Kenvue Inc. Officer Disposes Equity Holdings in Merger Acquisition

Executive Summary

On November 4, 2026, Russell Dyer, Chief Corporate Affairs Officer of Kenvue Inc. ($KVUE), filed a Form 4 disclosing the disposition of all held equity interests effective November 2, 2026. This disposition reflects the completion of the acquisition of Kenvue Inc. by Kimberly-Clark Corporation ("K-C").

Transaction Details

• Security: Common Stock
• Transaction Code: D (Disposition pursuant to merger)
• Shares Disposed: 4,101 shares
• Post-Transaction Ownership: 0 shares
• Merger Consideration: In accordance with the merger agreement, each share of Kenvue Common Stock was exchanged for 0.14625 shares of K-C Common Stock plus $3.50 in cash.

Derivative Securities Disposition & Assumption

• Stock Options: 68,389 options (exercise price $19.24) and 52,325 options (exercise price $23.92) were assumed and converted into options to acquire K-C Common Stock adjusted by the Equity Award Exchange Ratio.
• Restricted Stock Units (RSUs): 52,628 RSUs were converted into equivalent K-C equity awards.
• Performance Stock Units (PSUs): 38,521 PSUs were converted into K-C stock unit awards at 100% of target achievement.

Market & Trading Significance

This filing carries Low trading significance for market participants because it does not represent discretionary open-market buying or selling. Rather, it represents the standard cancellation, exchange, and conversion of company equity holdings following the closing of the merger between Kenvue Inc. and Kimberly-Clark Corporation.