Eastman Kodak to transfer ~$1.8B in pension obligations to Metropolitan Tower Life Insurance

EASTMAN KODAK CO

Enters Commitment Agreement with Metropolitan Tower Life to buy group annuity covering ~27,000 KRIP participants; closing expected Oct 21, 2025.
Transaction funded solely by KRIP assets; company expects no cash contributions and full settlement of pension obligations.
Lump-sum payments to deferred vested ($76M settled Oct 1) and active participants (~$157M expected Nov 1, 2025) funded from plan assets.
Remaining missing participant liabilities to be transferred to PBGC in November 2025; surplus assets expected to be distributed to company and Kodak Cash Balance Plan in December 2025.

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