Form 4: Altus Power Executive Anthony Savino Reports Share Disposal Following Merger
SEC Form 4 Filing
Anthony Savino, a co-founder and Chief Construction Officer of Altus Power, reports the disposal of shares and derivative securities following the company's merger with Avenger Parent, Inc.
Summary
- On April 16, 2025, Anthony Savino reported changes in beneficial ownership of Altus Power, Inc. securities due to the merger with Avenger Parent, Inc.
- The merger, effective on April 16, 2025, resulted in the conversion of Class A Common Stock into the right to receive $5.00 in cash per share.
- Outstanding restricted stock units were converted into the right to receive cash based on the Merger Consideration.
- Performance stock units (PSUs) subject to share price goals were canceled, while PSUs subject to relative total stockholder return and installed solar capacity goals were converted into the right to receive cash.
- Savino disposed of 4,207,041 shares of Class A Common Stock and 138,400 shares of Class A Common Stock.
- Savino disposed of 139,855 Performance Stock Units and 26,146 Performance Stock Units.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing related to a merger. The sentiment is neutral as it simply reports the facts of the transaction.
Future Outlook
The document does not contain any specific forward-looking statements beyond the completion of the merger.
Industry Context
This announcement reflects a change in ownership structure for Altus Power, a player in the renewable energy sector, due to a merger. Mergers and acquisitions are common in the industry as companies seek to consolidate and expand their market presence.
Stakeholder Impact
- Shareholders received $5.00 per share as part of the merger consideration.
- Employees with restricted stock units and performance stock units received cash payments based on the merger terms.
Key Dates
| Date | Description |
|---|---|
| February 5, 2025 | Date of the Merger Agreement between Altus Power, Avenger Parent, Inc., and Avenger Merger Sub, Inc. |
| April 16, 2025 | Date of the reported transaction and effective time of the merger. |
Keywords
Altus Power, Merger, Beneficial Ownership, Form 4, Avenger Parent, Anthony Savino, Securities, Class A Common Stock, Performance Stock Units, Disposal
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