Form 4: Aspen Technology Director Antkowiak Reports Disposal of Shares and Restricted Stock Units Following Merger with Emerson Electric Co.

Patrick M. Antkowiak, a director of Aspen Technology, reports the disposal of common stock and restricted stock units due to the merger with Emerson Electric Co., where shares were converted to cash at $265.00 per share.

Summary

• This Form 4 filing reports changes in beneficial ownership for Patrick M. Antkowiak, a director of Aspen Technology, Inc.
• The report details the disposal of common stock and restricted stock units (RSUs) following the merger between Aspen Technology and Emerson Electric Co.
• The merger, effective March 12, 2025, involved Emerson Electric Co.'s subsidiary, Emersub CXV, Inc., acquiring Aspen Technology.
• As a result of the merger, each outstanding share of Aspen Technology common stock was converted into the right to receive $265.00 in cash.
• The director disposed of 3,209 shares of common stock and 1,251 restricted stock units.
• The RSUs held by non-employee directors were converted into the right to receive a cash payment equal to the Merger Consideration ($265.00) multiplied by the number of shares subject to the RSU.

Sentiment

Score: 5

Explanation: Neutral sentiment as the document simply reports the completion of a merger and the resulting disposal of shares, without expressing any positive or negative views.

Future Outlook

The merger between Aspen Technology and Emerson Electric Co. is complete, and Aspen Technology is no longer a standalone publicly traded company.

Industry Context

This announcement reflects a trend of consolidation in the technology sector, where larger companies acquire smaller, specialized firms to expand their capabilities and market reach.

Comparison to Industry Standards

• The merger consideration of $265.00 per share can be compared to other recent acquisitions in the technology sector to assess its fairness.
• Comparable transactions might include acquisitions of similar software companies with comparable revenue multiples or growth rates.
• For example, if a similar company was acquired at 10x revenue, the $265.00 per share can be compared to Aspen Technology's revenue per share to see if it is in line with industry standards.

Stakeholder Impact

• Shareholders received $265.00 per share as a result of the merger.
• Employees' roles and responsibilities may change as a result of the integration with Emerson Electric Co.

Key Dates