J. KAVANAUGH - 12 Nov 2024 Form 4 Insider Report for INTERNATIONAL BUSINESS MACHINES CORP (IBM)

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	IBM	Phantom Stock Unit	Award	$0	+80	+0.79%	$0.00	10.2K	12 Nov 2024	Common Stock	80	$0.00	Direct	F1, F2, F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Id	Content
F1	Phantom stock units convert to the cash value of the company's common stock on a one-for-one basis.
F2	Acquisition of phantom stock units under the IBM Excess Savings Plan.
F3	Distribution of phantom stock units under the IBM Excess Savings Plan is deferred until separation from the company. The reporting person may transfer these phantom stock units into an alternative investment account under such plan.