Director Pusey sells Frontier (FYBR) stake in Verizon cash merger
Rhea-AI Filing Summary
Frontier Communications Parent, Inc. director Stephen Charles Pusey reported the automatic cash-out of his shares in connection with the company’s merger with Verizon. On January 20, 2026, Frontier became a wholly owned subsidiary of Verizon when France Merger Sub Inc. merged into Frontier under a Merger Agreement dated September 4, 2024.
At the merger’s effective time, each outstanding share of Frontier common stock was converted into the right to receive $38.50 in cash per share, without interest. Pusey’s Form 4 shows dispositions of 9,893 and then 28,169 common shares, leaving him with no shares directly owned after the transaction. Each outstanding restricted stock unit vested and was canceled at closing, with holders entitled to cash equal to the number of underlying shares multiplied by $38.50.
Positive
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Negative
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 9,893 | $0.00 | -- |
| Disposition | Common Stock | 28,169 | $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.