Form 4: Amcor Executive Acquires Shares and Options Following Merger with Berry Global Group

Jean-Marc Galvez, a Division President at Amcor, received ordinary shares, restricted stock units (RSUs), and options in exchange for his Berry Global Group holdings following the merger of the two companies.

Summary

• Jean-Marc Galvez, a Division President at Amcor, filed a Form 4 detailing changes in his beneficial ownership of Amcor securities.
• The filing reflects transactions occurring on April 30, 2025, related to the merger of Berry Global Group Inc. with Amcor plc.
• Galvez received 1,050,573 ordinary shares of Amcor in exchange for vested and soon-to-vest Berry Options.
• He also received 131,435 Amcor RSUs in exchange for unvested Berry RSUs, vesting in three equal installments in November 2025, 2026, and 2027.
• Additionally, Galvez received 406,362 Amcor RSUs for unvested Berry PSUs, vesting in October 2025 and 2026.
• Galvez acquired 60,486 Amcor Options in exchange for unvested Berry Options, vesting in November 2025, with an exercise price of $7.24.
• He also received 96,978 Amcor Options for unvested Berry Options, vesting in two equal installments in November 2026 and 2027, with an exercise price of $8.18.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation adjustment following a merger, indicating stability and integration. The sentiment is neutral to positive as it reflects the expected course of events.

Positives

• The acquisition of shares and options reflects Galvez's continued involvement with Amcor following the merger.
• The vesting schedules of the RSUs and options incentivize long-term service with Amcor.

Risks

• The value of the acquired shares and options is subject to the performance of Amcor's stock.
• The vesting of RSUs and options is contingent upon Galvez's continued service with Amcor.

Future Outlook

The vesting of RSUs and options is contingent upon the Reporting Person's continued service with Amcor.

Industry Context

The merger between Amcor and Berry Global Group is a significant event in the packaging industry, consolidating two major players and potentially leading to increased efficiency and market share.

Comparison to Industry Standards

• Executive compensation packages including stock options and RSUs are common in publicly traded companies like Amcor to align management interests with shareholder value.
• Vesting schedules are typical to ensure executive retention and commitment to long-term company performance.
• The specific terms of the equity exchange are unique to the merger agreement between Amcor and Berry Global Group.

Stakeholder Impact

• Shareholders may view the executive's increased stake in the company positively, aligning management's interests with theirs.
• Employees may see this as a sign of stability and commitment from leadership following the merger.

Key Dates

Keywords

Amcor, Berry Global Group, Merger, Form 4, Jean-Marc Galvez, Ordinary Shares, Restricted Stock Units, Options, Beneficial Ownership, Securities