Form 4: Avangrid Director John E. Baldacci Disposes of Shares Following Merger

Director John E. Baldacci disposed of 350 Avangrid shares at $35.75 each following the completion of the merger with Iberdrola, S.A.

Summary

• John E. Baldacci, a director at Avangrid, Inc., disposed of 350 shares of common stock on December 23, 2024.
• The shares were sold at a price of $35.75 per share.
• This transaction occurred as a result of the merger agreement between Avangrid and Iberdrola, S.A., where Avangrid became a wholly-owned subsidiary of Iberdrola.
• The merger consideration was $35.75 per share.

Sentiment

Score: 7

Explanation: The document reflects a standard transaction following a merger, which is neither positive nor negative in itself. The sentiment is neutral to slightly positive as the merger has been completed.

Future Outlook

The document does not contain any forward-looking statements.

Industry Context

This transaction is a direct result of the completion of the merger between Avangrid and Iberdrola, S.A., which is a significant event in the utility sector.

Comparison to Industry Standards

• Mergers and acquisitions are common in the utility sector as companies seek to expand their operations and market share.
• The merger of Avangrid with Iberdrola is similar to other large-scale utility mergers, such as the merger of Duke Energy and Progress Energy, where shareholders received a fixed price per share.
• The $35.75 per share price is the agreed upon merger consideration and is not a reflection of the market price of the shares.

Stakeholder Impact

• Shareholders received $35.75 per share as part of the merger agreement.
• Avangrid is now a wholly-owned subsidiary of Iberdrola, S.A.

Key Dates

Keywords

Merger, Avangrid, Iberdrola, Share Disposal, Director Transaction, Form 4, AGR