Frontier (FYBR) CEO equity converted to $38.50 cash in Verizon merger
Rhea-AI Filing Summary
Frontier Communications Parent, Inc. reports that its merger with Verizon Communications Inc. closed on January 20, 2026, making Frontier a wholly owned subsidiary of Verizon. In connection with this merger, each outstanding share of Frontier common stock was automatically converted into the right to receive $38.50 in cash per share, without interest.
For President & CEO and director Jeffery Nick, the Form 4 shows the disposition of 1,247,265 shares of common stock on January 20, 2026, followed by the disposition of a further 142,095 shares, leaving 0 shares beneficially owned. The filing also reports the cancellation of 778,919 performance-based restricted stock units, which vested and were converted into cash based on the number of underlying shares multiplied by the $38.50 per-share merger consideration and actual performance at the effective time.
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Insights
Form 4 reflects automatic cash-out of CEO equity at $38.50 in Verizon merger.
This Form 4 for Jeffery Nick, President & CEO and director of Frontier Communications Parent, Inc., documents the equity impact of Frontier’s merger with Verizon Communications Inc.. At the January 20, 2026 effective time, each Frontier common share was automatically converted into the right to receive $38.50 in cash, with no interest.
The filing shows dispositions of 1,247,265 shares of common stock, then an additional 142,095 shares, reducing Nick’s reported beneficial ownership in common stock to zero after the merger closed. It also records the vesting and cancellation of 778,919 performance-based restricted stock units, which were converted into cash based on the same $38.50 per-share merger consideration and actual performance goal attainment at the effective time.
These are merger-driven, automatic conversions rather than discretionary market trades, so they primarily confirm that the previously agreed merger terms were executed as of January 20, 2026. From an investment perspective, the key information is the confirmed cash consideration per share and the completion of the transaction that takes Frontier private under Verizon ownership.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Performance-based Restricted Stock Unit | 778,919 | $0.00 | -- |
| Disposition | Common Stock | 1,247,265 | $0.00 | -- |
| Disposition | Common Stock | 142,095 | $0.00 | -- |
Footnotes (1)
- In connection with the terms of the Agreement and Plan of Merger, dated September 4, 2024 (the "Merger Agreement"), by and among the Issuer, Verizon Communications Inc. ("Parent"), France Merger Sub Inc., a wholly owned Subsidiary of Parent ("Merger Sub"), in accordance with the Merger Agreement, Merger Sub merged with and into the Issuer, with the Issuer surviving such merger as a wholly-owned subsidiary of Parent upon the consummation of the merger on January 20, 2026 (the "Effective Time"). At the Effective Time, each outstanding share of Issuer common stock ("Share") was automatically converted into the right to receive an amount in cash equal to $38.50 per share, without interest. Represents each outstanding time-based restricted stock unit ("RSUs") which, at the Effective Time, vested and was canceled, with the holder thereof entitled to receive an amount in cash equal to the number of Shares underlying such RSUs multiplied by $38.50. Represents each outstanding performance-based restricted stock units ("PSUs") which, at the Effective Time, vested and was canceled, with the holder thereof entitled to receive an amount in cash equal to the number of Shares underlying such PSUs multiplied by $38.50, based on attainment of all applicable performance goals at the actual level of performance measured at the Effective Time.
