Director at Eastman Kodak (NYSE: KODK) granted RSUs and phantom stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Eastman Kodak director Jason Griffin New reported compensation-related equity awards and a deferral election. On May 20, 2026, he received 12,726 restricted stock units that convert into common stock on a one-for-one basis and generally vest immediately before the company’s 2027 annual shareholders meeting.
On May 19, 2026, 16,393 restricted stock units vested and, instead of taking common shares, he deferred them into 16,393 shares of phantom stock under Eastman Kodak’s Deferred Compensation Plan for Directors, exchanging the same number of common shares. After these entries, he directly holds 88,002 common shares, 81,754 phantom stock units, and fully vested stock options with exercise prices from $3.03 to $12.00 covering individual blocks of 3,666, 6,416, 6,416, and 21,081 underlying shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
New Jason Griffin
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 12,726 | $0.00 | -- |
| Disposition | Restricted Stock Units | 16,393 | $0.00 | -- |
| Grant/Award | Phantom Stock | 16,393 | $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 | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 12,726 shares (Direct, null);
Phantom Stock — 81,754 shares (Direct, null);
Stock Option (Right to Buy) — 21,081 shares (Direct, null);
Common Stock, par value $.01 — 88,002 shares (Direct, null)
Footnotes (1)
- These restricted stock units convert into common stock on a one-for-one basis. Upon vesting on 5/19/2026, Mr. New 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. New 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. Each share of phantom stock represents a right to receive one share of common stock and becomes payable at the election of Mr. New 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. 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. This option has fully vested as of the date of this report.
Key Figures
RSU grant: 12,726 units
RSUs deferred into phantom stock: 16,393 units
Common stock held: 88,002 shares
+5 more
8 metrics
RSU grant
12,726 units
Restricted stock units granted on May 20, 2026
RSUs deferred into phantom stock
16,393 units
Vested RSUs exchanged for phantom stock on May 19, 2026
Common stock held
88,002 shares
Direct Eastman Kodak common stock holdings after transactions
Phantom stock held
81,754 units
Total phantom stock units after May 19, 2026 transaction
Option block
3,666 underlying shares at $12.00
Stock option, expiration May 19, 2030, fully vested
Option block
6,416 underlying shares at $6.03
Stock option, expiration May 19, 2030, fully vested
Option block
6,416 underlying shares at $4.53
Stock option, expiration May 19, 2030, fully vested
Option block
21,081 underlying shares at $3.03
Stock option, expiration May 19, 2027, fully vested
Key Terms
Restricted Stock Units, phantom stock, Deferred Compensation Plan for Directors, 2013 Omnibus Incentive Plan, +2 more
6 terms
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.
phantom stock financial
"received instead 16,393 shares of phantom stock pursuant to the terms of the Eastman Kodak Company Deferred Compensation Plan for Directors"
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
"pursuant to the terms of the Eastman Kodak Company Deferred Compensation Plan for Directors (the "Plan")"
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
"granted under the Company's 2013 Omnibus Incentive Plan, as amended, in a transaction exempt under Rule 16b-3"
Rule 16b-3 regulatory
"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.
Stock Option (Right to Buy) financial
"Stock Option (Right to Buy) ... underlying shares of common stock, par value $.01"
FAQ
What insider equity awards did Jason Griffin New receive at Eastman Kodak (KODK)?
Jason Griffin New received 12,726 restricted stock units that convert one-for-one into Eastman Kodak common stock. These units were granted under the 2013 Omnibus Incentive Plan and, unless otherwise provided in the award, vest immediately before the company’s 2027 annual shareholders meeting.
How did Jason Griffin New use Eastman Kodak’s director deferred compensation plan?
Upon vesting of 16,393 restricted stock units on May 19, 2026, Jason Griffin New deferred receipt of the corresponding common shares. He instead received 16,393 shares of phantom stock under Eastman Kodak’s Deferred Compensation Plan for Directors in exchange for the same number of common shares.
What does Jason Griffin New’s phantom stock at Eastman Kodak (KODK) represent?
Each phantom stock share represents a right to receive one Eastman Kodak common share. It becomes payable, at Jason Griffin New’s election, in the year after he leaves the board, either as a single lump sum or in up to ten annual installments.
What Eastman Kodak common stock and options does Jason Griffin New hold after these transactions?
After the reported entries, Jason Griffin New directly holds 88,002 Eastman Kodak common shares. He also holds fully vested stock options with exercise prices from $3.03 to $12.00 covering separate blocks of 3,666, 6,416, 6,416, and 21,081 underlying common shares.
Were Jason Griffin New’s Eastman Kodak transactions open-market buys or sells?
The reported transactions are compensation and deferral related, not open-market trades. They include grants of restricted stock units and phantom stock and a disposition of restricted stock units to the issuer in connection with deferring vested shares into phantom stock under the director deferred compensation plan.