Fidelity National Financial (FNF) director reports new phantom stock grant

Rhea-AI Filing Summary

Fidelity National Financial director reported a change in derivative holdings through phantom stock under the company’s Deferred Compensation Plan. On 12/31/2025, the director acquired 289.6193 units of FNF phantom stock at an implied price of $54.59 per unit, bringing the total derivative securities beneficially owned to 24,804.6544 units held directly.

Each phantom stock unit is the economic equivalent of one share of FNF common stock but is not actual stock. According to the plan terms, these phantom shares are payable in cash after the director’s termination of service, aligning the director’s economic interest with the company’s share performance over time.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ammerman Douglas K

(Last) (First) (Middle)

601 RIVERSIDE AVENUE

(Street)

JACKSONVILLE FL 32204

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Fidelity National Financial, Inc. [ FNF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
FNF Phantom Stock(1)	(2)	12/31/2025		A		289.6193		(3)	(3)	Common Stock	289.6193	$54.59	24,804.6544	D

Explanation of Responses:

1. Phantom stock acquired by the reporting person pursuant to the Deferred Compensation Plan.

2. Each share of phantom stock is the economic equivalent of one share of FNF stock.

3. Shares of phantom stock are payable in cash following the reporting person's termination of service as a director.

	/s/ Colleen E. Haley, as attorney-in-fact	01/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Fidelity National Financial (FNF) disclose in this Form 4?

The filing shows a director of Fidelity National Financial acquired 289.6193 units of FNF phantom stock on 12/31/2025 under a Deferred Compensation Plan.

What is FNF phantom stock and how does it relate to common shares?

Each unit of FNF phantom stock is the economic equivalent of one share of FNF common stock, tracking its value but not representing actual issued shares.

How many derivative securities does the FNF director own after this transaction?

Following the reported transaction, the director beneficially owns 24,804.6544 derivative securities in the form of FNF phantom stock, held directly.

When will the FNF phantom stock be paid to the director?

The phantom stock units are payable in cash following the director’s termination of service as a director of Fidelity National Financial.

What was the implied price used for the FNF phantom stock units in this filing?

The acquired 289.6193 phantom stock units were valued at an implied price of $54.59 per unit, reflecting the referenced value of FNF common stock.

Does this FNF Form 4 indicate direct or indirect ownership of the phantom stock?

The filing classifies the 24,804.6544 phantom stock units as direct ownership by the reporting director.