Form 4: Eastman Kodak Director Kathleen B. Lynch Reports Changes in Beneficial Ownership

Kathleen B. Lynch, a director at Eastman Kodak, reported changes in her beneficial ownership of company stock, including the disposition of common stock in exchange for phantom stock and the acquisition of restricted stock units.

Summary

• Kathleen B. Lynch, a director at Eastman Kodak, filed a Form 4 detailing changes in her beneficial ownership of the company's securities.
• On May 20, 2025, Ms. Lynch disposed of 19,921 shares of common stock in exchange for an equal number of shares of phantom stock under the Eastman Kodak Company Deferred Compensation Plan for Directors.
• Also on May 20, 2025, Ms. Lynch was granted 19,921 shares of phantom stock.
• On May 21, 2025, Ms. Lynch acquired 16,393 restricted stock units, which convert into common stock on a one-for-one basis.
• These restricted stock units vest on the day immediately preceding the Company's 2026 annual meeting of shareholders.
• Following these transactions, Ms. Lynch directly owns 65,361 shares of phantom stock and 16,393 restricted stock units.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing detailing changes in beneficial ownership. The acquisition of restricted stock units is a mildly positive signal, but the overall sentiment is neutral.

Positives

• The acquisition of restricted stock units by a director signals confidence in the company's future performance.

Future Outlook

The restricted stock units vest before the 2026 annual meeting, indicating a potential increase in Ms. Lynch's common stock holdings at that time.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. The use of restricted stock units and phantom stock is a common practice for aligning the interests of directors with those of shareholders.

Comparison to Industry Standards

• Many companies use restricted stock units (RSUs) as part of their compensation packages for directors and executives.
• The vesting schedules for RSUs typically range from one to five years, with vesting often tied to continued service or performance milestones.
• Phantom stock plans are also used to provide directors with a stake in the company's success without issuing actual shares until a later date, often upon retirement or separation from service.
• Companies like Apple, Microsoft, and Alphabet also grant RSUs to their executives and directors as part of their compensation packages.

Stakeholder Impact

• The transactions reported in the Form 4 provide transparency to shareholders regarding the holdings of a company director.

Key Dates

Keywords

Form 4, beneficial ownership, Eastman Kodak, KODK, director, Kathleen B. Lynch, restricted stock units, phantom stock, deferred compensation, common stock