Form 4: Frontier Director Reports Post-Merger Share Disposition

A director of Frontier Communications Parent, Inc. reported the disposition of all common stock and restricted stock units following the company's merger with a Verizon subsidiary at $38.50 per share.

Summary

• Stephen Charles Pusey, a Director of Frontier Communications Parent, Inc. (FYBR), reported transactions related to the company's merger.
• The merger, based on an Agreement and Plan of Merger dated September 4, 2024, involved Frontier Communications Parent, Inc. being acquired by Verizon Communications Inc. through its subsidiary, France Merger Sub Inc.
• The merger became effective on January 20, 2026, at which point Frontier Communications Parent, Inc. became a wholly-owned subsidiary of Verizon Communications Inc.
• At the effective time of the merger, each outstanding share of Frontier common stock was automatically converted into the right to receive $38.50 in cash, without interest.
• All outstanding restricted stock units (RSUs) also vested and were canceled, with holders receiving cash equal to the number of underlying shares multiplied by $38.50.
• Mr. Pusey disposed of 9,893 shares of common stock and subsequently disposed of an additional 28,169 shares of common stock, resulting in zero shares beneficially owned following the reported transactions.
• The transactions also included the disposition of 28,169 shares related to vested and canceled RSUs, resulting in zero derivative securities beneficially owned.

Sentiment

Score: 8

Explanation: The successful completion of the merger and the defined cash payout for shareholders and RSU holders represent a positive and expected outcome for investors in the acquired entity.

Positives

• The successful completion of the merger provides a clear cash exit for shareholders of Frontier Communications Parent, Inc.
• Shareholders and RSU holders received a fixed cash consideration of $38.50 per share/unit, providing certainty and liquidity.

Negatives

• Frontier Communications Parent, Inc. is no longer an independent publicly traded company, eliminating future investment opportunities in its standalone equity.

Future Outlook

Frontier Communications Parent, Inc. is now a wholly-owned subsidiary of Verizon Communications Inc., and as such, its independent future outlook as a publicly traded entity has concluded.

Industry Context

This announcement reflects a significant consolidation event within the telecommunications industry, where a major player like Verizon Communications Inc. has acquired Frontier Communications Parent, Inc., integrating its operations and customer base.

Corporate Governance

Stakeholder Impact

• Shareholders of Frontier Communications Parent, Inc. received a cash payout for their equity holdings.
• The company's status as an independent public entity has ceased, impacting its former investor base.

Next Steps

• For former shareholders of Frontier Communications Parent, Inc., the next step involves receiving the cash consideration for their shares and RSUs.

Key Dates

Keywords

Frontier Communications, FYBR, Verizon Communications, Merger, Acquisition, Insider Transaction, Form 4, Share Disposition, Restricted Stock Units, Telecommunications