Form 4: Cable One Executive Reports Stock Transactions

Cable One's SVP, GC & Secretary, Christopher J. Arntzen, reported the disposition of common stock for tax purposes and the grant of new phantom restricted stock units.

Summary

• Christopher J. Arntzen, SVP, GC & Secretary of Cable One, Inc., reported transactions on January 3, 2026.
• Disposed of 161 shares of Cable One Common Stock at $104.16 per share to cover tax withholding liabilities from the vesting of previously granted equity awards.
• Beneficially owns 1,883 shares of Common Stock after this transaction.
• Received a grant of 4,992 Phantom Service-Based Restricted Stock Units (RSUs) on January 3, 2026.
• These Phantom RSUs generally vest in substantially equal installments on each of the first three anniversaries of the grant date, contingent on continued employment, and are solely cash-settled.
• Received a grant of 7,488 Phantom Performance-Based Restricted Stock Units (PSUs) on January 3, 2026.
• These Phantom PSUs vest based on target achievement of applicable performance goals over a three-year period (January 1, 2026, to December 31, 2028), subject to certification by the Compensation and Talent Management Committee and continued employment, and are solely cash-settled.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. The filing details routine executive compensation and tax-related transactions. The grants of new equity awards are a positive for executive retention and alignment, while the disposition for tax purposes is a standard, neutral event.

Positives

• The grant of 4,992 Phantom RSUs and 7,488 Phantom PSUs to a key executive aligns management incentives with company performance and retention.

Negatives

• The disposition of 161 shares of common stock, while for tax purposes, reduces the executive's direct ownership.

Risks

• Vesting of the new Phantom RSUs and PSUs is subject to the reporting person's continued employment.
• Vesting of Phantom PSUs is contingent on the achievement of specific performance goals and certification by the Compensation and Talent Management Committee of Cable One, Inc.

Future Outlook

The grants of Phantom RSUs and PSUs indicate a forward-looking compensation strategy designed to retain key executives and incentivize performance over the next three years, with vesting periods extending through 2028.

Industry Context

Executive equity grants are a standard practice in publicly traded companies, particularly in the telecommunications or media industry (Cable One's sector), to align executive interests with shareholder value and ensure long-term retention and performance. The use of phantom units settled in cash is also a common mechanism to manage share dilution.

Comparison to Industry Standards

• The structure of service-based and performance-based equity awards is consistent with common executive compensation practices across the S&P 500, including peers in the cable and broadband industry such as Comcast (CMCSA) or Charter Communications (CHTR).
• Vesting schedules of 2-4 years for RSUs and 3-year performance periods for PSUs are typical for long-term incentive plans designed to promote executive retention and achievement of strategic objectives.
• Cash-settled phantom units are often used to manage share dilution while still providing equity-linked incentives.

Stakeholder Impact

• Shareholders: The grants align executive incentives with shareholder value creation over the long term. The cash settlement of phantom units mitigates share dilution compared to stock-settled awards.
• Employees (specifically Christopher J. Arntzen): Provides long-term incentive compensation, subject to performance and continued employment.

Next Steps

• Continued employment of Christopher J. Arntzen for vesting of Phantom RSUs and PSUs.
• Achievement of performance goals for Phantom PSUs over the period January 1, 2026, to December 31, 2028.
• Certification of performance achievement by the Compensation and Talent Management Committee for Phantom PSUs.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation and tax-related stock dispositions. It does not contain information that would fundamentally alter the investment thesis for Cable One. The grants of new equity awards are a standard practice for executive retention and incentive alignment, which is generally a neutral to slightly positive factor. The disposition of shares for tax purposes is also a common, non-discretionary event. Therefore, an investor would likely maintain their current position based solely on this filing.

Keywords

Cable One, CABO, SEC Form 4, Insider Trading, Executive Compensation, Restricted Stock Units, Performance Stock Units, Equity Awards, Stock Grant, Tax Withholding