Buberl Thomas 4

What Happened

• Thomas Buberl, a member of IBM's Board of Directors, was granted/allocated 377 shares as a deferred compensation award (transaction code A) on 2026-03-31. The grant is reported at $242.39 per share, for a reported value of $91,381. The filing lists the transaction as a "Derivative" award under IBM's board deferred compensation plan.

Key Details

• Transaction date and price: 2026-03-31 at $242.39 per share (total reported value $91,381).
• Transaction type: Award/Grant (code A); categorized as a derivative (Promised Fee Shares).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes:
  • F1/F3 — These are Promised Fee Shares under the IBM Board of Directors Deferred Compensation and Equity Award Plan and are paid out (in stock or cash) after the director’s retirement.
  • F2 — The reported shares reflect a deferral of board fees into Promised Fee Shares under the plan.
• Timeliness: Filed 2026-04-01 for a 2026-03-31 grant; appears to be timely (Form 4 filings for insiders are typically required within two business days).

Context

• This is a routine director compensation award under IBM’s deferred compensation plan rather than an open-market purchase or sale. Promised Fee Shares are a bookkeeping/allocation of deferred fees and are paid out in stock or cash after retirement, so they do not indicate an immediate market buy or sell. For retail investors, such director awards are common and primarily reflect compensation policy rather than a direct trading view by the insider.