Form 4: Berry Global Group Director Peter T. Thomas Reports Share Disposals and Derivative Conversions Following Amcor Acquisition

Director Peter T. Thomas reports the disposal of Berry Global Group shares and conversion of derivative securities following the acquisition by Amcor plc on April 30, 2025.

Summary

• Peter T. Thomas, a director of Berry Global Group, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The report is triggered by the acquisition of Berry Global Group by Amcor plc, which was completed on April 30, 2025.
• As a result of the merger, Thomas disposed of 5,925 shares of Berry Global Group common stock.
• Each share was converted into the right to receive 7.25 Amcor ordinary shares plus cash in lieu of fractional shares.
• Thomas also disposed of 2,092 restricted stock units (RSUs) and 6,178 stock options, which were converted into Amcor RSUs and stock options, respectively, or the right to receive Amcor ordinary shares and/or cash.
• The conversions of RSUs and stock options are subject to specific formulas based on the merger agreement and the value of Amcor ordinary shares.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing related to a completed acquisition. It doesn't convey strong positive or negative sentiment, but rather reports factual information about the transaction's impact on the reporting person's holdings.

Future Outlook

The document does not contain specific forward-looking statements beyond the completion of the acquisition.

Industry Context

This announcement reflects the completion of a significant acquisition in the packaging industry, with Amcor plc acquiring Berry Global Group. This type of consolidation can lead to increased market share and synergies for the acquiring company.

Comparison to Industry Standards

• Mergers and acquisitions are common in the packaging industry, with companies like Amcor and Berry Global Group seeking to expand their market presence and product offerings.
• The conversion of stock options and RSUs into acquirer's equity is a standard practice in M&A transactions to align the interests of the target company's employees and executives with the acquiring company.
• The exchange ratio of 7.25 Amcor shares per Berry share is a key metric for evaluating the fairness of the deal, which would be compared to other similar transactions in the industry.

Stakeholder Impact

• Shareholders of Berry Global Group received Amcor shares as part of the acquisition.
• Employees with stock options and RSUs had their awards converted into Amcor equivalents, impacting their future compensation.
• The acquisition could lead to changes in the company's operations and strategy, potentially affecting customers and suppliers.

Key Dates

Keywords

Form 4, Beneficial Ownership, Amcor, Merger, Berry Global Group, Director, Thomas, Acquisition