Kenvue Inc. Chief Operations Officer Meredith Stevens filed a Form 4 on November 4, 2026, disclosing the disposition of all directly held common stock and equity awards in Kenvue Inc. (NYSE:KVUE) on November 2, 2026, following the completion of Kenvue's acquisition by Kimberly-Clark Corporation.

Key Highlights

  • Merger closed November 2, 2026: Kimberly-Clark Corporation acquired Kenvue pursuant to an Agreement and Plan of Merger dated November 2, 2025, among the company, K-C, Vesta Sub I, Inc., and Vesta Sub II, LLC.
  • Common stock exchanged: 114,183 shares of Kenvue common stock were disposed of, with zero shares remaining directly held after the transaction.
  • Merger consideration per share: Each share of Kenvue common stock was exchanged for 0.14625 shares of K-C common stock plus $3.50 in cash, according to the filing.
  • Seven tranches of stock options converted: Options with exercise prices ranging from $19.01 to $23.92 per share, covering a combined 810,155 shares, were assumed and converted into K-C options under the Equity Award Exchange Ratio, with zero Kenvue options remaining.
  • RSUs converted: 115,118 restricted stock units were assumed and converted into equivalent K-C awards; zero Kenvue RSUs remain.
  • PSUs settled and converted: Performance stock units granted December 7, 2023 converted at 128.3% of target achievement; PSUs granted in 2024 and 2025 converted at 100% of target, as determined by the Compensation and Human Capital Committee.

Kenvue COO Stevens Reports Full Equity Conversion Following Kimberly-Clark Acquisition

According to the filing, on November 2, 2026, Kimberly-Clark Corporation completed its acquisition of Kenvue Inc. under the terms of an Agreement and Plan of Merger dated November 2, 2025. The merger parties included K-C, Vesta Sub I, Inc. (a direct wholly owned subsidiary of K-C), and Vesta Sub II, LLC (also a direct wholly owned subsidiary of K-C). As a result of the merger, all of Chief Operations Officer Meredith Stevens's directly held Kenvue equity was either exchanged or converted into equivalent K-C awards.

The filing reports that Stevens's 114,183 shares of Kenvue common stock were disposed of, with the merger consideration consisting of 0.14625 shares of K-C common stock (par value $1.25 per share) plus $3.50 in cash for each Kenvue share. Seven tranches of stock options with exercise prices of $19.01, $20.32, $20.81, $21.97, $22.23, $22.40, and $23.92 per share were assumed and converted into options to acquire K-C common stock, with share counts and exercise prices adjusted according to the Equity Award Exchange Ratio defined in the Merger Agreement. Following conversion, Stevens holds zero Kenvue options.

The 115,118 Kenvue restricted stock units held by Stevens were assumed and converted into K-C RSU awards covering a number of K-C shares calculated using the same Equity Award Exchange Ratio, subject to the same terms and conditions that applied prior to the merger's effective time, the filing states. Performance stock units were handled separately by award vintage: those granted on December 7, 2023 converted based on 128.3% of target achievement as determined by the Compensation and Human Capital Committee, while PSUs granted in 2024 and 2025 converted based on 100% of target achievement. After all transactions, Stevens holds zero Kenvue PSUs. The Form 4 was signed by Pinto Adhola as attorney in fact on November 4, 2026.

What Was Disclosed

Meredith Stevens, Chief Operations Officer of Kenvue Inc. (NYSE:KVUE), disclosed the full conversion or exchange of all directly held Kenvue common stock, stock options, restricted stock units, and performance stock units on November 2, 2026, upon the closing of Kimberly-Clark Corporation's acquisition of Kenvue.