Hormel Foods (HRL) director receives 2,492 phantom stock units under 2026 equity plan

Rhea-AI Filing Summary

Policinski Christopher J. reported acquisition or exercise transactions in this Form 4 filing.

Hormel Foods Corp. director Christopher J. Policinski received an equity-based award of phantom stock units tied to the company’s common stock. The grant covers 2,491.7200 units at a reference value of $22.6500 per unit, increasing his directly held equivalent common stock units to 124,912.3260.

The units were granted under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan pursuant to the 2026 Equity and Incentive Compensation Plan. Each phantom stock unit equals one share of common stock and is payable, in shares, after his service as a director ends or upon certain change-in-control separation events.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Policinski Christopher J.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,491.72	$22.65	$56K

Holdings After Transaction: Common Stock — 124,912.326 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 stock units granted: 2,491.7200 units Reference value per unit: $22.6500 per unit Total units after transaction: 124,912.3260 units

3 metrics

Phantom stock units granted 2,491.7200 units Nonemployee Director Deferred Stock Subplan grant

Reference value per unit $22.6500 per unit Phantom stock unit grant value

Total units after transaction 124,912.3260 units Director’s directly held equivalent common stock units

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

"for deferrals under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan pursuant to the Hormel Foods Corporation 2026 Equity and Incentive Compensation Plan"

2026 Equity and Incentive Compensation Plan financial

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

dividend equivalents financial

"Includes phantom stock units received by the Reporting Person upon conversion of dividend equivalents under the Hormel Foods Corporation Nonemployee Director Deferred Stock Subplan"

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^*

Policinski Christopher J.

(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)		Other (specify below)

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		2,491.72(1)	A	$22.65	124,912.326(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 Christopher J. Policinski report on this Form 4?

Christopher J. Policinski reported receiving 2,491.7200 phantom stock units tied to Hormel Foods common stock. The award was granted under the Nonemployee Director Deferred Stock Subplan within the 2026 Equity and Incentive Compensation Plan, increasing his directly held equivalent units to 124,912.3260.

How many Hormel Foods (HRL) phantom stock units were granted to the director?

The director was granted 2,491.7200 phantom stock units, each equivalent to one Hormel Foods common share. The reference value was $22.6500 per unit, and the award is structured as a deferred equity-based compensation grant under the company’s nonemployee director deferred stock program.

When do the Hormel Foods (HRL) phantom stock units become payable to the director?

The phantom stock units become payable in shares of common stock after the director’s service ends. They are distributed on February 15 of the year following termination of service, or a later elected date, and can be paid in a lump sum or up to ten annual installments.

How are the Hormel Foods (HRL) phantom stock units affected by a change in control?

If the director separates from service within six months following a change in control, the phantom stock units become payable immediately. In that case, they are settled in a single lump-sum payment of Hormel Foods common stock, as defined in the 2026 Equity and Incentive Compensation Plan.

Do the Hormel Foods (HRL) phantom stock units include dividend equivalents?

Yes. The reported holdings include phantom stock units received upon conversion of dividend equivalents. These dividend equivalents accrued under the Nonemployee Director Deferred Stock Subplan since the director’s last filing, increasing the overall number of deferred units reported in this Form 4 transaction.

What is the total Hormel Foods (HRL) equity-equivalent position held after this Form 4 transaction?

After the reported grant, the director’s directly held equivalent common stock units total 124,912.3260. This figure reflects the new phantom stock award and additional phantom units received from dividend equivalents since his previous filing under the deferred stock subplan.