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 September 30, 2024, Douglas K. Ammerman, a director of Fidelity National Financial, Inc. (FNF), acquired 269.915 shares of FNF phantom stock.
• The acquisition was made pursuant to the Deferred Compensation Plan.
• Each share of phantom stock is the economic equivalent of one share of FNF stock.
• The price of the phantom stock was $62.06 per share.
• Following the transaction, Ammerman beneficially owns 23,448.8719 shares of phantom stock directly.
• These shares are payable in cash following the reporting person's termination of service as a director.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment as it aligns director interests with company performance.

Positives

• The acquisition of phantom stock aligns the director's interests with the long-term performance of the company.
• The Deferred Compensation Plan allows directors to defer income and potentially reduce their current tax liability.

Future Outlook

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

Industry Context

Reporting of beneficial ownership changes by company insiders is a standard practice and provides transparency to investors.

Comparison to Industry Standards

• Deferred compensation plans are a common way for companies to compensate directors and align their interests with shareholders.
• Phantom stock plans are often used by companies to provide directors with a stake in the company's success without diluting existing shareholders' equity.

Stakeholder Impact

• The acquisition of phantom stock by a director can positively impact shareholders by aligning the director's interests with the company's long-term success.

Key Dates