Form 4: Fidelity National Financial Director Douglas K. Ammerman Reports Phantom Stock Acquisition

Director Douglas K. Ammerman reports acquisition of phantom stock in Fidelity National Financial through a deferred compensation plan.

Summary

• On December 31, 2024, Douglas K. Ammerman, a director of Fidelity National Financial, Inc. (FNF), acquired 316.687 shares of FNF phantom stock.
• The acquisition was made pursuant to the Deferred Compensation Plan.
• Each share of phantom stock is economically equivalent to one share of FNF stock.
• The price of the phantom stock is $56.14 per share.
• Following the transaction, Ammerman directly owns 23,765.5589 derivative securities.
• The phantom stock is payable in cash upon Ammerman's termination of service as a director.

Sentiment

Score: 7

Explanation: The document is a standard regulatory filing detailing a routine transaction. It doesn't contain any information that would significantly impact investor sentiment positively or negatively. The acquisition of phantom stock is a common practice.

Future Outlook

The phantom stock is payable in cash following the reporting person's termination of service as a director.

Industry Context

This filing reflects routine executive compensation practices within publicly traded companies, where phantom stock or similar deferred compensation plans are used to align the interests of directors with those of shareholders.

Comparison to Industry Standards

• Deferred compensation plans, including phantom stock awards, are a common practice among publicly traded companies to incentivize and retain key personnel, including directors.
• Companies like Black Knight Financial Services (now part of ICE) and Stewart Information Services also utilize similar compensation strategies to align executive interests with shareholder value.
• The specific terms and amounts of phantom stock awards vary based on company size, performance, and individual contributions.

Stakeholder Impact

• The acquisition of phantom stock aligns the director's interests with those of the shareholders, as the value of the phantom stock is tied to the performance of FNF stock.

Key Dates