Form 4: Uniti CFO's Shares Convert Post-Merger

Uniti Group's SEVP, CFO & Treasurer, Paul Bullington, converted his Old Uniti common stock and restricted awards into New Uniti shares following the merger agreement.

Summary

• Paul Bullington, SEVP, Chief Financial Officer & Treasurer of Uniti Group LLC, reported a change in beneficial ownership.
• On August 1, 2025, his 809,454 shares of Old Uniti common stock were converted.
• This conversion was pursuant to the Agreement and Plan of Merger dated May 3, 2024, amended July 17, 2024, between Old Uniti, Windstream, New Uniti HoldCo LP, and New Windstream Merger Sub, LLC.
• Each share of Old Uniti common stock was converted into the right to receive 0.6029 shares of common stock of Uniti Group Inc. (f/k/a Windstream Parent, Inc.), referred to as "New Uniti Common Stock."
• Old Uniti Restricted Stock Awards were also converted into New Uniti Restricted Stock Awards using the same 0.6029 conversion ratio, rounded to the nearest whole share.
• Cash will be paid in lieu of fractional shares, based on the closing sale price of New Uniti Common Stock on Nasdaq on August 4, 2025.
• Following this transaction, the reporting person beneficially owns 0 shares of Old Uniti common stock.

Sentiment

Score: 5

Explanation: Neutral. This Form 4 reports a mandatory transaction (share conversion due to a merger) and does not contain information that would inherently indicate positive or negative sentiment for the company or its stock beyond the implications of the merger itself, which would have been announced separately.

Future Outlook

NA

Industry Context

This filing reflects the finalization of a significant merger within the telecommunications infrastructure sector, specifically involving a REIT (Uniti) and a fiber network operator (Windstream). Such mergers aim to create vertically integrated entities or consolidate market positions, potentially impacting competitive landscapes and service offerings in the fiber and telecom infrastructure space.

Stakeholder Impact

• Shareholders of Old Uniti (including the reporting person) had their shares converted into New Uniti shares, impacting their ownership structure and potentially the value of their holdings based on the new entity's performance.
• Employees holding Old Uniti Restricted Stock Awards will have their awards converted to New Uniti Restricted Stock Awards, maintaining their equity incentives under the new corporate structure.

Key Dates

Keywords

Uniti Group, UNIT, SEC Form 4, Beneficial Ownership, Merger, Stock Conversion, Paul Bullington, CFO, Windstream