Beasley Scott C 4
Accession 0001140361-26-002045
Filed
Jan 21, 7:00 PM ET
Accepted
Jan 22, 4:02 PM ET
Size
9.6 KB
Accession
0001140361-26-002045
Research Summary
AI-generated summary of this filing
Frontier (FYBR) CFO Scott Beasley Sells 536,413 Shares
What Happened
Scott C. Beasley, Chief Financial Officer of Frontier Communications Parent, Inc., had 536,413 shares/units disposed on January 20, 2026 in connection with the company’s merger into Verizon. Under the merger agreement, each Frontier share (and vested RSUs/PSUs) converted into the right to receive $38.50 in cash per share. The aggregate cash value of the dispositions is approximately $20,651,900.50.
Key Details
- Transaction date: January 20, 2026 (reported on Form 4 filed January 22, 2026). Filing appears timely under Form 4 rules (within two business days).
- Dispositions reported on the Form 4:
- 251,225 shares converted to cash (per Merger Agreement) — value ≈ $9,672,162.50
- 69,249 shares converted to cash — value ≈ $2,666,086.50
- 215,939 derivative units (RSUs/PSUs) canceled/settled in cash (listed at $0.00 in filing) — value ≈ $8,313,651.50
- Total shares/units disposed: 536,413; total cash received (per Merger terms at $38.50/share): ≈ $20.65M.
- Footnotes: F1–F4 explain the January 20, 2026 merger (Merger Sub merged into Frontier), automatic $38.50-per-share cash conversion for outstanding shares (F2), and cancellation/ cash settlement of time‑based RSUs (F3) and performance-based PSUs (F4 — treated as vested based on actual performance).
- Shares owned after the transaction: not specified in the provided filing details.
Context
These dispositions are merger-related cash settlements (not open-market sales). They reflect the contractual conversion and cash-out of common shares and vested restricted stock units under the Merger Agreement with Verizon, rather than a discretionary sale by the insider.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2]2026-01-20−251,225→ 69,249 total - Disposition to Issuer
Common Stock
[F3]2026-01-20−69,249→ 0 total - Disposition to Issuer
Performance-based Restricted Stock Unit
[F4]2026-01-20−215,939→ 0 totalExercise: $0.00→ Common Stock (215,939 underlying)
Footnotes (4)
- [F1]In connection with the terms of the Agreement and Plan of Merger, dated September 4, 2024 (the "Merger Agreement"), by and among the Issuer, Verizon Communications Inc. ("Parent"), France Merger Sub Inc., a wholly owned Subsidiary of Parent ("Merger Sub"), in accordance with the Merger Agreement, Merger Sub merged with and into the Issuer, with the Issuer surviving such merger as a wholly-owned subsidiary of Parent upon the consummation of the merger on January 20, 2026 (the "Effective Time").
- [F2]At the Effective Time, each outstanding share of Issuer common stock ("Share") was automatically converted into the right to receive an amount in cash equal to $38.50 per share, without interest.
- [F3]Represents each outstanding time-based restricted stock unit ("RSUs") which, at the Effective Time, vested and was canceled, with the holder thereof entitled to receive an amount in cash equal to the number of Shares underlying such RSUs multiplied by $38.50.
- [F4]Represents each outstanding performance-based restricted stock units ("PSUs") which, at the Effective Time, vested and was canceled, with the holder thereof entitled to receive an amount in cash equal to the number of Shares underlying such PSUs multiplied by $38.50, based on attainment of all applicable performance goals at the actual level of performance measured at the Effective Time.
Signature
Documents
Issuer
Frontier Communications Parent, Inc.
CIK 0000020520
Related Parties
1- filerCIK 0001754397
Filing Metadata
- Form type
- 4
- Filed
- Jan 21, 7:00 PM ET
- Accepted
- Jan 22, 4:02 PM ET
- Size
- 9.6 KB