Eastman Kodak Company reported equity activity for its Executive Chairman and CEO, who is also a director. On 11/29/2025, the insider exercised restricted stock units (RSUs) that converted into common stock, adding 57,471 shares in one transaction and 196,335 shares in another at an exercise price of $0 per share, consistent with RSU terms. To cover tax withholding on these vestings, the company withheld 22,615 shares and 77,258 shares at a price of $7.64 per share. After these transactions, the insider directly owned 2,055,944 shares of Eastman Kodak common stock. In addition, the insider received a new grant of 163,613 RSUs under the company’s Amended and Restated 2013 Omnibus Incentive Plan, which are scheduled to vest in substantially equal installments on 11/29/2026, 11/29/2027 and 11/29/2028, subject to the award terms.
Eastman Kodak Company completed the pension reversion process for its Kodak Retirement Income Plan, fully settling all KRIP pension obligations and receiving excess pension assets of $1.023 billion as of November 26, 2025. The assets consisted of $614 million of cash and investment assets valued at $409 million.
Kodak directed $5 million of cash and $251 million of investment assets into the Kodak Cash Balance Plan, which will replace KRIP and is expected to provide employee benefits without additional cash cost. The remaining $609 million of cash and investments valued at $158 million were distributed to the company, including $312 million of cash used to prepay term loans, accrued interest and a prepayment premium, leaving a remaining term loan principal balance of $200 million.
Of the net cash of $297 million received, $153 million must be paid by December 31, 2025 for excise taxes. The investment assets, primarily hedge funds in redemption, are projected to yield about $100 million of cash by December 31, 2026, with most of the remainder expected in 2027 and 2028. The remaining $144 million of cash and future redemptions will be available for general corporate purposes.
Eastman Kodak Company director and 10% owner Philippe D. Katz reported buying additional common stock of EASTMAN KODAK CO (KODK). On 11/17/2025, he purchased 5,000 shares of common stock at a price of $7.35 per share in an open-market transaction, bringing his directly owned holdings to 185,026 shares.
In addition to his direct holdings, Mr. Katz reports indirect beneficial ownership of 2,522,011 shares held by KF Investors LLC, 1,569,870 shares held by Momar Corporation, 7,598 shares held by United Equities Commodities Company, 87,720 shares held by Marneu Holding Company, and 48,875 shares held by 111 John Realty Corp., while disclaiming beneficial ownership except to the extent of his pecuniary interest.
He also holds derivative interests: 16,393 restricted stock units that convert one-for-one into common stock and vest immediately before the company’s 2026 annual meeting of shareholders, 125,871 phantom stock units payable after his separation from service as a director, and several fully vested stock options to buy common stock at exercise prices of $3.03, $4.53, $6.03, and $12 with expirations including 05/19/2027 and 05/19/2030.
Eastman Kodak Company reported that longtime executive Terry Taber, Senior Vice President, Advanced Materials & Chemicals, Chief Technical Officer and Vice President, plans to retire effective January 2, 2026. Taber has served Kodak for about 45 years and is described as a key contributor to the company’s technological innovation, research and development, and the Advanced Materials & Chemicals division. After retiring, he will continue to support Kodak during the transition of his responsibilities and will serve as a consultant, for which he is expected to receive $25,000 per quarter in compensation.
Eastman Kodak (KODK) insider transaction: On 11/10/2025, Roger W. Byrd, General Counsel, Secretary and SVP, exercised 19,744 stock options at $3.09 and sold 19,744 common shares at $8 pursuant to a Rule 10b5-1 plan adopted on 06/16/2025.
Following the transactions, he beneficially owns 59,266 common shares directly. Derivative holdings listed include vested and time- or performance-based awards with future vesting and expiration dates as disclosed.
KODK filed a Form 144 reporting a proposed sale of 19,744 shares of common stock on the NYSE. The notice lists an aggregate market value of $153,805.76 and names Morgan Stanley Smith Barney LLC (Executive Financial Services, New York) as broker. The seller acquired the shares on 11/10/2025 through a cash exercise of stock options from the issuer, with the approximate sale date also on 11/10/2025. Shares outstanding were 96,400,000. The signer represents they do not know undisclosed material adverse information.
Eastman Kodak Company furnished a press release detailing its third quarter 2025 financial results. The company filed a Form 8-K under Item 2.02, with the press release included as Exhibit 99.1. This filing provides investors access to the company’s Q3 2025 performance information as shared in the press release.
Eastman Kodak Company reported third‑quarter results for the period ended September 30, 2025. Revenue was $269 million (up from $261 million), driven by Print annuities and Film & Chemicals within Advanced Materials & Chemicals. Gross profit rose to $68 million from $45 million as cost of revenues declined.
Quarterly net earnings were $13 million, while basic EPS attributable to common shareholders was $(0.08), reflecting capital structure effects. Year‑to‑date, revenue was $779 million with a $(20) million net loss. Operating cash use improved slightly to $(9) million.
Kodak addressed prior near‑term maturity concerns by amending its Term Loans and L/C facility and substantially settling KRIP pension obligations—about $2.1 billion—with the remainder to transfer to the PBGC by November 2025. Management expects a reversion of excess KRIP assets in December 2025 to fund required debt payments. Capital structure shifted as all Series C preferred was exchanged for 15,103,163 common shares on August 8, 2025, reducing redeemable preferred to $99 million. Cash was $168 million, and total equity rose to $762 million. Shares outstanding were 96.4 million as of October 31, 2025.
Eastman Kodak Company reported the completion of a pension-related transaction. On October 21, 2025, the Kodak Retirement Income Plan (KRIP), with State Street Global Advisors Trust Company acting as independent fiduciary, closed the purchase of an annuity contract with Metropolitan Tower Life Insurance Company and transferred related plan assets, as provided under a previously signed Commitment Agreement.
The company referenced prior disclosure from October 16, 2025 for the agreement’s terms and noted that the closing occurred pursuant to that agreement. This action moves benefit obligations to the insurer, with execution confirmed and documented by the company’s CFO.
Eastman Kodak Company entered a Commitment Agreement to purchase a nonparticipating single-premium group annuity from Metropolitan Tower Life Insurance Company, transferring approximately $1.8 billion of KRIP pension obligations. The annuity will be funded by KRIP assets, and the Company does not expect cash contributions. Closing is expected on October 21, 2025, covering about 27,000 participants, with the insurer assuming full administration in early 2026.
Approximately 3,600 participants elected lump sums. The Company settled about $76 million of obligations on October 1, 2025 and expects to settle about $157 million on or about November 1, 2025. Remaining liabilities for missing participants are expected to transfer to the PBGC missing program in November 2025. Upon completion, all KRIP obligations will be fully settled, and KRIP expects to distribute surplus assets to the Company and the Kodak Cash Balance Plan in December 2025.