MILLS KAREN G 4
4 · Skillsoft Corp. · Filed Jun 26, 2026
Research Summary
AI-generated summary of this filing
Skillsoft (SKIL) Director Karen G. Mills Converts Derivative Awards
What Happened
Karen G. Mills, a director of Skillsoft Corp. (SKIL), had a derivative conversion on June 25, 2026. The filing reports 12,430 shares marked as "disposed" at $0.00 and 12,430 shares "acquired" at $0.00 (transaction code M — exercise/conversion of a derivative). This reflects a conversion of vested restricted stock units into an equal number of phantom stock shares; no cash was paid or received in the transaction.
Key Details
- Transaction date: 2026-06-25; Form 4 filed 2026-06-26 (timely filing).
- Reported amounts: 12,430 shares disposed @ $0.00 and 12,430 shares acquired @ $0.00.
- Transaction code: M (exercise or conversion of a derivative). The paired dispose/acquire entries reflect conversion of one award type into another, not a market sale or purchase.
- Shares owned after transaction: not specified in the provided filing excerpt.
- Relevant footnotes from the filing:
- F1: Each restricted stock unit (RSU) represents a contingent right to one share of Class A common stock.
- F2: The RSUs vest on the earlier of one year after grant or the next annual meeting, subject to continued service.
- F3: Phantom stock shares represent contingent rights to receive one Class A share and resulted from the election to defer settlement of vested RSUs (i.e., RSUs converted into phantom stock).
Context
This transaction is a non-cash conversion of vested awards (RSUs → phantom stock) and is not a buy or sell that signals a cash commitment or liquidation by the director. Phantom stock typically defers actual share delivery and/or cash settlement, so it reflects an election about timing of receipt rather than a market-directional trade.
Insider Transaction Report
- Exercise/Conversion
Restricted Stock Units
[F1][F2]2026-06-25−12,430→ 0 total→ Class A Common Stock (12,430 underlying) - Exercise/Conversion
Phantom Stock
[F3]2026-06-25+12,430→ 12,430 total→ Class A Common Stock (12,430 underlying)
Footnotes (3)
- [F1]Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock of the Issuer.
- [F2]The restricted stock units vest on the earlier of (i) the one-year anniversary of the date of grant or (ii) the date of the Issuer's next annual meeting of stockholders following the date of grant, subject to the Reporting Person's continued service.
- [F3]Each share of phantom stock represents a contingent right to receive one share of Class A Common Stock of the Issuer and resulted from the deferral of vested restricted stock unit award shares. The Reporting Person elected to defer the settlement of the vested restricted stock units on the scheduled vesting date such that the restricted stock units were converted into an equal number of shares of phantom stock.