[Form 4] Kyndryl Holdings, Inc. Insider Trading Activity

Rhea-AI Filing Summary

CCC Intelligent Solutions (CCCS) Form 4: SVP & Chief Strategy Officer Marc Fredman exercised 15,000 previously granted restricted stock units (RSUs) on 07/30/2025, converting them into common shares at a $0 exercise price (code M). Concurrently, 6,645 shares were sold or withheld (code F) at $9.78 per share, likely to cover taxes. Net result is an increase of 8,355 shares, lifting Fredman’s direct ownership to 280,635 shares.

The RSUs stem from a July 30 2021 grant that vests 25% annually over four years. No derivative positions remain after this transaction. At the 07/30 closing price of $9.78, the gross market value of shares acquired equals about $146.7 k; shares disposed are valued at roughly $65.0 k, implying a net market value addition of ≈$81.7 k.

Positive

• Net insider share increase: Fredman added 8,355 shares, boosting direct ownership to 280,635 and signaling continued commitment.
• No remaining derivatives from this grant: eliminates potential dilution from these RSUs.

Negative

• Portion of shares sold/withheld: 6,645 shares disposed at $9.78, offsetting part of the acquisition; typical tax event but limits net purchase size.

Insights

Equity Analyst

TL;DR Modest insider net buy (8.3k shares) indicates confidence; routine RSU vesting with tax sell-to-cover.

The transaction is primarily administrative—RSUs vest and settle, increasing Fredman’s stake. The net purchase, though small relative to CCCS’s 618 m shares outstanding, signals incremental insider alignment. The $9.78 reference price is near recent trading levels, so no valuation signal arises. Lack of additional derivative holdings removes overhang risk from this specific grant. Impact on float and insider ownership percentage is immaterial (<0.01% change). Overall market impact: neutral to slightly positive due to insider accumulation.

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^*

Merchant Rahul N

(Last) (First) (Middle)

ONE VANDERBILT AVENUE 15TH FLOOR

(Street)

NEW YORK NY 10017

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Kyndryl Holdings, Inc. [ KD ]

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)
07/31/2025

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
Common Stock	07/31/2025		A		6,296(1)	A	$38.12	60,086	D

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

Explanation of Responses:

1. Represents a grant of restricted stock units which will vest in full on the earlier of the anniversary of the grant date and the date of the Issuer's 2026 Annual Meeting of Stockholders (provided that the date of such annual meeting is at least 50 weeks after the date of the Issuer's 2025 Annual Meeting of Stockholders).

	/s/ Evan Barth, attorney-in-fact	08/01/2025
	** 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

How many CCCS shares did Marc Fredman acquire on 07/30/2025?

He acquired 15,000 shares through RSU conversion and kept a net 8,355 shares after tax withholding.

What is the new total shareholding of Marc Fredman in CCCS?

Post-transaction, Fredman directly owns 280,635 common shares.

At what price were the disposed shares sold or withheld?

Disposed shares were priced at $9.78 per share.

Why were some CCCS shares sold on the same day?

6,645 shares were sold/withheld (code F) likely for tax-withholding purposes related to the RSU vesting.

Does this Form 4 indicate additional dilution risk?

No. The RSUs involved have been fully exercised, leaving no derivative units from this grant outstanding.