(HRL)

Role: Director
Signature: /s/ Christopher J. Policinski, by Power of Attorney
Stock symbol: HRL
Transactions as of: Mar 31, 2023
Transactions value $: $56,437
Form type: 4
Date filed: 4/4/2023, 09:43 AM
Previous filing: Mar 30, 2023
Next filing: May 25, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HRL	Common Stock	Award	$56.4K	+1.42K	+1.56%	$39.88	92.2K	Mar 31, 2023	Direct	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of phantom stock is the equivalent of one share of common stock. The shares of phantom stock become payable in common stock in one lump sum, or in up to ten annual installments, at the election of the reporting person, on February 15 of the year following termination of service as a director, or such later date as is elected by the reporting person. In addition, the shares of phantom stock become payable in common stock in one lump sum immediately upon a director's separation from service within six months following a change of control (as defined in the Plan).
F2	Reflects additional phantom stock units received by the Reporting Person upon conversion of dividend equivalents from September 30, 2022 to the present.

Content

Each share of phantom stock is the equivalent of one share of common stock. The shares of phantom stock become payable in common stock in one lump sum, or in up to ten annual installments, at the election of the reporting person, on February 15 of the year following termination of service as a director, or such later date as is elected by the reporting person. In addition, the shares of phantom stock become payable in common stock in one lump sum immediately upon a director's separation from service within six months following a change of control (as defined in the Plan).

Reflects additional phantom stock units received by the Reporting Person upon conversion of dividend equivalents from September 30, 2022 to the present.