Byrd Roger W. 4

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.