Reid Thomas J. 4

What Happened

• Reid Thomas, Chief Legal Officer and Secretary of Comcast (CMCSA), converted/exercised 12,319 derivative awards (restricted stock units / phantom stock) on 2026-01-20. The exercise/conversion showed a $0.00 exercise price (i.e., no cash paid to acquire).
• To satisfy tax withholding, 4,676 shares were surrendered/disposed at $28.05 per share for a total of $131,162. Separately, 2,232.755 shares were sold in a discretionary transaction at $28.16 per share for proceeds of $62,874. The remaining value of the converted awards was cash-settled under the company’s deferred compensation plans per the filing.

Key Details

• Transaction date: 2026-01-20; Form 4 filed 2026-01-22 (appears timely under the 2-business-day rule).
• Exercise/conversion: 12,319 derivative awards reported as exercised/converted (transaction code M, $0.00 exercise price).
• Tax withholding: 4,676 shares withheld at $28.05/share for $131,162 (transaction code F).
• Discretionary sale: 2,232.755 shares sold at $28.16/share for $62,874 (transaction code I).
• Shares owned after the transactions: not reported in the provided filing summary.
• Notable footnotes:
  • Phantom stock: each phantom share equals the economic equivalent of one Class A common share and settles in cash under deferred compensation plans (F1, F2).
  • Some awards were adjusted due to a prior spin-off (F3); RSUs were vested on the transaction date (F4, F5).

Context

• These were vesting/conversion and cash-settlement events (not an out-of-pocket stock purchase). The $0.00 exercise price and the phantom-stock footnotes indicate the transaction involved deferred/phantom awards and RSUs that settled in cash rather than new share purchases.
• Tax-withholding and immediate sale of a portion are routine for settled awards to cover tax liabilities and do not by themselves indicate a change in the insider’s view of the company.