Form 4: APi Group Director Ian Ashken Converts Restricted Stock Units to Common Shares

APi Group Corp. Director Ian G.H. Ashken reported the settlement of 3,810 restricted stock units into common stock, increasing his direct beneficial ownership.

Summary

• Ian G.H. Ashken, a Director of APi Group Corp. (APG), reported a transaction on June 14, 2025.
• 3,810 restricted stock units (RSUs) held by Mr. Ashken were settled for an equal number of shares of APi Group's Common Stock.
• This transaction resulted in Mr. Ashken directly acquiring 3,810 shares of Common Stock at a price of $0, as it was a settlement of previously granted RSUs.
• Following this transaction, Mr. Ashken directly owns 3,810 shares of Common Stock.
• His indirect beneficial ownership includes 3,389 shares of Common Stock and 768,000 shares of Series A Preferred Stock held by Mariposa Acquisition IV, LLC.
• Additionally, he indirectly beneficially owns 5,612,102 shares of Common Stock through IGHA Holdings, LLLP, and 32,010 shares through The Ian G.H. Ashken Living Trust.
• An additional 200,000 shares are held jointly in an account by The Ashken Trust and The Nancy K. Ashken Living Trust.
• Mr. Ashken disclaims beneficial ownership of shares held indirectly except to the extent of his pecuniary interest therein.
• Another 3,160 restricted stock units are set to vest on May 16, 2026, subject to his continuous service.

Sentiment

Score: 5

Explanation: The sentiment is neutral as this is a routine, expected vesting and settlement of restricted stock units, not a discretionary purchase or sale that would indicate a change in management's outlook or a significant strategic shift.

Positives

• The settlement of restricted stock units into common stock indicates a vesting event, which is a positive for the director as it converts contingent rights into actual equity.
• The director's direct beneficial ownership of common stock increased by 3,810 shares as a result of the RSU settlement.

Future Outlook

The document indicates that an additional 3,160 restricted stock units are scheduled to vest on May 16, 2026, contingent upon the reporting person's continuous service with the Issuer. The Series A Preferred Stock held indirectly is convertible into Common Stock on a one-for-one basis at the holder's election, and will automatically convert on the last day of the seventh full financial year following October 1, 2019.

Industry Context

This Form 4 filing represents a routine insider transaction, specifically the vesting and settlement of restricted stock units for a director. Such transactions are common in publicly traded companies as part of executive and director compensation packages, aligning their interests with shareholders. It does not reflect a discretionary purchase or sale, but rather the fulfillment of a pre-existing compensation agreement.

Related Party Transactions

• The document details indirect beneficial ownership through entities like Mariposa Acquisition IV, LLC, IGHA Holdings, LLLP, and The Ian G.H. Ashken Living Trust, where Mr. Ashken holds various interests (e.g., trustee, beneficiary, limited liability company interest).
• Shares are also held jointly in an account by The Ashken Trust and The Nancy K. Ashken Living Trust.

Stakeholder Impact

• Shareholders: The transaction increases the director's direct equity stake, potentially aligning his interests more closely with shareholders. However, the number of shares is relatively small compared to the total outstanding, so the direct impact on share price or dilution is minimal.
• Employees: The transaction is part of a standard compensation structure, which is common for executives and directors, and does not directly impact the broader employee base.

Next Steps

• The remaining 3,160 restricted stock units held by the reporting person are expected to vest on May 16, 2026, subject to continuous service.
• The Series A Preferred Stock held indirectly is convertible into Common Stock at the holder's election and will automatically convert on the last day of the seventh full financial year following October 1, 2019.

Key Dates

Keywords

APi Group Corp, APG, SEC Form 4, Insider Transaction, Restricted Stock Units, RSU Settlement, Common Stock, Beneficial Ownership, Director, Ian G.H. Ashken