SVP & Chief Operating Officer Iverson Evan exercised 6,077 shares at a strike of $26.42 and sold $778,622 worth of shares (14,577 units at $53.41), decreasing direct ownership by 65% to 4,593 units (SEC Form 4)
$FTDR
Diversified Commercial Services
Finance
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
| Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10. | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
Frontdoor, Inc. [ FTDR ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 05/08/2025 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 05/08/2025 | M | 6,077 | A | $26.42 | 19,170 | D | |||
| Common Stock | 05/08/2025 | S | 6,077 | D | $53.4078(1) | 13,093 | D | |||
| Common Stock | 05/08/2025 | S | 8,500 | D | $53.4192(2) | 4,593 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Employee Stock Options (Right to Buy) | $26.42 | 05/08/2025 | M | 6,077 | (3) | 03/27/2033 | Common Stock | 6,077 | $0 | 22,773 | D | ||||
| Explanation of Responses: |
| 1. This transaction was executed in multiple trades at prices ranging from $53.26 to $53.57, inclusive. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. |
| 2. This transaction was executed in multiple trades at prices ranging from $53.26 to $53.61, inclusive. The price reported above reflects the weighted average sales price. The reporting person hereby undertakes to provide the Securities and Exchange Commission staff, the issuer, or a security holder of the issuer, upon request, full information regarding the number of shares sold at each separate price within the range set forth above. |
| 3. Reflects non-qualified stock options with time- and performance-based vesting conditions awarded to the Reporting Person on March 27, 2023. The award includes three tranches of 6,077, 9,393 and 13,380 options respectively, each with a separate performance condition based on the volume-weighted average price of the Company's common stock on the NASDAQ of $32.23, $35.14 and $38.31, respectively, over any 20 consecutive trading-day period. The time-based vesting condition for all three tranches was satisfied on March 27, 2024. The performance-based vesting condition was satisfied on July 20, 2023, August 8, 2023 and August 2, 2024, respectively, as certified by the Compensation Committee of the Company's Board of Directors. The Reporting Person exercised the first tranche of the award which became exercisable on March 27, 2024; the second and third tranches of the award that became exercisable on March 27, 2024 and August 2, 2024, respectively, remain outstanding. |
| /s/ Stephanie Delavale, as Attorney-In-Fact for Evan Iverson | 05/12/2025 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||