Form 4: Versant Media Group GC Receives Equity Awards Post-Comcast Spinoff

Versant Media Group's General Counsel, Jordan Fasbender, reported the acquisition of 56,932 Class A Common Stock equivalent through restricted stock unit grants following the Comcast spinoff.

Summary

• Jordan Fasbender, General Counsel & Corporate Secretary of Versant Media Group, Inc. (VSNT), reported changes in beneficial ownership.
• On January 2, 2026, Comcast Corporation completed a pro-rata spinoff distribution of all its Versant Media Group, Inc. shares to Comcast shareholders of record as of December 16, 2025.
• In connection with the spinoff, certain restricted stock units (RSUs) for Comcast Class A Common Stock held by Fasbender were equitably adjusted and converted into 46,146 restricted stock units for Versant Class A Common Stock (Versant RSUs).
• These Versant RSUs were granted pursuant to the Versant Omnibus Equity Incentive Plan and are generally subject to the same terms and conditions as the corresponding Comcast RSUs.
• Additionally, Fasbender received a 'Founder's Grant' of 10,786 Versant RSUs under the Versant Plan on January 9, 2026.
• The Founder's Grant will vest in full on the third anniversary of the grant date, contingent on Fasbender's continued employment.
• Following these transactions, Fasbender beneficially owns a total of 56,932 Versant Class A Common Stock equivalents (via RSUs).

Sentiment

Score: 5

Explanation: The filing is neutral, reporting standard equity award grants to an executive following a corporate spinoff. It does not contain information that would significantly alter the company's financial outlook or operational status beyond routine compensation.

Positives

• The grants align the interests of the General Counsel with those of Versant Media Group's shareholders, promoting long-term commitment and performance.
• The equitable adjustment of Comcast RSUs to Versant RSUs ensures continuity of executive compensation following the spinoff.

Risks

• The vesting of the Founder's Grant and other Versant RSUs is subject to the reporting person's continued employment, posing a risk of forfeiture if employment ceases before vesting.

Future Outlook

The Founder's Grant of 10,786 Versant RSUs will vest in full on the third anniversary of the grant date (January 9, 2029), subject to continued employment. Other Versant RSUs are generally subject to the same terms and conditions as their original Comcast RSUs.

Industry Context

The filing reflects a standard process for executive equity compensation following a corporate spinoff, where equity awards from the parent company are converted or re-granted in the newly independent entity to maintain incentive alignment. This is a common practice to ensure key personnel remain incentivized post-separation.

Comparison to Industry Standards

• The conversion of existing equity awards and the issuance of new grants post-spinoff are standard practices to retain and incentivize executives in newly independent companies. Without specific details on the total compensation package or peer group comparisons, it is difficult to assess the grants against industry benchmarks for similar roles at comparable media groups.

Corporate Governance

Stakeholder Impact

• Shareholders: The grants align the General Counsel's financial interests with the long-term performance of Versant Media Group, potentially benefiting shareholders through motivated leadership.
• Employees: The establishment of the Versant Omnibus Equity Incentive Plan indicates a framework for broader employee equity compensation, which can be a positive for talent retention and motivation.

Next Steps

• Continued employment of Jordan Fasbender to ensure vesting of the Founder's Grant on its third anniversary (January 9, 2029).
• Vesting of other Versant RSUs according to their original terms and conditions.

Key Dates

Keywords

Versant Media Group, VSNT, Jordan Fasbender, SEC Form 4, Restricted Stock Units, RSUs, Spinoff, Comcast, Equity Incentive Plan, Insider Ownership, Corporate Governance