Frontier (FYBR) chair’s shares and PSUs cashed out at $38.50 in Verizon buyout
Rhea-AI Filing Summary
Frontier Communications Parent, Inc. completed its merger with Verizon Communications Inc., making Frontier a wholly owned subsidiary of Verizon as of the merger’s effective time on January 20, 2026. Under the merger terms, each outstanding share of Frontier common stock was automatically converted into the right to receive $38.50 in cash per share, without interest.
In connection with this closing, Executive Chairman John G. Stratton reported the disposition of 1,872,593 shares of common stock and a remaining 113,039 shares, as well as the cancellation of 462,726 performance-based restricted stock units. At the effective time, outstanding time-based RSUs and performance-based PSUs vested and were canceled, with holders entitled to cash equal to the number of underlying shares multiplied by $38.50, with PSUs settled based on actual performance levels.
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Insights
Form 4 confirms cash-out of Frontier equity at $38.50 in Verizon merger.
This insider report shows how Frontier Communications Parent, Inc.’s merger with Verizon Communications Inc. was implemented for Executive Chairman John G. Stratton’s equity. At the effective time on January 20, 2026, each outstanding Frontier share was converted into a right to receive $38.50 in cash, and the company became a wholly owned Verizon subsidiary.
Stratton reported dispositions of 1,872,593 and 113,039 Frontier common shares, reflecting conversion into the agreed cash consideration, rather than an open-market sale. Performance-based restricted stock units totaling 462,726 were also canceled for cash, based on actual performance at the effective time. This aligns closely with the previously defined Agreement and Plan of Merger dated September 4, 2024, so it largely formalizes terms that had already been set.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Performance-based Restricted Stock Unit | 462,726 | $0.00 | -- |
| Disposition | Common Stock | 1,872,593 | $0.00 | -- |
| Disposition | Common Stock | 113,039 | $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 time-based restricted stock unit ("RSUs") 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. Represents each outstanding performance-based restricted stock units ("PSUs") 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 PSUs multiplied by $38.50, based on attainment of all applicable performance goals at the actual level of performance measured at the Effective Time.
