GO EK Ventures IV Converts 1.24M Series C into 15.1M Kodak Shares
Rhea-AI Filing Summary
GO EK Ventures IV, LLC, whose sole member is B. Thomas Golisano (a director and 10% owner), acquired 15,103,163 shares of Eastman Kodak common stock on 08/08/2025 by exchanging 1,241,871 shares of 5.00% Cumulative Series C Convertible Preferred Stock plus accrued and unpaid dividends. The parties agreed to an exchange price of $8.25 per share, and the Series C preferred converts into common stock on a ten-for-one basis.
Following the exchange, GO EK Ventures IV, LLC directly beneficially owns 15,103,163 common shares. The filing also discloses a separate disposition of 47,348 common shares by B. Thomas Golisano. The converted Series C preferred has no expiration date.
Positive
- 15,103,163 common shares acquired by GO EK Ventures IV, LLC via exchange of Series C preferred and accrued dividends
- Exchange price disclosed at $8.25 per share and conversion mechanics stated as 10-for-1
- Series C preferred noted as having no expiration date, a clear contractual term disclosed
Negative
- None.
Insights
TL;DR: A large preferred-for-common exchange issued 15.1M KODK shares at $8.25, reflecting a 10-for-1 conversion of Series C preferred.
The Form 4 shows GO EK Ventures IV, LLC received 15,103,163 common shares in exchange for 1,241,871 Series C preferred shares and accrued dividends at an agreed exchange price of $8.25 per share. The Series C converts at ten common shares per preferred share and has no expiration. The report also records a separate disposition of 47,348 common shares by B. Thomas Golisano. These are factual ownership and conversion disclosures; the filing does not provide pro forma share counts or broader capitalization details.
TL;DR: Director and 10% owner effected a direct conversion of Series C preferred into common stock, with ownership changes disclosed.
The filing identifies reporting persons as GO EK Ventures IV, LLC and B. Thomas Golisano, each listed as a director and a 10% owner. The filing discloses the mechanics of the exchange: 1,241,871 Series C preferred exchanged for 15,103,163 common shares at an $8.25 exchange price and a stated 10-for-1 conversion ratio. The Series C has no expiration date. The Form 4 provides transparent reporting of beneficial ownership changes but does not include additional corporate governance actions or board approvals in the text provided.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | 5.00% Cumulative Series C Convertible Preferred Stock | 1,241,871 | $0.00 | -- |
| Grant/Award | Common Stock | 15,103,163 | $8.25 | $124.60M |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- The Reporting Person was issued 15,103,163 shares of Common Stock pursuant to a Series C Preferred Stock Exchange Agreement with the Issuer dated August 8, 2025, in exchange for 1,241,871 shares of 5.00% Cumulative Series C Convertible Preferred Stock and accrued and unpaid dividends thereon. Under the Series C Preferred Stock Exchange Agreement with the Issuer, the parties agreed to an exchange price of $8.25 per share. Owned directly by GO EK Ventures IV, LLC and indirectly by its sole member, B. Thomas Golisano. Owned directly by B. Thomas Golisano. The 5.00% Cumulative Series C Convertible Preferred Stock is convertible into Common Stock at any time on a ten-for-one basis and has no expiration date.
