<SEC-DOCUMENT>0000921895-25-003341.txt : 20251215
<SEC-HEADER>0000921895-25-003341.hdr.sgml : 20251215
<ACCEPTANCE-DATETIME>20251215160025
ACCESSION NUMBER:		0000921895-25-003341
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20251211
FILED AS OF DATE:		20251215
DATE AS OF CHANGE:		20251215

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Smith Jeffrey C
		CENTRAL INDEX KEY:			0001362697
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-41697
		FILM NUMBER:		251571473

	MAIL ADDRESS:	
		STREET 1:		201 E LAS OLAS BOULEVARD, SUITE 1000
		CITY:			FORT LAUDERDALE
		STATE:			FL
		ZIP:			33301

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Kenvue Inc.
		CENTRAL INDEX KEY:			0001944048
		STANDARD INDUSTRIAL CLASSIFICATION:	PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
		ORGANIZATION NAME:           	03 Life Sciences
		EIN:				881032011
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1228

	BUSINESS ADDRESS:	
		STREET 1:		1 KENVUE WAY
		CITY:			SUMMIT
		STATE:			NJ
		ZIP:			07901
		BUSINESS PHONE:		908-874-1200

	MAIL ADDRESS:	
		STREET 1:		1 KENVUE WAY
		CITY:			SUMMIT
		STATE:			NJ
		ZIP:			07901

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	JNTL, Inc.
		DATE OF NAME CHANGE:	20220825
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form406297362_12152025.xml
<DESCRIPTION>OWNERSHIP DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-12-11</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001944048</issuerCik>
        <issuerName>Kenvue Inc.</issuerName>
        <issuerTradingSymbol>KVUE</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001362697</rptOwnerCik>
            <rptOwnerName>Smith Jeffrey C</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>201 E LAS OLAS BOULEVARD, SUITE 1000</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>FORT LAUDERDALE</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33301</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-11</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>3177694</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.4318</value>
                    <footnoteId id="F5"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>24107632</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Starboard Value LP</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $0.01 par value</value>
            </securityTitle>
            <transactionDate>
                <value>2025-12-12</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>P</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>3200000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>17.3730</value>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>27307632</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Starboard Value LP</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Deferred Share Units</value>
                <footnoteId id="F2"/>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F3"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>13641.878</value>
                    <footnoteId id="F4"/>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>13641.878</value>
                    <footnoteId id="F4"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Starboard Value LP (&quot;Starboard&quot;) serves as the investment manager or manager of certain managed accounts and private investment funds (collectively, the &quot;Starboard Accounts&quot;), which hold the securities reported herein and as such may be deemed to beneficially own such securities. The Reporting Person, as a Managing Member of Starboard, may be deemed to beneficially own the securities directly held by the Starboard Accounts for purposes of Section 16 of the Securities Exchange Act of 1934, as amended. The Reporting Person expressly disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.</footnote>
        <footnote id="F2">Each Deferred Share Unit (&quot;DSU&quot;) represents the right to receive one share of Issuer common stock.</footnote>
        <footnote id="F3">The DSUs represent deferral of cash compensation under the Issuer's Amended and Restated Deferred Fee Plan for Directors and will be settled in shares of common stock following the Reporting Person's separation from service.</footnote>
        <footnote id="F4">Includes DSUs acquired as dividend equivalents.</footnote>
        <footnote id="F5">Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $17.3720 to $17.5550, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.</footnote>
        <footnote id="F6">Represents a weighted average price. These shares were purchased in multiple transactions at prices ranging from $17.3580 to $17.3880, inclusive. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased in each transaction.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Lindsey Cara, Attorney-in-Fact for Jeffrey C. Smith</signatureName>
        <signatureDate>2025-12-15</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
