Katz granted RSUs, defers KODK shares into phantom stock
Eastman Kodak director and 10% owner Philippe D. Katz reported routine equity compensation and related deferrals.
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Form Type
4
Rhea-AI Filing Summary
Eastman Kodak director and 10% owner Philippe D. Katz reported routine equity compensation and related deferrals. He received 12,726 restricted stock units that convert into common stock on a one-for-one basis under the company’s 2013 Omnibus Incentive Plan, generally vesting immediately before the 2027 annual shareholder meeting.
Upon vesting of a prior grant of 16,393 restricted stock units on May 19, 2026, Katz deferred the related common shares under Eastman Kodak’s Deferred Compensation Plan for Directors and instead received 16,393 shares of phantom stock, each representing a right to one share of common stock payable after his board service ends, in either a lump sum or up to ten annual installments. The filing also lists existing holdings, including 187,026 shares of common stock held directly, additional shares held indirectly by entities such as KF Investors LLC and Momar Corporation with Katz disclaiming beneficial ownership except for his pecuniary interest, and vested stock options over specified amounts of common stock at exercise prices between $3.03 and $12.00 per share. No open-market purchases or sales are reported.
Insider Trade Summary
13 transactions reported
Mixed
13 txns
Insider
Katz Philippe D
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 12,726 | $0.00 | $0.00 |
| Disposition | Restricted Stock Units | 16,393 | $0.00 | $0.00 |
| Grant/Award | Phantom Stock | 16,393 | $0.00 | $0.00 |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Stock Option (Right to Buy) | -- | -- | -- |
| holding | Common Stock, par value $.01 | -- | -- | -- |
| holding | Common Stock, par value $.01 | -- | -- | -- |
| holding | Common Stock, par value $.01 | -- | -- | -- |
| holding | Common Stock, par value $.01 | -- | -- | -- |
| holding | Common Stock, par value $.01 | -- | -- | -- |
| holding | Common Stock, par value $.01 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 12,726 contracts (Direct);
Phantom Stock — 142,264 contracts (Direct);
Stock Option (Right to Buy) — 45,095 contracts (Direct);
Common Stock, par value $.01 — 187,026 shares (Direct);
Common Stock, par value $.01 — 2,522,011 shares (Indirect, Owned by KF Investors LLC);
Common Stock, par value $.01 — 1,569,870 shares (Indirect, Owned by Momar Corporation);
Common Stock, par value $.01 — 7,598 shares (Indirect, Owned by United Equities Commodities Company);
Common Stock, par value $.01 — 87,720 shares (Indirect, Owned by Marneu Holding Company);
Common Stock, par value $.01 — 48,875 shares (Indirect, Owned by 111 John Realty Corp.)
Footnotes (9)
- F1. Mr. Katz disclaims beneficial ownership of the securities held by KF Investors LLC, an entity of which Mr. Katz is a managing member, except to the extent of his pecuniary interest therein.
- F2. Mr. Katz disclaims beneficial ownership of the securities held by Momar Corporation, an entity in which Mr. Katz has an ownership interest, except to the extent of his pecuniary interest therein.
- F3. Mr. Katz disclaims beneficial ownership of the securities held by United Equities Commodities Company, an entity of which Mr. Katz is a general partner, except to the extent of his pecuniary interest therein.
- F4. Mr. Katz disclaims beneficial ownership of the securities held by Marneu Holding Company, an entity of which Mr. Katz is a partner, except to the extent of his pecuniary interest therein.
- F5. Mr. Katz disclaims beneficial ownership of the securities held by 111 John Realty Corp., an entity in which Mr. Katz has an ownership interest, except to the extent of his pecuniary interest therein.
- F6. These restricted stock units convert into common stock on a one-for-one basis. Upon vesting on 5/19/2026, Mr. Katz deferred the receipt of 16,393 shares of common stock and received instead 16,393 shares of phantom stock pursuant to the terms of the Eastman Kodak Company Deferred Compensation Plan for Directors (the "Plan"). As a result, Mr. Katz is reporting the disposition of 16,393 shares of common stock in exchange for an equal number of shares of phantom stock under the Plan.
- F7. Each share of phantom stock represents a right to receive one share of common stock and becomes payable at the election of Mr. Katz in the year following the year of his separation from service as a director in either a single lump sum payment or in a maximum of ten annual installments.
