VOSER PETER R. 4

What Happened
Peter R. Voser, a director of International Business Machines Corp. (IBM), was granted 413 Promised Fee Shares (reported as a derivative award) on 2026-03-31 at $242.39 per share, totaling $100,107. The filing reports an award/grant (transaction code A) under IBM’s Board of Directors Deferred Compensation and Equity Award Plan rather than an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-31; Form 4 filed: 2026-04-01 (timely).
• Award: 413 Promised Fee Shares @ $242.39 each; total value reported $100,107.
• Security type: Derivative (Promised Fee Shares under director deferred compensation plan).
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes (summary): F1–F3 indicate these Promised Fee Shares represent deferred director fees paid out after retirement in IBM common stock or cash; distribution is deferred until retirement.
• Transaction code: A = Award/Grant.

Context
This is a compensation deferral award to a director, not a market purchase or sale, and distribution is deferred until retirement (so the shares are not immediately tradable). Such grants are routine for board members and should be interpreted differently from open-market purchases or insider sales.