Form 4: Frontier Communications Executive Acquires and Disposes of Shares Following PSU Vesting
SEC Form 4 Filing
Mark D. Nielsen, Chief Legal & Regulatory Officer of Frontier Communications, reports acquisition of 172,200 shares and disposal of 79,827 shares related to performance-based stock units.
Summary
- On March 1, 2024, Mark D. Nielsen, Chief Legal & Regulatory Officer of Frontier Communications Parent, Inc., acquired 172,200 shares of common stock.
- These shares were earned in respect of performance-based stock units (PSUs) for the 2021-2023 performance period.
- Also on March 1, 2024, Nielsen disposed of 79,827 shares to cover taxes upon the vesting and settlement of the 2021 PSUs at a price of $23.82.
- Following these transactions, Nielsen directly owns 162,819 shares of Frontier Communications common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the filing simply reports transactions related to PSU vesting and tax obligations, which are routine.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be an indicator of management's confidence in the company's prospects.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect insider trading activity related to compensation.
Key Dates
| Date | Description |
|---|---|
| 03/01/2024 | Date of transaction: Acquisition of 172,200 shares and disposal of 79,827 shares. |
| 03/05/2024 | Date of signature for the Form 4 filing. |
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