Comcast co-CEO disposes 565K deferred RSUs
Comcast’s Co-CEO reallocated deferred phantom stock and RSU awards, with no market sale of Class A common shares reported.
Rhea-AI Filing Summary
COMCAST CORP (CCZ) reported that Co-CEO and director Michael J. Cavanagh executed discretionary transactions involving deferred equity-based compensation on September 1, 2026 under Rule 16b-3(f).
The transactions disposed of 392,769.065 phantom stock units and 565,642 restricted stock units, each economically tied to Class A common stock, in connection with elections to defer and notionally reinvest compensation in alternative investment options; these awards now show zero units remaining in the reported categories.
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Insights
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Insider Trade Summary
Discretionary: 958,411.065 shares
Discretionary
2 txns
Insider
Cavanagh Michael J
Role
Co-CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Discretionary | Phantom Stock F1 | 392,769.065 | $26.30 | $10.33M |
| Discretionary | Restricted Stock Units F2, F3 | 565,642 | $26.30 | $14.88M |
Holdings After Transaction:
Phantom Stock — 0 contracts (Direct);
Restricted Stock Units — 0 contracts (Direct)
Footnotes (3)
- F1. Each share of phantom stock represents the economic equivalent to one share of Class A common stock. Phantom shares have been deferred under our deferred compensation plans, may be transferred into alternative investments under the terms of our deferred compensation plans and settle in cash.
- F2. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
- F3. The reporting person had previously elected to defer receipt of shares and to notionally reinvest the deferred compensation in another investment plan.
Key Figures
Phantom stock units disposed: 392,769.065 units
Restricted stock units disposed: 565,642 units
Reference value per unit: $26.30 per unit
+2 more
5 metrics
Phantom stock units disposed
392,769.065 units
Discretionary transaction on September 1, 2026; each unit economically equivalent to one share of Class A common stock and settles in cash
Restricted stock units disposed
565,642 units
Discretionary transaction on September 1, 2026; each RSU represents a contingent right to one share of Class A common stock
Reference value per unit
$26.30 per unit
Reported transaction price per unit for the 565,642 restricted stock units on September 1, 2026
Post-transaction phantom stock units
0 units
Total phantom stock units reported following the September 1, 2026 discretionary transaction
Post-transaction restricted stock units
0 units
Total restricted stock units reported following the September 1, 2026 discretionary transaction
Key Terms
Phantom Stock, Restricted Stock Units, deferred compensation plans, Rule 16b-3(f)
4 terms
Phantom Stock financial
"Each share of phantom stock represents the economic equivalent to one share"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
deferred compensation plans financial
"Phantom shares have been deferred under our deferred compensation plans"
Deferred compensation plans are arrangements where employees or executives agree to receive part of their pay at a later date instead of immediately, like putting a portion of a paycheck into a locked savings account to be paid out in the future. For investors, these plans matter because they create future payment obligations for the company and shape management's incentives and retention; large deferred payouts can affect a firm’s reported financial health and cash needs down the road.
Rule 16b-3(f) regulatory
"Discretionary transaction under Rule 16b-3(f)"
FAQ
What did COMCAST CORP (CCZ) disclose about Michael J. Cavanagh’s September 1, 2026 transactions?
The company reported that Co-CEO Michael J. Cavanagh made discretionary transactions on September 1, 2026 disposing of phantom stock and restricted stock units under Rule 16b-3(f) as part of deferred compensation elections.
How many phantom stock units tied to COMCAST CORP (CCZ) did Michael J. Cavanagh dispose of?
He disposed of 392,769.065 phantom stock units, each representing the economic equivalent of one share of Class A common stock. These units were deferred under the company’s deferred compensation plans and settle in cash, not in actual shares.
How many restricted stock units linked to COMCAST CORP (CCZ) were affected?
He disposed of 565,642 restricted stock units, each representing a contingent right to receive one share of Class A common stock. The filing states he had elected to defer receipt of the shares and notionally reinvest the deferred compensation in another investment plan.
Were Michael J. Cavanagh’s deferred compensation transactions in CCZ done under a Rule 10b5-1 plan?
The filing’s Rule 10b5-1 checkbox is not affirmed (set to false), and there is no footnote stating these trades were made under a trading plan, so no 10b5-1 plan is reported for these transactions.
Did Michael J. Cavanagh sell COMCAST CORP (CCZ) Class A common stock in the market?
No market sale of Class A common stock is reported. The transactions involve phantom stock settling in cash and restricted stock units subject to deferred compensation and notional reinvestment, recorded as discretionary transactions under Rule 16b-3(f).
What are Michael J. Cavanagh’s holdings in the reported phantom stock and RSU awards after these CCZ transactions?
After the September 1, 2026 transactions, the reported holdings for both phantom stock and restricted stock units in this Form 4 are 0 units, indicating those specific deferred awards are no longer outstanding in the reported categories.
AI-generated analysis. How Rhea-AI works. Not financial advice.
