected by the Reporting Person. In addition, the phantom stock units become payable in shares of common stock in one lump sum immediately upon a director's separation from service within six months following a change in control (as defined in the 2026 Equity and Incentive Compensation Plan).

2. Includes phantom stock units received by the Reporting Person upon conversion of dividend equivalents under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan since the date of the Reporting Person's last filing through the date of the reported transaction.

Remarks:

	/s/ Benjamin S. Borden, Attorney-In-Fact	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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 Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Hormel Foods (HRL) director William A. Newlands report on this Form 4?

William A. Newlands reported receiving 6,721.85 phantom stock units of Hormel Foods common stock. These units were granted under the Nonemployee Director Deferred Stock Subplan at a reference price of $22.65 per unit as part of his director compensation.

What are phantom stock units in the Hormel Foods (HRL) director plan?

Phantom stock units are bookkeeping entries that mirror Hormel Foods common stock. Each unit equals one share and is paid out in actual shares later, under the Nonemployee Director Deferred Stock Subplan and the 2026 Equity and Incentive Compensation Plan.

When will William A. Newlands receive actual Hormel Foods (HRL) shares for these phantom units?

The phantom stock units become payable in Hormel Foods common shares after Newlands’ service as a director ends. He can elect a lump sum or up to ten annual installments, or a lump sum if separation occurs within six months after a change in control.

How many Hormel Foods (HRL) phantom stock units does Newlands hold after this transaction?

After this grant, William A. Newlands holds 58,133.82 phantom stock units tied to Hormel Foods common stock. This total includes units granted in this transaction and prior phantom units, including those from dividend-equivalent conversions since his last filing.

Was this Hormel Foods (HRL) Form 4 a market purchase or sale of shares?

No, this Form 4 reflects a grant of 6,721.85 phantom stock units as director compensation, not an open-market trade. The units are deferred and will be settled in Hormel Foods common shares at future payout dates determined under plan rules.

How do dividend equivalents affect Newlands’ Hormel Foods (HRL) phantom stock balance?

Dividend equivalents credited under the Nonemployee Director Deferred Stock Subplan are converted into additional phantom stock units. Newlands’ reported total includes such units received from dividend-equivalent conversions since his previous Form 4 filing.