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Form 4 insider activity summary

Verizon Communications (VZ) Executive Vice President & CFO Anthony T. Skiadas reported the acquisition of 139.163 phantom stock units on 02 July 2025 through the company鈥檚 deferred compensation plan at a reference price of $12.44 per unit. Phantom stock is cash-settled and represents the economic value鈥攏ot actual ownership鈥攐f Verizon common shares; the transaction therefore involves no open-market purchase or sale of stock. After the credit, Skiadas indirectly holds 125,343.598 phantom units (by Deferred Compensation Plan), equal to the value of roughly 40 Verizon shares. The filing appears to be a routine deferral of compensation rather than a directional investment signal, and it does not alter his direct common-stock ownership.

UBS AG is offering $6.25 million of three-year Buffer Autocallable Contingent Yield Notes with Memory Interest linked to the least-performing of EOG Resources (EOG), Occidental Petroleum (OXY) and Schlumberger (SLB).

Key economic terms

• Principal: $1,000 per note
• Contingent coupon: 12.35% p.a. (paid quarterly) if all three shares close 鈮� 75% of their initial level on an observation date; missed coupons accrue via a 鈥渕emory鈥� feature.
• Automatic call: quarterly (starting after 12 months) if each share closes 鈮� 100% of its initial level; investor receives principal plus accrued coupons.
• Downside protection: 25% buffer; if, at maturity, any share is < 75% of its initial level, principal is reduced 1-for-1 beyond the buffer.
• Issue price vs. estimated value: $1,000 vs. $980.60, reflecting dealer discount ($6) and hedging/issuance costs.
• Issuer/credit risk: unsubordinated, unsecured debt of UBS AG London Branch; subject to Swiss bail-in regime.

Risk highlights

• Investors may receive no coupons and can lose up to almost all principal if one equity underperforms.
• 100% call threshold makes early redemption unlikely in sideways/down markets; reinvestment risk if called.
• Notes are unlisted, with uncertain secondary liquidity and bid-offer spreads that may embed further costs.
• Concentration in energy sector exposes holders to commodity price volatility and correlated downside moves.

The notes are designed for investors comfortable with equity downside risk in exchange for a high, conditional coupon, a 25% buffer and potential early return of capital, and who are willing to rely on UBS鈥檚 creditworthiness.

SIMPPLE LTD. (SPPL) has filed a Form 6-K reporting that on 30 June 2025 it entered into Securities Purchase Agreements with ten investors for a private placement of 1,333,334 ordinary shares, generating gross proceeds of US$2,000,001 before expenses. The transaction closed the same day. The agreements contain customary representations, warranties and indemnification provisions, and a form of the agreement is included as Exhibit 99.1.

The capital raise provides additional liquidity but will increase the company鈥檚 outstanding share count, resulting in immediate dilution for existing shareholders. The filing does not specify the intended use of proceeds or any pricing premium/discount relative to the market.

Verizon Communications Inc. (VZ) 鈥� Form 4 insider transaction

EVP & Group CEO鈥揤Z Business Kyle Malady reported a single transaction dated 07/02/2025 involving 139.163 phantom stock units credited to his deferred-compensation account. Each unit represents the economic value of a portion of one Verizon common share and is settled in cash, not stock. Following the credit, his indirect holding in the plan totals 382,027.306 phantom stock units. The derivative units were acquired at a reference price of $12.44 per unit and include amounts received through dividend reinvestment. No open-market purchase, sale, or change in direct common-stock ownership was reported.

The transaction is filed as indirect ownership under the company鈥檚 deferred compensation plan and appears to be routine, reflecting ongoing accrual rather than a strategic purchase or sale.

HSBC Holdings plc filed a Form 6-K disclosing daily activity under the US$3 bn share-buyback programme launched on 6 May 2025.

• 7 July 2025 repurchases
  • UK venues: 129,012 ordinary shares at a volume-weighted average price of 拢8.9279 (high 拢8.94; low 拢8.899).
  • Hong Kong Stock Exchange: 1,760,800 ordinary shares at a VWAP of HK$95.3169 (high HK$95.50; low HK$95.00).
• Programme-to-date: 201,203,677 shares bought back for 鈮圲S$2.35 bn since 6 May 2025.
• Capital impact: After cancelling the UK-venue shares, issued share capital falls to 17,456,019,260 voting shares; no treasury shares remain. Cancellation of Hong Kong purchases is pending.
• The updated share count is the reference denominator for FCA鈥檚 Disclosure Guidance and Transparency Rules.
• Detailed trade data executed by Morgan Stanley is available via the linked RNS PDF.

