Form 4: Frontier Director Reports Share Conversion Post-Merger

Frontier Communications Director Pamela L. Coe reported the conversion of her common stock and restricted stock units into cash following the company's merger with a Verizon subsidiary.

Summary

• Pamela L. Coe, a Director of Frontier Communications Parent, Inc. (FYBR), reported transactions related to the company's merger.
• The merger involved Merger Sub Inc., a wholly-owned subsidiary of Verizon Communications Inc. ('Parent'), merging with and into Frontier Communications Parent, Inc.
• The merger was consummated on January 20, 2026, at which point Frontier Communications Parent, Inc. became a wholly-owned subsidiary of Parent.
• Each outstanding share of Frontier common stock was automatically converted into the right to receive $38.50 in cash, without interest.
• Pamela L. Coe's 20,378 shares of common stock were disposed of in this transaction.
• 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.
• Pamela L. Coe's 21,664 RSUs were disposed of in this transaction.
• Following these transactions, Pamela L. Coe beneficially owns 0 shares of Frontier Communications Parent, Inc. common stock.

Sentiment

Score: 7

Explanation: The filing reports the successful completion of a merger, resulting in a definitive cash payout for shareholders. While it signifies the end of the company's independent public status, the transaction itself is a clear, positive liquidity event for the reporting person and other shareholders.

Positives

• Shareholders, including Pamela L. Coe, received a cash payout of $38.50 per share for their common stock and vested RSUs, providing liquidity and a definitive return on investment.

Negatives

• Frontier Communications Parent, Inc. ceased to be an independent publicly traded company, becoming a wholly-owned subsidiary of Verizon Communications Inc.
• Existing shareholders no longer hold equity in Frontier Communications Parent, Inc. and will not participate in any future growth or value appreciation of the former entity.

Future Outlook

Frontier Communications Parent, Inc. is now a wholly-owned subsidiary of Verizon Communications Inc. and will no longer operate as an independent publicly traded entity. Its future operations and strategic direction will be determined by Verizon.

Industry Context

This filing marks the completion of a significant consolidation event in the telecommunications industry, with a major player like Verizon Communications Inc. acquiring Frontier Communications Parent, Inc. This move could enhance Verizon's market position and network infrastructure, while Frontier's assets are integrated into a larger operational framework.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders: Received a cash payment of $38.50 per share for their common stock and vested RSUs, providing a clear exit and liquidity.
• Employees: The merger likely impacts employees through integration into Verizon's corporate structure, potentially affecting roles, benefits, and corporate culture.
• Customers: Integration into Verizon's network and service offerings could lead to changes in service delivery, product portfolios, and customer support.

Key Dates

Keywords

Frontier Communications, FYBR, Verizon Communications, Merger, Acquisition, Form 4, Insider Transaction, Common Stock, Restricted Stock Units, Cash Payout