SEC Form 4 · accession 0001179110-15-015591
HORMEL FOODS CORP /DE/ · HRL
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven G Binder
Officer — Executive Vice President
Period of report
Nov 30, 2015
Accepted (ET)
Dec 2, 2015 · 4:52 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000048465
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common Stock | Nov 30, 2015 | M | 30,000 | $20.07 | A | 35,749 | D | |
| Common Stock | Nov 30, 2015 | F | 8,026 | $75.01 | D | 27,723 | D | |
| Common Stock | Nov 30, 2015 | F | 10,592 | $75.01 | D | 17,131 | D | |
| Common Stock | Nov 30, 2015 | G | 11,382 | $0.00 | D | 5,749 | D | |
| Common Stock | Nov 30, 2015 | G | 11,382 | $0.00 | A | 73,249 | I | Spouse's Revocable Trust |
| Common Stock | Dec 1, 2015 | J | 95,000 | $75.865 | D | 0 | I | GRAT |
| Common Stock | Dec 1, 2015 | J | 95,000 | $75.865 | A | 168,249 | I | Spouse's Revocable Trust |
| Common StockF2 | Dec 2, 2015 | S | 10,000 | $75.504 | D | 158,249 | I | Spouse's Revocable Trust |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F3 | $20.07 | Nov 30, 2015 | M | 30,000 | D | — | Dec 4, 2017 | Common Stock | 30,000 | 30,000 | D |
| Stock Options (Right to Buy)F4 | $75.51 | Dec 1, 2015 | A | 51,900 | A | — | Dec 1, 2025 | Common Stock | 51,900 | 51,900 | D |
Explanation of responses
- F1This transaction represents a substitution of assets in which 95,000 shares of stock were transferred from the Reporting Person's GRAT to his spouse's revocable trust in exchange for other assets.
- F2Reflects the weighted average price of 10,000 shares of common stock of Hormel Foods Corporation sold by the Reporting Person in multiple transactions on December 2, 2015 with sale prices ranging from $75.40 to $75.67 per share. The Reporting Person undertakes to provide upon request by the U.S. Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
- F3The option vested in four equal annual installments, with the first group vesting on December 4, 2008.
- F4The option vests in four equal annual installments, with the first group vesting on December 1, 2016.