Form 4: Aspen Technology SVP David John Baker Reports Changes in Beneficial Ownership Following Merger with Emerson Electric Co.
SEC Form 4 Filing
David John Baker, SVP and CFO of Aspen Technology, reports the disposal of common stock and conversion of restricted stock units following the merger with Emerson Electric Co.
Summary
- David John Baker, SVP and CFO of Aspen Technology, filed a Form 4 detailing changes in beneficial ownership.
- The filing reports the disposal of 2,942 shares of common stock on March 11, 2025, due to a cash tender offer by Emerson Electric Co.
- Additionally, 8,648 restricted stock units (RSUs) were converted into RSUs of Emerson Electric Co. following the merger, effective March 12, 2025.
- The merger consideration was $265.00 in cash per share.
- The conversion of Aspen Technology RSUs to Emerson Electric RSUs was based on an Equity Award Exchange Ratio defined in the merger agreement.
Sentiment
Score: 7
Explanation: The document is a routine regulatory filing related to a completed merger. The sentiment is neutral to slightly positive as the merger has been successfully executed.
Future Outlook
The document does not contain any specific forward-looking statements beyond the completion of the merger.
Industry Context
This announcement reflects the completion of a merger transaction, a common occurrence in the technology industry as companies seek to consolidate resources, expand market reach, or acquire new technologies. Emerson Electric Co.'s acquisition of Aspen Technology aligns with this trend.
Comparison to Industry Standards
- Mergers and acquisitions are a common strategy in the technology sector.
- Comparable transactions include the acquisition of Red Hat by IBM and the acquisition of VMware by Broadcom.
- The valuation and deal structure are typical for acquisitions of publicly traded companies.
Stakeholder Impact
- Shareholders received $265.00 per share as part of the merger consideration.
- Employees of Aspen Technology may experience changes as a result of the merger with Emerson Electric Co.
Key Dates
| Date | Description |
|---|---|
| January 26, 2025 | Date of the Agreement and Plan of Merger between Aspen Technology, Emerson Electric Co., and Emersub CXV, Inc. |
| March 11, 2025 | Date of disposal of common stock. |
| March 12, 2025 | Effective date of the merger, conversion of RSUs. |
| March 13, 2025 | Date of signature on the Form 4 filing. |
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