SEC FORM 4

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^*

Howell Melissa A

(Last)

(First)

(Middle)

412 N. WELLS STREET

(Street)

CHICAGO

60654

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
KELLANOVA [ K ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
10/26/2023

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								50,573⁽¹⁾	D

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)
Restricted Stock Units⁽²⁾	⁽³⁾	10/26/2023⁽⁴⁾		A		26,418		02/16/2024⁽⁵⁾	02/16/2024⁽⁵⁾	Common	26,418	$0.0000	26,418⁽⁶⁾	D
Restricted Stock Units⁽⁷⁾	⁽³⁾	10/26/2023⁽⁴⁾		A		28,400		02/21/2025⁽⁸⁾	02/21/2025⁽⁸⁾	Common	28,400	$0.0000	28,400⁽⁶⁾	D

Explanation of Responses:

1. Excludes dividends reinvested after January 1, 2023.

2. Represent 2021-2023 Executive Performance Plan awards granted under the Kellanova Performance Stock Unit ("PSU") Plan (formerly known as the "Executive Performance Plan").

3. Each restricted stock unit represents a contingent right to receive one share of Kellanova common stock.

4. On October 26, 2023, the Kellanova Compensation and Talent Management Committee determined the actual performance through the effective time of the Distribution (as defined below) of the PSU Plan Awards.

5. The restricted stock units vest over three years and vest on the date of the Board meeting that occurs closest to the third anniversary of the grant date, which is expected to occur on February 16, 2024.

6. On October 2, 2023, Kellanova completed a pro rata spinoff distribution ("Distribution") of all of its shares of WK Kellogg Co. In connection with the Distribution, pursuant to the terms of the Employee Matters Agreement, dated as of September 29, 2023 by and between Kellanova and WK Kellogg Co, equity awards held by the Reporting Person were equitably adjusted.

7. Represent 2022-2024 Preformance Stock Unit awards granted under the Kellanova PSU Plan (formally known as the "Executive Performance Plan").

8. The restricted stock units vest over three years and vest on the date of the Board meeting that occurs closest to the third anniversary of the grant date, which is expected to occur on February 21, 2025.

	John Min, Attorney-in-Fact	10/30/2023
	** 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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