M&A: Frontier Communications Parent, Inc.

Form Type: 8-K

Filing Date: 2024-12-23

Corporate Action: Merger

Type: Update

Accession Number: 000114036124050269

Comments: On September 4, 2024, Frontier Communications Parent, Inc. entered into a Merger Agreement with Verizon Communications Inc. and France Merger Sub Inc. Under this agreement, Merger Sub will be merged with Frontier, with Frontier surviving as a wholly owned subsidiary of Verizon. To prepare for this merger, on December 19, 2024, the Board's Compensation and Human Capital Committee approved the acceleration of vesting and payments for certain employee benefits, including annual cash incentive bonuses and restricted stock units for Named Executive Officers (NEOs). The actions taken aim to preserve tax deductions related to compensation and to mitigate excise taxes for the NEOs. Specific payments and stock awards for executives were outlined, reflecting significant amounts and shares awarded ahead of the merger. This report was signed and filed as of December 23, 2024.

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