The disclosure signals continued execution of HSBC鈥檚 buy-back, supporting capital return and EPS accretion, with no changes to guidance or strategy noted.

JPMorgan Chase Financial Company LLC is offering $481,000 in Uncapped Buffered Return Enhanced Notes linked to the S&P 500庐 Futures Excess Return Index (SPXFP). The notes priced on 2 July 2025, settle on or about 8 July 2025, and mature on 6 January 2028 (3-year, 6-month tenor). They are unsecured, unsubordinated obligations of JPMorgan Chase Financial and are fully and unconditionally guaranteed by JPMorgan Chase & Co.

Pay-off profile

• Upside Leverage: 1.23脳 positive Index Return, with no cap.
• Buffer: First 20 % decline in the Index is absorbed; beyond the buffer, investors lose point-for-point down to a maximum loss of 80 %.
• No coupons or interim payments.

Key economics

• Issue price: $1,000 per note.
• Estimated value at pricing: $977.70 (reflects dealer margin and hedging costs).
• Selling commission: $9.50 per note (0.95 %).
• Issuer proceeds: $990.50 per note.
• CUSIP: 48136FDA7.
• Initial Index level: 516.24.

Risk highlights

• Principal is not protected; a 鈮�40 % fall in the Index cuts principal dollar-for-dollar beyond the 20 % buffer (e.g., 鈥�50 % Index 鈫� $700 repayment).
• Credit exposure to both the issuer (a finance subsidiary with limited assets) and guarantor.
• Liquidity risk: no exchange listing; secondary market, if any, will be made only by JPMS and likely below issue price.
• Estimated value below offer price indicates upfront costs embedded in the structure.
• Potential conflicts of interest as JPMorgan entities act as issuer, guarantor, calculation agent and hedging counterparty.

Tax treatment: Counsel believes the notes may be treated as 鈥渙pen transactions,鈥� but the IRS could challenge this view; investors should consult advisers.

Who might consider the notes? Investors with a moderately bullish 2陆-year view on U.S. equities who can tolerate significant downside, are comfortable with issuer credit risk, and value leveraged uncapped upside combined with a 20 % buffer.

Form 4 filing for Verizon Communications Inc. (VZ) 鈥� 7 July 2025

Senior Vice-President & Controller Mary-Lee Stillwell reported one transaction dated 2 July 2025. The filing discloses the acquisition (Code "A") of 46.387 phantom-stock units under Verizon鈥檚 deferred-compensation plan. Each phantom-stock unit represents the economic value of a portion of one Verizon common share and is settled in cash, not stock, upon events chosen by the executive. The units were booked at an indicated reference price of $12.44.

Following the transaction, Stillwell鈥檚 indirect beneficial interest in the plan totals 12,044.045 phantom-stock units. Ownership is recorded as Indirect (I) 鈥� By Deferred Compensation Plan; no direct share ownership changes were reported and Table I (non-derivative securities) shows no activity.

The filing is routine in nature, reflects a modest increase in deferred-compensation balances, and does not involve open-market purchases or sales of Verizon common stock.

Verizon Communications has filed an amended 8-K (Form 8-K/A) to update information regarding a new board appointment. The filing amends a previous report concerning Caroline A. Litchfield's election to the Board of Directors, which was effective October 1, 2024.

Key updates in this amendment:

• On June 26, 2025, the Board appointed Ms. Litchfield to serve on two committees:
  • Audit Committee
  • Corporate Governance and Policy Committee

The filing also includes a comprehensive list of Verizon's registered securities, including common stock traded on both the NYSE and Nasdaq, along with multiple series of notes with varying interest rates (ranging from 0.375% to 4.750%) and maturity dates (2026-2041). The amendment was signed by William L. Horton, Jr., Senior Vice President, Deputy General Counsel and Corporate Secretary.

Verizon Communications Inc. (NYSE/Nasdaq: VZ) filed a Form 8-K on June 23, 2025 to report an Item 8.01 鈥淥ther Events.鈥� The sole disclosure is the inclusion of Exhibit 99.1, a press release dated June 23, 2025, the contents of which are not provided in the filing. No financial results, transaction details, or strategic updates are contained within the report. The document also restates the company鈥檚 common-stock listings on the NYSE and Nasdaq and enumerates more than 30 series of outstanding debt securities registered on the NYSE, ranging in maturity from 2026 to 2041. The company confirms it is not an emerging-growth company and lists the Inline XBRL cover-page data file (Exhibit 104). Other than the press-release reference, no material new information is disclosed.