Iverson Evan 4

What Happened

• Evan Iverson, Chief Operating Officer of Frontdoor, had restricted stock units convert into common shares (reported as derivative exercise/conversion). On 2026-03-31, 6,574 units converted into shares. To cover the tax liability from vesting, 1,798 of those shares were withheld at an implied value of $51.95 per share, equal to $93,406. That results in a net receipt of 4,776 shares. Separately, a new grant of 13,982 RSUs was reported on 2026-03-30 (no immediate cash value).

Key Details

• Transaction dates and amounts:
  • 2026-03-30: Grant of 13,982 RSUs @ $0.00 (new award; see F3).
  • 2026-03-31: Conversion/exercise of 6,574 RSU/derivative units into shares (code M).
  • 2026-03-31: 1,798 shares withheld to pay taxes @ $51.95 each = $93,406 (code F; see F2).
• Net shares received from the conversion: 4,776 (6,574 converted minus 1,798 withheld).
• Shares owned after transaction: not disclosed in this filing.
• Relevant footnotes:
  • F1/F3/F4: These are restricted stock units that convert one-for-one to common stock; the 3/30/2026 grant vests in three equal installments (3/30/27–29); the 3/31/2025 grant vests in three equal installments including 3/31/2026.
  • F2: Shares were withheld specifically to cover tax withholding obligations.
• Timeliness: Filing dated 2026-04-01 for transactions on 3/30–3/31/2026 — appears timely under standard Form 4 rules.

Context

• This was a settlement/vesting of RSUs with shares withheld to satisfy tax obligations (a cashless-type settlement), not an open-market sale. Withholding to pay taxes is routine and does not necessarily indicate selling pressure or a change in conviction.
• The 13,982‑unit grant reported on 3/30/2026 is a future-vesting award (multi-year vesting), so additional share conversions may occur on future vesting dates.