Form 4: Berry Global Group CEO Kevin Kwilinski Disposes of Shares and Options Following Amcor Merger

Following the completion of Berry Global Group's acquisition by Amcor plc on April 30, 2025, CEO Kevin J. Kwilinski reported the disposal of shares, restricted stock units, and employee stock options as part of the merger agreement.

Summary

• On April 30, 2025, Berry Global Group was acquired by Amcor plc.
• As a result of the merger, Kevin J. Kwilinski, CEO of Berry Global Group, disposed of 37,004 shares of common stock.
• He also disposed of 217,378 restricted stock units (RSUs) and 110,779 employee stock options.
• The disposals were a consequence of the terms outlined in the merger agreement dated November 19, 2024.
• Each share of Berry Global common stock was converted into the right to receive 7.25 Amcor ordinary shares plus cash in lieu of fractional shares.
• Vested RSUs were cancelled and converted into the right to receive Amcor ordinary shares and a cash amount equal to dividend equivalent rights (DERs).
• Unvested RSUs were converted into Amcor RSUs and restricted cash.
• Vested stock options and unvested stock options that would have vested within 12 months were cancelled and converted into the right to receive Amcor ordinary shares and cash for DERs.
• Unvested options were assumed by Amcor and converted into Amcor stock options.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing related to a merger. It's neutral in tone and simply reports the facts of the transaction. The sentiment is moderately positive as the merger has been completed.

Future Outlook

The document primarily reports on the completion of the merger and the resulting transactions, with no specific forward-looking statements about the combined entity's future performance.

Industry Context

This announcement reflects the trend of consolidation within the packaging industry, with larger players like Amcor acquiring companies like Berry Global to expand their market share and capabilities.

Comparison to Industry Standards

• Amcor's acquisition of Berry Global is similar to other large-scale mergers in the packaging industry, such as Ball Corporation's acquisition of Rexam, which aimed to create a global leader in metal packaging.
• The conversion of stock options and restricted stock units into equivalent securities of the acquiring company is a standard practice in mergers and acquisitions to ensure fair treatment of employees and executives.
• The 7.25 share conversion ratio can be compared to other merger deals to assess the premium offered to Berry Global shareholders.

Stakeholder Impact

• Shareholders of Berry Global received Amcor shares and cash as a result of the merger.
• Employees of Berry Global had their stock options and restricted stock units converted into Amcor equivalents.
• The merger could impact suppliers and customers of both Berry Global and Amcor due to potential changes in operations and product offerings.

Key Dates

Keywords

Merger, Acquisition, Amcor, Berry Global Group, SEC Form 4, Kwilinski, Stock Options, Restricted Stock Units, Share Disposal, Insider Trading