Kenvue Director Disposes of Deferred Share Units in Kimberly-Clark Merger

Executive Summary

On November 4, 2026, Kenvue Inc. ($KVUE) filed a Form 4 detailing transactions by Director Sarah Hofstetter. On November 2, 2026, Hofstetter disposed of 24,828.06 Deferred Share Units (DSUs) under transaction code 'D'. Following this event, Hofstetter holds 0 direct DSUs in Kenvue.

Transaction Details

• Security: Deferred Share Units
• Transaction Date: November 2, 2026
• Shares Disposed: 24,828.06
• Transaction Code: D (Disposition to the issuer / merger cancellation)
• Post-Transaction Direct Ownership: 0 shares

Merger Context & Rationale

Per the footnotes, the disposition was executed pursuant to the Agreement and Plan of Merger dated November 2, 2025, in which Kimberly-Clark Corporation ('K-C') acquired Kenvue Inc. Under the terms of the merger:

• Each share of Kenvue Common Stock was exchanged for 0.14625 shares of K-C Common Stock plus $3.50 in cash.
• Each Kenvue DSU was assumed and converted into a K-C stock unit award covering K-C Common Stock based on the contractual equity award exchange ratio.

Trading Significance

This filing carries Low trading significance as it represents non-discretionary equity treatment and conversion resulting from the consummation of a corporate acquisition rather than open-market buying or selling.