IBM Director Marianne Brown Receives 415-Share Award

What Happened

• Marianne Catherine Brown, a director of International Business Machines Corp. (IBM), was granted 415 Promised Fee Shares on 2026-09-30. The filing lists the award at $219.93 per share, totaling approximately $91,271. The reported transaction type is an award/acquisition (code A) of a derivative equity interest.

Key Details

• Transaction date: 2026-09-30; Form 4 filed 2026-10-01 (timely filing).
• Price/value: 415 shares × $219.93 = $91,271 (reported).
• Transaction code: A (Grant/Award); classified as a derivative award in the filing.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: These are "Promised Fee Shares" under the IBM Board of Directors Deferred Compensation and Equity Award Plan — fees deferred into share awards and distribution of these shares is deferred until the director's retirement (F1–F3).

Context

• This was an award of deferred compensation (not an open-market purchase or sale). Promised Fee Shares are routinely used to defer director fees into equity and are typically paid out in stock or cash after retirement; they do not necessarily indicate immediate buying or selling intent.