4//SEC Filing
McGloin William 4
Accession 0001140361-26-002046
CIK 0000020520other
Filed
Jan 21, 7:00 PM ET
Accepted
Jan 22, 4:02 PM ET
Size
14.6 KB
Accession
0001140361-26-002046
Research Summary
AI-generated summary of this filing
Frontier (FYBR) CAO William McGloin Cashes 17,077 Shares, Converts 6,558
What Happened
- William McGloin, Chief Accounting Officer of Frontier Communications Parent, Inc. (FYBR), had a total of 23,635 shares/equivalents disposed to the issuer on Jan 20, 2026 as part of Frontier's merger into Verizon.
- Of those, 17,077 awards were vested/cancelled and cashed out at the merger price of $38.50 per share (17,077 × $38.50 ≈ $657,465). The remaining 6,558 award units were converted into unvested Parent restricted stock units (Parent RSUs) using the merger exchange ratio (38.5 / 39.7141 ≈ 0.97), resulting in roughly 6,361 Parent RSUs (approximate).
- These were dispositions to the issuer under the Merger Agreement (not open-market sales). The cash and conversions reflect treatment of outstanding shares, vested RSUs/PSUs, and remaining RSU/PSU portions at the effective time of the merger.
Key Details
- Transaction date: January 20, 2026 (Effective Time of the merger).
- Cash price paid: $38.50 per share for vested/cancelled awards.
- Total shares/equivalents affected: 23,635 (17,077 cashed; 6,558 converted).
- Approximate cash received: $657,465 for the cashed portion.
- Exchange ratio for converted awards: 38.5 / 39.7141 ≈ 0.97; converted units became Parent RSUs subject to Parent vesting terms.
- Transaction code on Form 4: D (Disposition to issuer — merger consideration / award cancellation/conversion).
- Shares owned after the transactions: not disclosed in the provided filing excerpt.
- Filing: Form 4 covering 01/20/2026 was filed 01/22/2026 (timely — Form 4 is due within two business days).
Context
- These actions resulted from the Merger Agreement (Frontier merged into a Verizon subsidiary). Outstanding common shares were converted into the right to receive $38.50 per share in cash; certain RSUs/PSUs were cashed out if vested or converted into Parent RSUs if unvested.
- This is a corporate-merger-driven disposition (routine treatment of awards at closing), not an open-market sale by the insider — it does not necessarily indicate the insider’s view of future stock performance.
Insider Transaction Report
Form 4Exit
McGloin William
Chief Accounting Officer
Transactions
- Disposition to Issuer
Common Stock
[F1][F2]2026-01-20−9,267→ 7,810 total - Disposition to Issuer
Common Stock
[F3]2026-01-20−5,556→ 2,254 total - Disposition to Issuer
Common Stock
[F4]2026-01-20−2,254→ 0 total - Disposition to Issuer
Performance-based Restricted Stock Unit
[F5]2026-01-20−4,803→ 1,755 totalExercise: $0.00→ Common Stock (4,803 underlying) - Disposition to Issuer
Performance-based Restricted Stock Unit
[F6]2026-01-20−1,755→ 0 totalExercise: $0.00→ Common Stock (1,755 underlying)
Footnotes (6)
- [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 the time-based restricted stock units ("RSUs") previously granted on March 13, 2023 and March 13, 2024, as well as a prorated portion of the RSUs granted on March 12, 2025 ("2025 RSUs"), which at the Effective Time were vested and canceled and the holder thereof became entitled to receive an amount in cash equal to the number of Shares underlying such award multiplied by $38.50.
- [F4]Represents the remaining portion of 2025 RSUs which, at the Effective Time, was converted into a number of unvested restricted stock units of Parent ("Parent RSUs") equal to the number of such RSUs multiplied by an exchange ratio equal to (38.5/39.7141), which was obtained by dividing the Merger Consideration by the five day volume weighted average price of Parent common stock ending with the second complete trading day immediately prior to the Effective Date (the "Exchange Ratio"). The Parent RSUs are subject to the same terms and conditions as applied to the RSUs prior to the Effective Time.
- [F5]Represents the performance-based restricted stock units ("PSUs") previously granted in respect of the 2024-2026 performance period, as well as a prorated portion of the PSUs previously granted in respect of the 2025-2027 performance period ("2025-2027 PSUs"), which at the Effective Time were vested and canceled and the holder thereof became entitled to receive an amount in cash equal to the number of Shares underlying such award multiplied by $38.50, based on attainment of all applicable performance goals at the actual level of performance measured at the Effective Time.
- [F6]Represents the remaining portion of 2025-2027 PSUs which, at the Effective Time, was converted into a number of Parent RSUs equal to the number of such PSUs, based on attainment of all applicable performance goals at the actual level of performance measured at the Effective Time, multiplied by the Exchange Ratio. The Parent RSUs are subject to the same terms and conditions as applied to the PSUs (excluding performance-based vesting conditions) prior to the Effective Time.
Signature
/s/ Anne C. Meyer, under Power of Attorney|2026-01-22
Documents
Issuer
Frontier Communications Parent, Inc.
CIK 0000020520
Entity typeother
Related Parties
1- filerCIK 0001935571
Filing Metadata
- Form type
- 4
- Filed
- Jan 21, 7:00 PM ET
- Accepted
- Jan 22, 4:02 PM ET
- Size
- 14.6 KB