Hawkins ESOP Cuts Stake to 10.7%, Holding 2.05M Shares

TL;DR

**Hawkins ESOP cut its stake to 10.7% as of Dec 31, 2023, holding 2.05M shares.**

AI Summary

The Hawkins, Inc. Employee Stock Ownership Plan and Trust (ESOP) filed an amended SC 13G/A on February 7, 2024, indicating its ownership of 2,056,234 shares of Hawkins, Inc. common stock as of December 31, 2023. This represents 10.7% of the company's outstanding shares, a decrease from its previous reported ownership. This matters to investors because a significant reduction in ESOP ownership could signal a change in employee sentiment or a strategic shift in the company's compensation structure, potentially impacting stock stability.

Why It Matters

A decrease in employee stock ownership could indicate a shift in employee confidence or a change in the company's share distribution strategy, which might affect long-term stock stability.

Risk Assessment

Risk Level: medium — A reduction in ESOP ownership can sometimes signal internal concerns or a change in employee incentives, which could introduce moderate risk for investors.

Analyst Insight

Investors should monitor future filings for further changes in ESOP ownership and consider if this trend reflects broader internal sentiment or strategic shifts within Hawkins, Inc. This filing alone doesn't warrant immediate action but suggests a need for deeper due diligence.

Key Numbers

• 2,056,234 — Shares Owned (The total number of Hawkins, Inc. common stock shares beneficially owned by the ESOP as of December 31, 2023.)
• 10.7% — Percentage of Class (The percentage of Hawkins, Inc. common stock outstanding beneficially owned by the ESOP as of December 31, 2023.)

Key Players & Entities

• Hawkins, Inc. Employee Stock Ownership Plan and Trust (company) — the reporting person and owner of the shares
• Hawkins, Inc. (company) — the issuer of the common stock
• 2,056,234 (dollar_amount) — number of shares beneficially owned by the ESOP
• 10.7% (dollar_amount) — percentage of class beneficially owned by the ESOP
• December 31, 2023 (date) — date of event requiring the filing
• February 7, 2024 (date) — filing date of the SC 13G/A amendment

Forward-Looking Statements

• The decrease in ESOP ownership might lead to a slight increase in available shares on the open market, potentially impacting short-term price volatility. (Hawkins, Inc. common stock) — medium confidence, target: Q1 2024

FAQ

Filing Documents

• schedule13ga2024.htm (SC 13G/A) — 43KB
• 0000046250-24-000006.txt ( ) — 45KB

(a) Name of Issuer

Item 1. (a) Name of Issuer Hawkins, Inc. (b) Address of Issuer's Principal Executive Offices 2381 Rosegate Roseville, MN 55113

(a) Name of Person Filing 1

Item 2. (a) Name of Person Filing 1 Hawkins, Inc. Employee Stock Ownership Plan and Trust Hawkins, Inc. Employee Stock Ownership Plan for Certain Collectively Bargained Employees and Trust (b) Address of Principal Business Office or, if none, Residence co Hawkins, Inc. 2381 Rosegate Roseville, MN 55113 (c) Citizenship Minnesota (d) Title of Class of Securities Common Stock, Par Value $.01 per share (e) CUSIP Number 420261109

If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a

Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a (a) o Broker or dealer registered under section 15 of the Act (b) o Bank as defined in section 3(a)(6) of the Act (c) o Insurance company as defined in section 3(a)(19) of the Act (d) o Investment company registered under section 8 of the Investment Company Act of 1940 (e) o An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E) (f) An employee benefit plan or endowment fund in accordance with 240.13d1(b)(1)(ii)(F) (g) o A parent holding company or control person in accordance with 240.13d1(b)(1)(ii)(G) (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act (j) o A non-U.S. institution in accordance with 240.13d1(b)(1)(ii)(J) 1 The Trustee of the Hawkins, Inc. Employee Stock Ownership Plan and Trust and the Hawkins, Inc. Employee Stock Ownership Plan for Certain Collectively Bargained Employees and Trust (together, the "ESOP") is Matrix Trust Company. The ESOP allows plan participants to direct voting of shares allocated to their plan accounts, and all shares held by the ESOP and reported on this Schedule are allocated to plan participant accounts. Under the applicable trust agreement, the Trustee is to vote shares with respect to which no voting instructions are received from plan participants in proportion to the shares voted by plan participants who do submit voting instructions. As a result, the Trustee may theoretically be deemed to share, at least temporarily, voting power as to all shares reported on this Schedule. The Trustee also has limited dispositive power with respect to all shares reported on this Schedule, reflecting a requirement that the assets of the ESOP must primarily consist of shares of the Issuer's stock. The Trustee disclaims benefi

Ownership

Item 4. Ownership (a) Amount beneficially owned 1,038,357.89. (b) Percent of class 5.0%. (c) Number of shares as to which such person has (i) Sole power to vote or to direct the vote 0. (ii) Shared power to vote or to direct the vote 1,038,357.89. (iii) Sole power to dispose or to direct the disposition of 0. (iv) Shared power to dispose or to direct the disposition of 1,038,357.89.

Ownership of Five Percent or Less of a Class

Item 5. Ownership of Five Percent or Less of a Class Not Applicable

Ownership of More than Five Percent on Behalf of Another Person

Item 6. Ownership of More than Five Percent on Behalf of Another Person. The plan participants and beneficiaries of the ESOP have the right to receive dividends from and the proceeds from the sale of the shares reported on this Schedule. No person has such a right with respect to more than 5% of the Issuer's outstanding common stock. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company or Control Person. Not Applicable

Identification and Classification of Members of the Group

Item 8. Identification and Classification of Members of the Group Not Applicable

Notice of Dissolution of Group

Item 9. Notice of Dissolution of Group Not Applicable 4

Certification

Item 10. Certification By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. SIGNATURE After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date February 6, 2024 HAWKINS, INC. EMPLOYEE STOCK OWNERSHIP TRUST By HAWKINS, INC., AS ADMINISTRATOR By s Richard G. Erstad Richard G. Erstad Vice President, General Counsel and Secretary

View Full Filing

View this SC 13G/A filing on SEC EDGAR