Moody’s (MCO) director Jose Minaya receives 93 Phantom Stock Units as deferred pay

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Moody's Corporation director Jose Minaya reported receiving a grant of 93.388 Phantom Stock Units as deferred compensation for board retainer fees. These units are tied to Moody's common stock value at a reference price of $438.78 per share and convert on a one-for-one basis.

Following this grant, Minaya holds a total of 1,166.089 Phantom Stock Units. The units will be settled in cash after his retirement, so this filing reflects a compensation-related accrual rather than an open-market stock purchase or sale.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Minaya Jose

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units (Deferred Compensation)	93.388	$438.78	$41K

Holdings After Transaction: Phantom Stock Units (Deferred Compensation) — 1,166.089 shares (Direct)

Footnotes (1)

Phantom Stock Units arising out of the Reporting Person's election to defer receipt of retainer fees. The security converts to common stock on a one-for-one basis. These units are to be settled in cash after the Reporting Person's retirement.

Key Figures

Phantom Stock Units granted: 93.388 units Reference price per unit: $438.7800 per share Total Phantom Units after grant: 1,166.089 units +1 more

4 metrics

Phantom Stock Units granted 93.388 units Deferred compensation grant on 2026-04-01

Reference price per unit $438.7800 per share Underlying Moody’s common stock value used in grant

Total Phantom Units after grant 1,166.089 units Holdings following the reported transaction

Underlying shares per unit 1:1 ratio Each unit converts based on one share of common stock

Key Terms

Phantom Stock Units, Deferred Compensation, retainer fees, one-for-one basis

4 terms

Phantom Stock Units financial

"Phantom Stock Units arising out of the Reporting Person's election to defer receipt of retainer fees."

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Deferred Compensation financial

"Phantom Stock Units (Deferred Compensation)"

Deferred compensation is pay that employees or executives have earned now but will receive at a later date, such as delayed bonuses, retirement benefits, or stock grants. It matters to investors because it creates future obligations and shapes incentives—like a promise to pay later that can affect a company’s reported profits, cash needs and potential stock dilution—so it helps signal how a business manages costs and retains key people.

retainer fees financial

"election to defer receipt of retainer fees."

one-for-one basis financial

"The security converts to common stock on a one-for-one basis."

Form 4 Insider Transactions: What Each Field Means →

04/03/2026 - 04:03 PM

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
Estimated average burden
hours per response:			0.5

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^*

Minaya Jose

(Last)

(First)

(Middle)

7 WORLD TRADE CENTER,

250 GREENWICH STREET

(Street)

NEW YORK

10007

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
MOODYS CORP /DE/ [ MCO ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units (Deferred Compensation)⁽¹⁾	⁽²⁾	04/01/2026		A		93.388		⁽³⁾	⁽³⁾	Common Stock	93.388	$438.78	1,166.089	D

Explanation of Responses:

1. Phantom Stock Units arising out of the Reporting Person's election to defer receipt of retainer fees.

2. The security converts to common stock on a one-for-one basis.

3. These units are to be settled in cash after the Reporting Person's retirement.

Remarks:

	Elizabeth McCarroll by power of attorney for Jose Minaya	04/03/2026
	** 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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Jose Minaya report at Moody's (MCO)?

Jose Minaya reported receiving 93.388 Phantom Stock Units as deferred compensation. The units are linked to Moody’s common stock at a reference value of $438.78 per share and will be settled in cash after his retirement, not through open-market trading.

Is the Jose Minaya Form 4 for Moody's (MCO) a stock purchase or sale?

The Form 4 does not show a stock purchase or sale. Instead, it reports a grant of Phantom Stock Units as deferred retainer fees, a compensation arrangement that tracks Moody’s share value but is ultimately settled in cash after Minaya’s retirement.

How many Phantom Stock Units does Jose Minaya now hold at Moody's (MCO)?

After the reported grant, Jose Minaya holds a total of 1,166.089 Phantom Stock Units. These units mirror the value of Moody’s common stock on a one-for-one basis and represent deferred compensation to be paid in cash upon his retirement.

What are Phantom Stock Units in the Moody's (MCO) Form 4 for Jose Minaya?

Phantom Stock Units are a deferred compensation instrument that tracks the value of Moody’s common stock. Minaya’s units convert on a one-for-one basis for valuation purposes but will be settled in cash after retirement rather than delivered as actual shares.

How was the value of Jose Minaya’s Phantom Stock Units at Moody's (MCO) determined?

The units in this filing use a reference price of $438.78 per underlying share of Moody’s common stock. This reference price helps determine the value of the 93.388 Phantom Stock Units that Minaya received as deferred retainer fees for his board service.