Key facts
- This page summarizes INTERNATIONAL BUSINESS MACHINES CORP's Form 4 filing for Kyndryl Holdings, Inc. (KD).
- 2 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 23 May 2022, 17:00.
INTERNATIONAL BUSINESS MACHINES CORP - 19 May 2022 Form 4 Insider Report for Kyndryl Holdings, Inc. (KD)
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- KD
- Reported as of
- 19 May 2022
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 23 May 2022, 17:00:56 UTC
- Prior SEC filing
- 04 Nov 2021
- Source filing
- View source filing
- Reporting owner signature
- /s/ Frank Sedlarcik, Vice President, Assistant General Counsel and Secretary
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Filing notes and source
Key filing fact
INTERNATIONAL BUSINESS MACHINES CORP filed Form 4 for Kyndryl Holdings, Inc. (KD) on 23 May 2022.
Change
- Previous filing in this sequence was filed on 04 Nov 2021.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
KD
transaction
Common stock, par value $0.01 per share
Sale
- Transaction value
- -$311,106,427
- Shares
- -22,301,536
- Change %
- -50%
- Price
- $13.95
- Shares after
- 22,301,536
- Date
- 19 May 2022
- Ownership
- Direct
- Footnotes
- F1
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
KD
transaction
Derivative
Cash-Settled Swap
Purchase
- Transaction value
- $311,106,427
- Shares
- +22,301,536
- Change %
- Price
- $13.95
- Shares after
- 22,301,536
- Date
- 19 May 2022
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 22,301,536
- Exercise price
- Footnotes
- F2
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
INTERNATIONAL BUSINESS MACHINES CORP is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 2 footnotes
Footnote F1
The reporting person exchanged 22,301,536 shares of the common stock of the Issuer, together with $46 million in cash, to extinguish $357 million aggregate principal amount of indebtedness under a short-term credit facility of the reporting person in a debt-for-equity exchange.
Footnote F2
The reporting person entered into a cash-settled swap with the lender of the short-term credit facility as counterparty that established economic exposure to 22,301,536 shares of common stock of the Issuer (the number of shares, the "Notional Amount"). The swap agreement provides that, upon settlement of the swap, which will occur no later than November 2, 2022, if the arithmetic average of the volume-weighted average prices of the Issuer's common stock over the observation period of the swap (plus a guaranteed spread) is: (i) greater than $13.95, the counterparty will deliver to the reporting person an amount equal to the difference multiplied by the Notional Amount or (ii) less than $13.95, the reporting person will deliver to the counterparty an amount equal to the difference multiplied by the Notional Amount.