Form 4: Altus Power Director Richard A. Shapiro Reports Disposal of Shares Following Merger

Director Richard A. Shapiro reports the disposal of 48,357 shares of Altus Power, Inc. Class A Common Stock due to the merger with Avenger Parent, Inc.

Summary

• Richard A. Shapiro, a director of Altus Power, Inc., filed a Form 4 indicating changes in beneficial ownership.
• The report details the disposal of 48,357 shares of Class A Common Stock on April 16, 2025, due to a merger.
• Altus Power, Inc. merged with Avenger Merger Sub, Inc., a subsidiary of Avenger Parent, Inc., on February 5, 2025.
• As a result of the merger, each share of Class A Common Stock was converted into the right to receive $5.00 in cash.
• Outstanding restricted stock units were also converted into the right to receive cash based on the number of underlying shares and the merger consideration.

Sentiment

Score: 5

Explanation: Neutral sentiment as the document primarily reports a transaction resulting from a merger agreement. It doesn't convey positive or negative implications beyond the factual details of the transaction.

Industry Context

Mergers and acquisitions are common in the power and energy sector as companies seek to consolidate resources, expand market share, or diversify their offerings. This transaction reflects a strategic move by Altus Power and Avenger Parent.

Stakeholder Impact

• Shareholders received $5.00 in cash for each share of Class A Common Stock.
• Holders of restricted stock units received cash based on the number of underlying shares and the merger consideration.

Key Dates

Keywords

Form 4, Beneficial Ownership, Merger, Altus Power, AMPS, Avenger Parent, Richard A. Shapiro, Director