HORMEL FOODS CORP /DE/ — Director's Dealing 2014

Jan 2, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HORMEL FOODS CORP /DE/ (HRL)
CIK: 0000048465
Period of Report: 2013-12-31

Reporting Person: MORRISON JOHN L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2013-12-31	Common Stock	A	58.11	—	Acquired	73681.722	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	7000	Indirect

Footnotes

F1: Each share of phantom stock is the equivalent of one share of common stock. The shares of phantom stock become payable in common stock in one lump sum, or in up to ten annual installments, at the election of the reporting person, on February 15 of the year following termination of service as a director, or such later date as is elected by the reporting person. In addition, the shares of phantom stock become payable in common stock in one lump sum immediately upon a director's separation from service within six months following a change of control (as defined in the Plan).

F2: Reflects additional phantom stock units received by the Reporting Person upon conversion of dividend equivalents from September 30, 2013 to the present.