Kenvue General Counsel Disposes of Holdings via Kimberly-Clark Merger

Executive Summary

On November 2, 2026, Matthew Orlando, General Counsel of Kenvue Inc. ($KVUE), disposed of all direct common stock holdings and derivative securities in connection with the consummation of the merger with Kimberly-Clark Corporation ('K-C'). As a result, the insider's beneficial ownership in Kenvue Inc. was reduced to zero.

Transaction Details

• Common Stock: 20,394 shares of Common Stock were disposed of pursuant to the merger agreement, where each share of Kenvue common stock was exchanged for 0.14625 shares of K-C common stock plus $3.50 in cash.
• Derivative Securities: Multiple tranches of stock options, restricted stock units (RSUs), and performance stock units (PSUs) were assumed and converted into corresponding K-C equity awards based on the merger agreement's Equity Award Exchange Ratio formula.

Market Significance

This Form 4 represents an involuntary administrative disposition resulting from a completed corporate merger transaction rather than discretionary open-market buying or selling. Consequently, this event carries Low trading significance for market sentiment.