IBM (NYSE: IBM) director defers board fees into 126 Promised Fee Shares

Rhea-AI Filing Summary

Laguarta Ramon reported acquisition or exercise transactions in this Form 4 filing.

INTERNATIONAL BUSINESS MACHINES CORP director Ramon Laguarta received a grant of 126 Promised Fee Shares as deferred board compensation. The award is tied to IBM common stock at a reference price of $242.39 per share and is recorded as a derivative security.

Under the IBM Board of Directors Deferred Compensation and Equity Award Plan, these Promised Fee Shares represent fees deferred into stock-based units rather than cash. Distribution of the Promised Fee Shares is deferred until retirement and will be settled in IBM common stock or cash in accordance with the plan terms.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Laguarta Ramon

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Promised Fee Share	126	$242.39	$31K

Holdings After Transaction: Promised Fee Share — 126 shares (Direct)

Footnotes (1)

1. Promised Fee Shares under the IBM Board of Directors Deferred Compensation and Equity Award Plan are paid out after retirement in the company's common stock or cash. Deferral of fees into Promised Fee Shares under the terms of the IBM Board of Directors Deferred Compensation and Equity Award Plan. Distribution of Promised Fee Shares under the IBM Board of Directors Deferred Compensation and Equity Award Plan is deferred until retirement.

Key Figures

Promised Fee Shares granted: 126 shares Reference price per share: $242.39 per share Total Promised Fee Shares after grant: 126 shares +2 more

5 metrics

Promised Fee Shares granted 126 shares Grant/award acquisition on March 31, 2026

Reference price per share $242.39 per share Valuation of Promised Fee Shares at grant

Total Promised Fee Shares after grant 126 shares Total reported holdings for this award following transaction

Underlying common stock 126 shares IBM common stock underlying the Promised Fee Shares

Conversion or exercise price $0.00 No exercise price for Promised Fee Shares under plan

Key Terms

Promised Fee Shares, Deferred Compensation and Equity Award Plan, derivative security, grant, award, or other acquisition

4 terms

Promised Fee Shares financial

"Promised Fee Shares under the IBM Board of Directors Deferred Compensation and Equity Award Plan are paid out after retirement"

Deferred Compensation and Equity Award Plan financial

"under the IBM Board of Directors Deferred Compensation and Equity Award Plan are paid out after retirement"

derivative security financial

"Promised Fee Share is reported as a derivative-type transaction linked to IBM common stock"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

grant, award, or other acquisition financial

"transaction code description shows Grant, award, or other acquisition for the Promised Fee Shares"

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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^*

Laguarta Ramon

(Last) (First) (Middle)

C/O SECRETARY'S OFFICE, IBM CORPORATION

ONE NEW ORCHARD ROAD

(Street)

ARMONK NEW YORK 10504

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
INTERNATIONAL BUSINESS MACHINES CORP [ IBM ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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

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

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

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
Promised Fee Share	$0.00(1)	03/31/2026		A(2)		126		(3)	(3)	Common Stock	126	$242.39	126	D

Explanation of Responses:

1. Promised Fee Shares under the IBM Board of Directors Deferred Compensation and Equity Award Plan are paid out after retirement in the company's common stock or cash.

2. Deferral of fees into Promised Fee Shares under the terms of the IBM Board of Directors Deferred Compensation and Equity Award Plan.

3. Distribution of Promised Fee Shares under the IBM Board of Directors Deferred Compensation and Equity Award Plan is deferred until retirement.

Remarks:

	L. Mallardi on behalf of R. Laguarta	04/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What did IBM (IBM) director Ramon Laguarta report in this Form 4 filing?

Ramon Laguarta reported an acquisition of 126 Promised Fee Shares as board compensation. These units track IBM common stock at $242.39 per share and represent fees deferred into the IBM Board of Directors Deferred Compensation and Equity Award Plan.

Are the 126 Promised Fee Shares in IBM (IBM) a stock purchase by Ramon Laguarta?

No, the 126 Promised Fee Shares reflect deferred board fees, not an open-market stock purchase. They are granted under IBM’s Board of Directors Deferred Compensation and Equity Award Plan and treated as derivative units linked to IBM common stock.

When will Ramon Laguarta receive the IBM (IBM) Promised Fee Shares reported in this Form 4?

Distribution of the Promised Fee Shares is deferred until retirement. At that time, the balance under IBM’s Board of Directors Deferred Compensation and Equity Award Plan will be paid out in IBM common stock or cash, according to plan provisions.

How many IBM (IBM) shares are underlying Ramon Laguarta’s Promised Fee Shares?

The Form 4 shows 126 Promised Fee Shares, each linked to one share of IBM common stock. Following the reported grant, his total reported Promised Fee Share balance for this award is 126 units under the deferred compensation plan.

What is the reference price for the IBM (IBM) Promised Fee Shares granted to Ramon Laguarta?

The Promised Fee Shares use a reference price of $242.39 per IBM common share. This figure is used to value the deferred board fees converted into Promised Fee Shares under the IBM Board of Directors Deferred Compensation and Equity Award Plan.