Eastman Kodak director cuts stake to 4.4% due to 3M share donation

Independent Director George Karfunkel disclosed a 4.4% stake in Eastman Kodak, which represents 3.32M shares. The stake is down from the 15.5%, or 6.7M shares, disclosed on December 6, 2019. The reduced stake is the result of a donation of 3M shares of Eastman Kodak to Congregation Chemdas Yisroel on July 29, 2020, Karfunkel said in a regulatory filing. The Securities and Exchange Commission is investigating the circumstances around recent Eastman Kodak’s announcement of a $765M government loan to make drugs at its U.S. factories, Dave Michaels and Theo Francis of Wall Street Journal reported earlier.