WADDELL FREDERICK H 4

What Happened Frederick H. Waddell, a director of International Business Machines Corp. (IBM), was awarded 403 Promised Fee Shares (derivative award) on 2026-03-31. The award is recorded at $242.39 per share, for a total value of approximately $97,683. This was an award/acquisition (code A) under IBM’s director deferred compensation plan—not an open‑market buy or sale.

Key Details

• Transaction date: 2026-03-31; Filing date: 2026-04-01.
• Award: 403 shares at $242.39 each; total value ≈ $97,683.
• Transaction type: Derivative award (Promised Fee Shares) under the IBM Board of Directors Deferred Compensation and Equity Award Plan.
• Shares owned after transaction: Not disclosed in this Form 4 filing.
• Footnotes: F1–F3 indicate these are Promised Fee Shares paid or deferred under the board deferred compensation plan and are distributed (or converted to stock/cash) after the director’s retirement.
• Timeliness: Filed the next day (appears timely).

Context Promised Fee Shares are a form of deferred compensation for directors and are typically paid out in company stock or cash upon retirement. Such awards are routine director compensation and do not necessarily signal a near‑term trading intent or change in sentiment; they differ from purchases or sales because they reflect compensation vesting or accrual rather than an insider buying or selling stock.