Director exits Frontier (FYBR) stake as Verizon merger pays $38.50 a share
Rhea-AI Filing Summary
Frontier Communications Parent, Inc. director Vemana Pratabkumar reported the disposition of all personally held common stock in connection with the company’s merger with Verizon Communications Inc. At the merger’s effective time on January 20, 2026, each outstanding Frontier share was automatically converted into the right to receive $38.50 in cash per share, without interest. The filing shows two disposition entries that together reduce Pratabkumar’s direct holdings from 25,919 shares to zero, reflecting the cash-out of both common shares and restricted stock units under the merger terms.
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Insights
Director’s stake is fully cashed out in Verizon’s $38.50-per-share merger.
This filing shows how a Frontier Communications Parent, Inc. director’s equity was treated when Verizon Communications Inc. completed its acquisition. On January 20, 2026, a merger subsidiary of Verizon combined with Frontier, leaving Frontier as a wholly owned subsidiary of Verizon, and triggering automatic cash conversion of the director’s shares.
Each outstanding Frontier share became a right to receive $38.50 in cash, with no interest, at the effective time. The director’s non-derivative holdings were fully disposed of in two line items, moving from 25,919 shares down to zero, consistent with a cash-out merger structure. Outstanding restricted stock units also vested and were canceled for cash equal to the underlying shares multiplied by $38.50.
The filing is primarily mechanical, documenting the closing terms already set in the merger agreement dated September 4, 2024. It confirms that post-closing, the reporting person no longer holds Frontier common stock, and that all equity interests referenced here were settled entirely in cash under the agreed per-share merger price.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 25,919 | $0.00 | -- |
| Disposition | Common Stock | 4,517 | $0.00 | -- |
Footnotes (1)
- In connection with the terms of the Agreement and Plan of Merger, dated September 4, 2024 (the "Merger Agreement"), by and among the Issuer, Verizon Communications Inc. ("Parent"), France Merger Sub Inc., a wholly owned Subsidiary of Parent ("Merger Sub"), in accordance with the Merger Agreement, Merger Sub merged with and into the Issuer, with the Issuer surviving such merger as a wholly-owned subsidiary of Parent upon the consummation of the merger on January 20, 2026 (the "Effective Time"). At the Effective Time, each outstanding share of Issuer common stock ("Share") was automatically converted into the right to receive an amount in cash equal to $38.50 per share, without interest. Represents each outstanding restricted stock unit ("RSU") which, at the Effective Time, vested and was canceled, with the holder thereof entitled to receive an amount in cash equal to the number of Shares underlying such RSUs multiplied by $38.50.
