IBM Director Andrew Liveris Acquires 444 Promised Fee Shares via Compensation Deferral

Executive Summary

On October 1, 2026, International Business Machines Corp (IBM) filed a Form 4 reporting that Director Andrew N. Liveris acquired 444 Promised Fee Shares on September 30, 2026, at a price of $219.93 per share, totaling approximately $97,648.92.

Transaction Details

• Nature of Transaction: The transaction represents the quarterly deferral of director fees into Promised Fee Shares pursuant to the IBM Board of Directors Deferred Compensation and Equity Award Plan (Transaction Code 'A').
• Terms: Payout of these shares is deferred until retirement, at which point distribution is made in IBM common stock or cash.
• Ownership Post-Transaction: Following this award, Director Liveris holds 45,262 Promised Fee Shares directly.

Market and Trading Assessment

• Significance: Low. This is a non-discretionary, scheduled equity acquisition stemming from the board fee deferral program rather than an open-market purchase.
• Takeaway: Routine compensation filings of this nature do not indicate a directional trading signal regarding the company's operational trajectory or stock outlook.