Bell Madeline S. 4

What Happened

• Madeline S. Bell, a director of Comcast Corporation, had deferred/phantom awards converted into 5,096 shares of Class A common stock on January 20, 2026. The Form 4 shows an "exercise/conversion" (code M) for 5,096 shares at $0.00 (acquired) and a corresponding disposition of a derivative instrument for 5,096 shares at $0.00. Fractional shares were settled in cash. This was a conversion of awards, not an open-market buy or sale.

Key Details

• Transaction date: January 20, 2026; Form 4 filed January 22, 2026 (filed two days after the transaction).
• Reported transactions: 5,096 shares acquired via exercise/conversion (code M) at $0.00; 5,096 shares reflected as a disposition of a derivative instrument at $0.00.
• Shares owned after the transaction: not specified in the filing.
• Notable footnotes: (1) settlement was of phantom stock and fractional shares paid in cash; (2) price shown as $0.00 (conversion of award); (3) award totals adjusted for the Versant Media Group spin-off; (4) securities convert on a one-for-one basis; (5) automatic conversion to Class A common stock pursuant to a previously deferred award.
• Filing timeliness: filed two days after the transaction; appears to meet the typical Form 4 reporting window.

Context

• This was an award conversion/settlement of deferred or phantom stock into common shares rather than a cash purchase or standard market sale. Such conversions are typically administrative/compensation events and do not by themselves indicate the insider buying or selling stock in the open market.