ZOLLAR ALFRED W 4

What Happened
Alfred W. Zollar, a director of International Business Machines Corp. (IBM), was granted 325 Promised Fee Shares on 2026-06-30. The award is reported as a derivative grant (Form 4 code A) at a per-share value of $281.21, for a total value of $91,393. This was an award/deferral of director fees, not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-30; Form 4 filed: 2026-07-02.
• Transaction type/code: Grant/Award (A) — derivative/Promised Fee Shares.
• Amount: 325 shares; reported value: $281.21 per share; total value $91,393.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: Promised Fee Shares are director fees deferred under the IBM Board of Directors Deferred Compensation and Equity Award Plan; payout is deferred until retirement and may be settled in IBM common stock or cash (see F1–F3).

Context
Director fee awards paid as deferred stock are common compensation for board members and are generally routine administrative events rather than market-timing signals. Such derivative awards indicate deferred pay arrangements; they do not necessarily reflect the insider’s short-term view of the stock. Purchases (buys) are typically more informative for signaling intent than awards or routine compensation.