Brown Marianne Catherine 4

What Happened Marianne Catherine Brown, a director of International Business Machines Corp. (IBM), was granted 377 Promised Fee Shares on 2026-03-31 at a reported value of $242.39 per share, for a total reported value of $91,381. This was recorded as an award/derivative acquisition (transaction code A) under IBM’s director deferred compensation and equity award plan — not an open-market purchase or sale.

Key Details

• Transaction date: 2026-03-31; Filing date: 2026-04-01 (appears timely)
• Type/code: Grant/Award (A); classified as a derivative award
• Shares awarded: 377; Price/value: $242.39 each; Total value: $91,381
• Shares owned after transaction: not disclosed in the Form 4
• Footnotes: F1–F3 state these are "Promised Fee Shares" under the IBM Board of Directors Deferred Compensation and Equity Award Plan, paid out after retirement (in common stock or cash) and distribution is deferred until retirement
• No sale, exercise, or 10b5-1 plan noted in this filing

Context These Promised Fee Shares reflect deferred director compensation that vests/pays out contingent on retirement under IBM’s plan. Such awards are routine compensation for board service and do not represent an open-market buy or sell signal by the insider.