Company: KODK
Filing Date: 2025-10-16
Form Type: 8-K
Source: 0001193125-25-241430
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Company: EASTMAN KODAK CO
Filing Date: 2025-10-16
Form: 8-K
Item: Item 1.01
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Item 1.01 Entry into a Material Definitive Agreement

On January 21, 2025, the Board of Directors of Eastman Kodak Company (the “ Company”) approved the termination of the Kodak Retirement Income Plan (“ KRIP”), effective March 31, 2025, and no further benefits were accrued under KRIP following this date.

On October 14, 2025, the Company and State Street Global Advisors Trust Company, as independent fiduciary of KRIP, entered into a Commitment Agreement (the “ Agreement”) with Metropolitan Tower Life Insurance Company (the “ Insurer”) under which the Company will purchase a nonparticipating single premium group annuity contract (the “ Annuity Contract”) from the Insurer to facilitate the transfer to the Insurer of approximately $1.8 billion of pension obligations. The Annuity Contract will be funded directly by the assets of KRIP, and the Company does not expect to make any cash contributions related to this transaction.

The Agreement contains closing conditions customary for a transaction of this nature. Assuming all closing conditions are satisfied, the transaction is expected to close on October 21, 2025 (the “ Closing Date”) and will cover approximately 27,000 KRIP participants and beneficiaries (the “ Transferred Participants”). Subject to certain conditions set forth in the Agreement, the Insurer will assume the obligation for retirement benefits of each Transferred Participant upon the Closing Date and all Transferred Participants will continue to receive their benefit payments from the current trustee until early 2026, at which time the Insurer will assume full responsibility for administrative and customer service support, including distribution of payments to the Transferred Participants.

Item 8.01 Other Events