Form 4: GO EK Ventures IV, LLC and B. Thomas Golisano Report Beneficial Ownership Change in Eastman Kodak Co. (KODK)

GO EK Ventures IV, LLC and B. Thomas Golisano report acquisition of Eastman Kodak Co. Series C Convertible Preferred Stock as a payment-in-kind dividend.

Summary

• GO EK Ventures IV, LLC and B. Thomas Golisano, both identified as directors and 10% owners of Eastman Kodak Co. (KODK), filed a Form 4.
• The report details a transaction on April 1, 2025, where 15,142 shares of 5.00% Cumulative Series C Convertible Preferred Stock were acquired as a payment-in-kind dividend.
• These shares were received on the record date of April 1, 2025, and payable on April 15, 2025.
• The Series C Convertible Preferred Stock is convertible into Common Stock at a ten-for-one basis and has no expiration date.
• Following the reported transaction, GO EK Ventures IV, LLC beneficially owns 1,226,539 shares directly.
• B. Thomas Golisano indirectly owns the shares through GO EK Ventures IV, LLC, of which he is the sole member.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing. The sentiment is neutral as it simply reports a transaction.

Positives

• The acquisition of preferred stock as a dividend suggests Eastman Kodak is able to distribute value to its preferred shareholders.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a regulatory requirement for corporate insiders in the US, ensuring compliance with SEC regulations.
• The reporting of payment-in-kind dividends is a common practice, especially for preferred stock, and is well-documented in financial reporting standards.

Stakeholder Impact

• The transaction provides information to shareholders regarding the ownership structure of Eastman Kodak.

Key Dates

Keywords

Form 4, Beneficial Ownership, Eastman Kodak, KODK, Series C Convertible Preferred Stock, Payment-in-kind dividend, GO EK Ventures IV, LLC, B. Thomas Golisano