[Form 4] Uniti Group Inc. Insider Trading Activity

Rhea-AI Filing Summary

Kinder Morgan (KMI) Form 4 filing: Vice President Sital K. Mody reported the sale of 45,549 Class P common shares on 1 Aug 2025 at a weighted-average price of $27.961 per share. The disposition was executed under a pre-arranged Rule 10b5-1 trading plan adopted 22 Apr 2024.

Following the transaction, the filing shows 0 shares beneficially owned, indicating that the officer no longer holds KMI common stock directly. No derivative security activity was reported.

The sale represents an estimated cash value of ≈$1.27 million (45,549 × $27.961). While sales under 10b5-1 reduce timing-signal risk, a complete divestiture by a senior executive can be interpreted as a potential negative sentiment indicator for some investors. However, it does not automatically imply changes to company fundamentals.

Positive

• Transaction executed under a disclosed Rule 10b5-1 plan, enhancing transparency and reducing insider-trading risk.
• Full price range disclosure allows investors to assess sale quality and volume.

Negative

• Senior officer liquidated 100 % of directly held shares (45,549), potentially signalling reduced confidence.
• Insider sale worth ≈$1.27 m may be viewed negatively by the market despite 10b5-1 protections.

Insights

Equity Analyst

TL;DR: Officer sells entire KMI stake ($1.27 m) via 10b5-1; mildly negative sentiment.

The filing shows Kinder Morgan’s Nat-Gas Pipelines VP liquidated all 45.5 k shares. Insider sales often raise concerns about valuation or upcoming headwinds, and the absence of any remaining holdings amplifies this perception. The 10b5-1 plan reduces the likelihood of information-based trading, but investors may still interpret the move as reduced long-term alignment. The dollar amount is modest relative to KMI’s $45 bn market cap, so fundamental impact is limited. I view the disclosure as marginally negative, worth monitoring for additional insider activity.

Corporate Governance Specialist

TL;DR: Transparent 10b5-1 process offsets governance risk; impact neutral-to-slightly negative.

From a governance standpoint, the pre-approved 10b5-1 plan and detailed price range disclosure comply with best practices, limiting litigation or perception risk. However, the complete divestiture by a key business line head removes a valuable alignment mechanism and could influence shareholder optics. No disclosure of derivative hedges mitigates complexity. Overall, sentiment impact modestly negative, governance compliance positive.

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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X

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^*

FRILOUX MICHAEL

(Last) (First) (Middle)

2101 RIVERFRONT DRIVE

SUITE A

(Street)

LITTLE ROCK AR 72202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Uniti Group LLC [ UNIT ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SEVP & Chief Technology Ofc

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		D		578,808(1)(2)(3)	D	(1)(2)(3)	0	D

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

Explanation of Responses:

1. On August 1, 2025, pursuant to the Agreement and Plan of Merger dated as of May 3, 2024, by and between Uniti Group LLC, a Delaware limited liability company (f/k/a Uniti Group Inc.) ("Old Uniti"), New Windstream, LLC, a Delaware limited liability company ("Windstream") (as successor to Windstream Holdings II, LLC, a Delaware limited liability company), New Uniti HoldCo LP, a Delaware limited partnership, and New Windstream Merger Sub, LLC, a Delaware limited liability company and indirect wholly owned subsidiary of Windstream, as amended by Amendment No. 1 to the Agreement and Plan of Merger, dated as of July 17, 2024, (i) each share of Old Uniti common stock

2. (Footnote 1 continued) ("Old Uniti Common Stock") held by the reporting person was converted into the right to receive 0.6029 shares of common stock of Uniti Group Inc., a Delaware corporation (f/k/a Windstream Parent, Inc.) ("New Uniti Common Stock"), together with cash in lieu of fractional shares of New Uniti Common Stock, and (ii) each award of restricted shares of Old Uniti Common Stock held by the reporting person (each, an "Old Uniti Restricted Stock Award") was converted into an award of restricted shares of New Uniti Common Stock (each, a "New Uniti Restricted Stock Award") subject to the same terms and conditions as were applicable to the corresponding Old Uniti Restricted Stock Award, with the number of shares of New Uniti Common Stock subject to such New Uniti Restricted Stock Award equal to the product of

3. (Footnote 2 continued) (x) the number of shares of Old Uniti Common Stock subject to the corresponding Old Uniti Restricted Stock Award and (y) 0.6029 (rounded up or down to the nearest whole share). Cash in lieu of fractional shares of New Uniti Common Stock will be calculated by multiplying the closing sale price of a share of New Uniti Common Stock on Nasdaq on August 4, 2025 by the fraction of a share of New Uniti Common Stock to which the reporting person would otherwise have been entitled, without interest and subject to any withholding of taxes.

	/s/ MICHAEL FRILOUX BY: DANIEL L. HEARD, ATTORNEY-IN-FACT	08/04/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

How many Kinder Morgan (KMI) shares did VP Sital Mody sell?

He sold 45,549 Class P common shares.

At what price were the KMI shares sold?

Weighted-average price reported was $27.961 per share, with trades ranging from $27.51–$28.21.

Does the officer still own Kinder Morgan stock after this sale?

According to the filing, 0 shares are beneficially owned following the transaction.

Was the sale conducted under a 10b5-1 trading plan?

Yes, the plan was adopted on 22 Apr 2024, providing an affirmative defense against insider-trading allegations.

What is the total cash value of the shares sold?

Approximately $1.27 million (45,549 × $27.961).