ZOLLAR ALFRED W 4

What Happened Alfred W. Zollar, a director of International Business Machines Corp. (IBM), was granted 377 Promised Fee Shares on 2026-03-31 as an award under IBM’s Board of Directors Deferred Compensation and Equity Award Plan. The filing lists a per-share value of $242.39, for a total grant value of approximately $91,381. This was an award/derivative transaction (code A) — not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-31 (Form 4 filed 2026-04-01).
• Grant: 377 shares valued at $242.39 each; total value ≈ $91,381.
• Transaction type: Award/derivative (A) — Promised Fee Shares under IBM’s director deferred compensation plan.
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1–F3 note these are Promised Fee Shares (deferral of board fees) and distribution is deferred until the director’s retirement; payout may be in IBM common stock or cash.
• Timeliness: Filing date is within normal Form 4 reporting windows (appears timely).

Context Promised Fee Shares are a form of deferred compensation for board members and are typically paid out after retirement; they are routine corporate compensation and do not reflect an open-market purchase or sale. Because this is an award tied to deferred fees (a non-market transaction), it should be interpreted as compensation-related rather than a direct insider bullish or bearish trade.