- F8. These restricted stock units, which convert into common stock on a one-for-one basis, were granted under the Company's 2013 Omnibus Incentive Plan, as amended, in a transaction exempt under Rule 16b-3 and, except as otherwise provided in the award notice, vest on the day immediately preceding the Company's 2027 annual meeting of shareholders.
- F9. This option has fully vested as of the date of this report.
Key Figures
RSU grant: 12,726 units
RSUs converted to phantom stock: 16,393 units
Direct common shares: 187,026 shares
+4 more
7 metrics
RSU grant
12,726 units
Restricted stock units granted; one-for-one into common stock
RSUs converted to phantom stock
16,393 units
Vested RSUs exchanged for phantom stock on May 19, 2026
Direct common shares
187,026 shares
Common stock held directly by Philippe D. Katz
KF Investors LLC indirect holding
2,522,011 shares
Common stock owned by KF Investors LLC; Katz disclaims beneficial ownership beyond pecuniary interest
Stock option at $12.00
4,400 underlying shares
Vested stock option, exercise price $12.0000, expires May 19, 2030
Stock option at $3.03
25,297 underlying shares
Vested stock option, exercise price $3.0300, expires May 19, 2027
Phantom stock balance
142,264 units
Total phantom stock units following latest 16,393-unit grant
Key Terms
phantom stock, Deferred Compensation Plan for Directors, 2013 Omnibus Incentive Plan, Rule 16b-3, +1 more
5 terms
phantom stock financial
"Each share of phantom stock represents a right to receive one share of common stock"
A phantom stock is a form of compensation that gives employees or executives the benefits of stock ownership, such as the increase in stock value, without actually giving them real shares. It acts like a promise to pay the employee the equivalent value of company stock later, often as a bonus or incentive. This allows companies to motivate and reward staff without diluting ownership or transferring actual shares.
Deferred Compensation Plan for Directors financial
"received instead 16,393 shares of phantom stock pursuant to the terms of the Eastman Kodak Company Deferred Compensation Plan for Directors"
A deferred compensation plan for directors is an arrangement that lets board members postpone receiving part of their pay until a later date—often retirement or a set future time—so the money can grow or be paid under specified conditions. Think of it like directing a portion of your paycheck into a locked savings account that pays out later; investors care because it creates future cash or stock obligations, signals how the company motivates and retains leadership, and can affect shareholder value through timing of payouts or potential dilution.
2013 Omnibus Incentive Plan financial
"These restricted stock units... were granted under the Company's 2013 Omnibus Incentive Plan, as amended"
Rule 16b-3 regulatory
"were granted under the Company's 2013 Omnibus Incentive Plan, as amended, in a transaction exempt under Rule 16b-3"
Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.
restricted stock units financial
"These restricted stock units convert into common stock on a one-for-one basis"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity awards did Philippe D. Katz report for EASTMAN KODAK CO (KODK)?
Philippe D. Katz reported a grant of 12,726 restricted stock units that convert into common stock on a one-for-one basis. These units were granted under Eastman Kodak’s 2013 Omnibus Incentive Plan and are scheduled to vest immediately before the company’s 2027 annual shareholder meeting.
How did Philippe D. Katz use phantom stock in this KODK Form 4 filing?
Upon vesting of 16,393 restricted stock units on May 19, 2026, Katz deferred the related common stock and received 16,393 phantom stock units instead. Each phantom stock unit represents a right to one share of common stock, payable after his separation from service as a director.
What common stock holdings for Philippe D. Katz are shown in this KODK Form 4?
The filing lists 187,026 Eastman Kodak common shares held directly by Katz. It also shows additional common shares held indirectly through entities such as KF Investors LLC, Momar Corporation, and others, where Katz disclaims beneficial ownership except to the extent of his pecuniary interest.
What stock options does Philippe D. Katz hold in Eastman Kodak (KODK)?
Katz holds several vested stock options over Eastman Kodak common stock, including options with exercise prices of $12.00, $6.03, $4.53, and $3.03 per share. The options have stated expiration dates, including May 19, 2027 and May 19, 2030, as detailed in the filing.
How and when is Philippe D. Katz’s phantom stock in KODK payable?
Each phantom stock share entitles Katz to one share of Eastman Kodak common stock. According to the plan terms, the phantom stock becomes payable in the year following his separation as a director, either in a single lump sum or in up to ten annual installments.
AI-generated analysis. How Rhea-AI works. Not financial advice.
