M&A - Frontier Communications Parent, Inc.

Form Type: DEF 14A

Filing Date: 2025-04-09

Corporate Action: Merger

Type: Update

Accession Number: 000114036125012956

Filing Summary: Frontier Communications Parent, Inc. is preparing for its 2025 Annual Meeting of Stockholders scheduled for May 21, 2025. The primary agenda includes the election of ten directors, ratifying the appointment of KPMG LLP as the independent registered public accounting firm for 2025, and approving, on an advisory basis, the named executive officer compensation. Stockholders on record as of March 25, 2025, are eligible to vote. The document includes a significant update on Frontier's strategic achievements in the past year, including revenue growth and improvements in operational efficiency. It emphasizes the company's transformation from bankruptcy to becoming a leader in fiber internet service. The document highlights a planned merger with Verizon Communications, where Frontier's shareholders will receive $38.50 per share in cash, highlighting the approval of this transaction by stockholders with 63% voting in favor. The merger is expected to close in the first quarter of 2026, pending regulatory approvals.

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Form Type: 8-K

Filing Date: 2024-12-23

Corporate Action: Merger

Type: Update

Accession Number: 000114036124050269

Filing Summary: 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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