Director Melanie Healey Disposes of Kenvue Holdings in Kimberly-Clark Merger

Executive Summary

On November 4, 2026, a Form 4 was filed for Melanie Healey, a Director of Kenvue Inc. (NYSE: KVUE), reporting the disposition of all equity holdings effective November 2, 2026. These transactions occurred as a result of the consummation of Kenvue Inc.'s acquisition by Kimberly-Clark Corporation ("K-C"). Following these transactions, the reporting owner holds zero shares and zero derivative units in Kenvue.

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Transaction Breakdown

1. Common Stock Disposition:

   • Shares Disposed: 151 shares
   • Transaction Code: D (Disposition to the issuer or disposition in connection with a merger)
   • Merger Consideration: Under the merger agreement, each share of Kenvue Common Stock was converted into the right to receive 0.14625 shares of Kimberly-Clark common stock and $3.50 in cash.
   • Post-Transaction Beneficial Ownership: 0 shares.

2. Derivative Securities (Deferred Share Units - DSUs):

   • Units Disposed/Converted: 37,794.80 DSUs
   • Transaction Code: D
   • Conversion Details: Each DSU was assumed and converted into a Kimberly-Clark stock unit award covering a number of K-C shares determined by the equity award exchange ratio outlined in the Merger Agreement.
   • Post-Transaction Beneficial Ownership: 0 units.

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Market & Trading Significance

• Significance Level: Low
• Rationale: The dispositions are entirely non-discretionary, mandatory corporate actions resulting from the completed merger between Kenvue Inc. and Kimberly-Clark Corporation. The filing marks the cessation of Section 16 reporting obligations (notSubjectToSection16 = 1) and does not reflect any discretionary open-market sentiment or insider divergence.