Kenvue Director Disposes of Holdings in Connection with Kimberly-Clark Merger

Executive Summary

On November 4, 2026, Kenvue Inc. director Michael E. Sneed filed a Form 4 reporting the disposition of all equity holdings in connection with the closing of the company's acquisition by Kimberly-Clark Corporation ("K-C") on November 2, 2026.

Transaction Analysis

• Common Stock: Mr. Sneed disposed of 10,787 shares of Common Stock (Transaction Code 'D'). In accordance with the Merger Agreement, each share was exchanged for 0.14625 shares of K-C common stock plus $3.50 in cash.
• Derivative Holdings: 37,794.81 Deferred Share Units (DSUs) were disposed of/converted into K-C stock unit awards based on the equity award exchange ratio outlined in the Merger Agreement.
• Post-Transaction Holdings: Following the effective time of the merger, the reporting owner owns 0 shares of Kenvue common stock and 0 derivative units, terminating Section 16 reporting obligations.

Trading Significance

This disposition was executed pursuant to a previously announced Agreement and Plan of Merger and represents a structural liquidation/conversion rather than an open-market, discretionary trade. Consequently, this transaction carries Low trading significance for market participants.