Director Kathleen M. Pawlus filed a Form 4 with the SEC on November 4, 2026, disclosing the disposition and conversion of 25,797.06 deferred share units in connection with Kimberly-Clark Corporation's acquisition of Kenvue Inc. on November 2, 2026.

Key Highlights

  • Merger closed November 2, 2026: Kimberly-Clark Corporation acquired Kenvue Inc. pursuant to an Agreement and Plan of Merger dated November 2, 2025.
  • Merger consideration: Each share of Kenvue common stock was exchanged for 0.14625 shares of K-C common stock (par value $1.25 per share) plus $3.50 in cash.
  • DSUs disposed: Pawlus held 25,797.06 deferred share units, each representing the right to receive one share of Kenvue common stock, which were disposed of on November 2, 2026.
  • DSUs converted to K-C awards: The DSUs were assumed and converted into Kimberly-Clark stock unit awards covering a number of K-C shares determined by an equity award exchange ratio under the Merger Agreement.
  • Remaining DSU balance: Following the transaction, Pawlus's beneficial ownership of Kenvue DSUs is reported as 0.
  • Reporting person role: Kathleen M. Pawlus is identified as a Director of Kenvue Inc. (NASDAQ:KVUE).

Pawlus DSU Holdings Converted as Kenvue Merger with Kimberly-Clark Takes Effect

According to the filing, Kimberly-Clark Corporation, described as a Delaware corporation, completed its acquisition of Kenvue Inc. on November 2, 2026, under the terms of a merger agreement entered into on November 2, 2025. The parties to the agreement, as identified in the filing, included Kenvue Inc., Kimberly-Clark Corporation, 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).

The filing discloses that each share of Kenvue common stock was converted into merger consideration consisting of two components: 0.14625 shares of Kimberly-Clark common stock, with a par value of $1.25 per share, and $3.50 in cash. As a result of the merger, Director Kathleen M. Pawlus's 25,797.06 deferred share units - each of which represented the right to receive one share of Kenvue common stock - were disposed of on November 2, 2026, leaving a reported balance of zero Kenvue DSUs.

The filing further states that pursuant to the Merger Agreement, each DSU was assumed and converted into a Kimberly-Clark stock unit award. The number of K-C shares covered by the converted award is determined by multiplying the number of shares of Kenvue common stock subject to the DSU immediately prior to the effective time (including any additional DSUs credited as dividend equivalent rights) by an equity award exchange ratio specified in the Merger Agreement. The filing notes the converted awards remain subject to the same terms and conditions that applied prior to the effective time. The Form 4 was signed by Pinto Adhola as attorney in fact on November 4, 2026.

What Was Disclosed

Director Kathleen M. Pawlus disclosed the disposition of 25,797.06 Kenvue deferred share units and their conversion into Kimberly-Clark stock unit awards following the closing of K-C's acquisition of Kenvue Inc. on November 2, 2026.