Kenvue Inc. — Director's Dealing 2023

Aug 26, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Kenvue Inc. (KVUE)
CIK: 0001944048
Period of Report: 2023-08-23

Reporting Person: Lorenson Donna (Chief Corp. Affairs Officer)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-08-23	Restricted Stock Units	$	A	3252	Acquired		Common Stock (3252)	Direct
2023-08-23	Restricted Stock Units	$	A	2815	Acquired		Common Stock (2815)	Direct
2023-08-23	Restricted Stock Units	$	A	2511	Acquired		Common Stock (2511)	Direct
2023-08-23	Restricted Stock Units	$	A	8371	Acquired		Common Stock (8371)	Direct
2023-08-23	Restricted Stock Units	$	A	7038	Acquired		Common Stock (7038)	Direct
2023-08-23	Restricted Stock Units	$	A	8023	Acquired		Common Stock (8023)	Direct
2023-08-23	Stock Options	$21.97	A	26906	Acquired	2033-02-13	Common Stock (26906)	Direct
2023-08-23	Stock Options	$22.40	A	27795	Acquired	2032-02-14	Common Stock (27795)	Direct
2023-08-23	Stock Options	$22.23	A	27610	Acquired	2031-02-08	Common Stock (27610)	Direct
2023-08-23	Stock Options	$20.44	A	37596	Acquired	2030-02-10	Common Stock (37596)	Direct

Footnotes

F1: These restricted share units ("RSUs") were originally granted by Johnson & Johnson and, in connection with the Issuer's separation from Johnson & Johnson on August 23, 20223 (the "Separation") and pursuant to the terms of the Employee Matters Agreement, dated as of May 3, 2023 between Johnson & Johnson and the Issuer (the "Employee Matters Agreement"), were converted into RSUs with respect to Issuer common stock with adjustments made to the number of shares subject to the award in order to preserve the award's value.

F2: This award vests in three equal installments on 02/13/2024, 02/13/2025, and 02/13/2026, subject to the reporting person's continued service through the vesting date.

F3: This award will vest in full on 02/14/2025, subject to the reporting person's continued service through the vesting date.

F4: This award will vest in full on 02/08/2024, subject to the reporting person's continued service through the vesting date.

F5: These RSUs were originally granted by Johnson & Johnson as performance share units and, in connection with the Separation and pursuant to the terms of the Employee Matters Agreement, were converted into time-based RSUs with respect to Issuer common stock with adjustments made to the number of shares subject to the award in order to preserve the award's value and with performance criteria deemed satisfied at the target level, unless two years have been completed in the performance period, in which case performance was deemed satisfied at the level of performance for such years.

F6: This award will vest in full on 02/13/2026, subject to the reporting person's continued service through the vesting date.

F7: These stock options were originally granted by Johnson & Johnson and, in connection with the Separation and pursuant to the terms of the Employee Matters Agreement, were converted into options with respect to Issuer common stock with adjustments made to the number of shares subject to the award and its exercise price in order to preserve the award's value.

F8: This award is fully vested