SEC FORM 4

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Malone Mary Alice Dorrance JR

(Last)

(First)

(Middle)

1 CAMPBELL PLACE

(Street)

CAMDEN

08103

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
CAMPBELL'S Co [ CPB ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/06/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	01/06/2026		J⁽¹⁾		26,741,880	D	$27.01	13,218,457	I	Mary Alice Dorrance Malone Revocable Trust⁽²⁾
Common Stock								18,426,809	I	Contango Limited LP⁽³⁾
Common Stock								4,271,414	I	Quizhou, LP⁽⁴⁾
Common Stock								17,274,200	I	Consul FL, LLC⁽⁵⁾
Common Stock								80,572	I	Mary Alice Malone, Jr. Management Trust⁽⁶⁾
Common Stock								467,147	I	GRAT 9 Follow-On Trust fbo Mary Alice Malone, Jr.⁽⁶⁾
Common Stock								14,554	I	1984 Trust fbo Mary Alice Malone, Jr.⁽⁶⁾
Common Stock								14,554	I	1984 Trust fbo Catherine Dorrance Malone⁽⁷⁾
Common Stock								1,333	I	Hera Management LLC⁽⁸⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Reflects transfer of shares from the Mary Alice Dorrance Malone Revocable Trust to two family partnerships and one family LLC in exchange for cash pursuant to a substitution of assets. Ms. Malone, Jr. disclaims beneficial ownership of the shares held by such entities except in each case to the extent of her respective pecuniary interest therein.

2. Ms. Malone, Jr. is co-beneficiary and co-trustee of the trust. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

3. Held by Contango Limited LP, of which Hera Management LLC, of which Ms. Malone, Jr. is a co-manager, is the general partner. Reflects transfer of 5,196,266 shares from the Mary Alice Dorrance Malone Revocable Trust to Contango Limited LP on 1/6/26. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

4. Held by Quizhou, LP, of which Grandjaero Management, LLC, of which Ms. Malone, Jr. is a co-manager, is the general partner. Reflects transfer of 4,271,414 shares from the Mary Alice Dorrance Malone Revocable Trust to Quizhou, LP on 1/6/26. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

5. Held by Consul FL, LLC, of which Ms. Malone, Jr. is a co-manager. Reflects transfer of 17,274,200 shares from the Mary Alice Dorrance Malone Revocable Trust to Consul FL, LLC on 1/6/26. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

6. Ms. Malone, Jr. is the beneficiary and co-trustee of the trust.

7. Ms. Malone, Jr. is a co-trustee and a remainder beneficiary of the trust. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

8. Held by Hera Management LLC, of which Ms. Malone, Jr. is a co-manager. Ms. Malone, Jr. disclaims beneficial ownership of all of these shares except to the extent of her pecuniary interest therein.

Remarks:

	Marci K. Donnelly, Attorney-in-Fact	01/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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