Philippe Katz Increases KODK Stake; RSUs, Phantom Stock, Vested Options Disclosed

Rhea-AI Filing Summary

Philippe D. Katz, a director and >10% owner of Eastman Kodak Company (KODK), reported purchases and holdings on 08/14/2025. An attorney-in-fact executed the Form 4.

Mr. Katz purchased 10,000 shares of common stock at $5.67 per share. After the transaction he directly owned 180,026 shares and reported multiple indirect holdings through entities totaling 2,522,011, 1,569,870, 7,598, 87,720, and 48,875 shares respectively. He also holds 16,393 restricted stock units, 125,871 phantom stock rights, and several vested stock options exercisable into common stock.

Positive

• Open-market purchase of 10,000 shares at $5.67, increasing direct ownership to 180,026 shares
• Extensive indirect holdings disclosed across multiple entities (KF Investors LLC: 2,522,011; Momar Corporation: 1,569,870; other entities listed)
• Equity compensation disclosed: 16,393 RSUs, 125,871 phantom stock rights, and several stock options, some fully vested

Negative

• None.

Insights

Financial Analyst

TL;DR: Director executed a modest open-market purchase; substantial indirect holdings and vested options increase his economic exposure to KODK.

Mr. Katz's reported 10,000-share purchase at $5.67 is a clear open-market acquisition increasing his direct stake to 180,026 shares. Materiality for the company is limited absent context on total shares outstanding or recent trading volume, but the filing confirms significant indirect ownership via several entities and multiple equity-based awards, including 16,393 RSUs and 125,871 phantom shares. Vested options listed with exercise prices and expiration dates further align his interests with equity performance.

Corporate Governance Expert

TL;DR: Routine Section 16 disclosure showing director's purchase and aggregated ownership via affiliated entities; no governance red flags disclosed.

The Form 4 documents a standard disclosure: direct purchase, extensive indirect holdings with disclaimers of beneficial ownership to the extent of pecuniary interest, and equity awards with vesting/payment terms defined. The RSU vesting schedule and phantom stock payout timing are specified, and options noted as fully vested where applicable. The reporting follows required mechanics and includes an attorney-in-fact signature.

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
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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^*

Katz Philippe D

(Last) (First) (Middle)

C/O EASTMAN KODAK COMPANY

343 STATE STREET

(Street)

ROCHESTER NY 14650

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
EASTMAN KODAK CO [ KODK ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025

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, par value $.01	08/14/2025		P		10,000	A	$5.67	180,026	D
Common Stock, par value $.01								2,522,011	I	Owned by KF Investors LLC(1)
Common Stock, par value $.01								1,569,870	I	Owned by Momar Corporation(2)
Common Stock, par value $.01								7,598	I	Owned by United Equities Commodities Company(3)
Common Stock, par value $.01								87,720	I	Owned by Marneu Holding Company(4)
Common Stock, par value $.01								48,875	I	Owned by 111 John Realty Corp.(5)

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
Restricted Stock Units	$0(6)							(6)	(6)	Common Stock, par value $.01	16,393		16,393	D
Phantom Stock	$0(7)							(7)	(7)	Common Stock, par value $.01	125,871		125,871	D
Stock Option (Right to Buy)	$3.03							(8)	05/19/2027	Common Stock, par value $.01	25,297		25,297	D
Stock Option (Right to Buy)	$4.53							(8)	05/19/2030	Common Stock, par value $.01	7,699		7,699	D
Stock Option (Right to Buy)	$6.03							(8)	05/19/2030	Common Stock, par value $.01	7,699		7,699	D
Stock Option (Right to Buy)	$12							(8)	05/19/2030	Common Stock, par value $.01	4,400		4,400	D

Explanation of Responses:

1. 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.

2. 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.

3. 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.

4. 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.

5. 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.

6. These restricted stock units, which convert into common stock on a one-for-one basis, vest on the day immediately preceding the Company's 2026 annual meeting of shareholders, except as otherwise provided in the award notice.

7. 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.

8. This option has fully vested as of the date of this report.

	/s/ Roger W. Byrd, Attorney-in-Fact for Philippe D. Katz	08/14/2025
	** 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.
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FAQ

What transaction did Philippe D. Katz report on Form 4 for KODK?

The filing reports a purchase of 10,000 shares of KODK common stock on 08/14/2025 at a price of $5.67 per share.

How many KODK shares does Philippe D. Katz directly own after the transaction?

Following the reported purchase, Mr. Katz directly owns 180,026 shares of KODK common stock.

Does Mr. Katz have additional indirect holdings in KODK?

Yes. He reported indirect holdings through affiliated entities, including 2,522,011 shares via KF Investors LLC and 1,569,870 shares via Momar Corporation, among others.

What equity awards and options are disclosed in the Form 4?

The Form 4 lists 16,393 restricted stock units, 125,871 phantom stock rights, and multiple stock options convertible into common stock, with specified exercise prices and expirations; some options are fully vested.

Who signed the Form 4 and when was it filed?

The Form 4 was signed by Roger W. Byrd, Attorney-in-Fact for Philippe D. Katz on 08/14/2025.