Byrd Roger W. 4
4 · EASTMAN KODAK CO · Filed Feb 18, 2026
Research Summary
AI-generated summary of this filing
Eastman Kodak (KODK) GC Roger Byrd Exercises Stock Options
What Happened Roger W. Byrd, General Counsel, Secretary and Senior Vice President of Eastman Kodak Company (KODK), exercised stock options to acquire 15,000 shares on February 17, 2026. The options were exercised at $3.03 per share (total option cost $45,450). As part of a net exercise, 8,107 shares were withheld to cover the exercise price and tax withholding (valued at $7.72 per share, $62,586), leaving Byrd with 6,893 newly issued shares. A related derivative conversion of 15,000 shares was recorded at $0.00 reflecting the option-to-stock conversion.
Key Details
- Transaction date: 2026-02-17; Form 4 filed: 2026-02-18 (timely filing).
- Exercise: 15,000 shares at $3.03 — acquisition cost $45,450.
- Withholding/tax payment: 8,107 shares withheld at $7.72 — value $62,586.
- Net shares retained from this transaction: 6,893 shares (plus any prior holdings not reported here).
- Notable footnotes: net exercise and share withholding were done under the company’s policy and the 2013 Omnibus Incentive Plan; the exercise was exempt under Rule 16b-3. Options were scheduled to expire on Feb 19, 2026.
- Transaction codes: M = option exercise; F = payment of exercise price/tax via share withholding.
Context This was a net (cashless) exercise of vested options — a routine insider action where newly issued shares are used to pay the exercise price and taxes, reducing the number of shares the insider actually receives. Withholding shares to cover taxes is standard and does not by itself indicate a decision to sell existing holdings. The filing shows the mechanics and the net increase in Byrd’s holdings from this exercise.
Insider Transaction Report
- Exercise/Conversion
Common Stock, par value $.01
[F1]2026-02-17$3.03/sh+15,000$45,450→ 104,271 total - Tax Payment
Common Stock, par value $.01
[F1]2026-02-17$7.72/sh−8,107$62,586→ 96,164 total - Exercise/Conversion
Stock Option (Right to Buy)
[F1][F2]2026-02-17−15,000→ 0 totalExercise: $3.03Exp: 2026-02-19→ Common Stock, par value $.01 (15,000 underlying)
- 8,334
Restricted Stock Units
[F3]Exercise: $0.00→ Common Stock, par value $.01 (8,334 underlying) - 25,000
Performance Stock Units
[F4]Exercise: $0.00→ Common Stock, par value $.01 (25,000 underlying) - 25,000
Stock Option (Right to Buy)
[F5]Exercise: $4.28Exp: 2030-05-17→ Common Stock, par value $.01 (25,000 underlying) - 25,000
Stock Option (Right to Buy)
[F6]Exercise: $4.28Exp: 2030-05-17→ Common Stock, par value $.01 (25,000 underlying) - 10,000
Stock Option (Right to Buy)
[F2]Exercise: $4.53Exp: 2029-02-19→ Common Stock, par value $.01 (10,000 underlying) - 10,000
Stock Option (Right to Buy)
[F2]Exercise: $6.03Exp: 2029-02-19→ Common Stock, par value $.01 (10,000 underlying) - 10,000
Stock Option (Right to Buy)
[F2]Exercise: $12.00Exp: 2029-02-19→ Common Stock, par value $.01 (10,000 underlying) - 30,457
Stock Option (Right to Buy)
[F2]Exercise: $12.50Exp: 2027-09-13→ Common Stock, par value $.01 (30,457 underlying)
Footnotes (6)
- [F1]The reporting person exercised stock options and used a portion of the shares to pay the option exercise price and cover tax withholding obligations (a "net exercise") by electing to have the issuer withhold shares otherwise deliverable after the stock option exercise. The reporting person retained all of the remaining shares. The stock options were granted under the Company's 2013 Omnibus Incentive Plan, as amended, in a transaction exempt under Rule 16b-3, and were scheduled to expire on February 19, 2026. The reporting person exercised the stock options in a transaction exempt under Rule 16b-3 in accordance with a policy adopted by the Compensation, Nominating and Governance Committee of the Board of Directors allowing employees to net exercise stock options as long as the stock options are scheduled to expire within three months of the date of exercise.
- [F2]This option is fully vested as of the date of this report.
- [F3]These restricted stock units, which convert into common stock on a one-for-one basis, will vest on 5/17/2026, except as otherwise provided in the award notice.
- [F4]These performance stock units, which convert into common stock on a one-for-one basis, will vest on 5/17/2026 if the volume-weighted average price per share of common stock within the 20 trading day period before the vesting date exceeds a specified price, except as otherwise provided in the award notice.
- [F5]Two-thirds of the original grant of this option vested in substantially equal installments on each of 5/17/2024 and 5/17/2025, and except as otherwise provided in the award notice, the balance vests on 5/17/2026.
- [F6]This option will vest on 5/17/2026 if the volume-weighted average price per share of common stock within the 20 trading day period before the vesting date exceeds a specified price, except as otherwise provided in the award notice.