Form 4: Brookfield Business Corp Director Reports Share Exchange

Donald William Mackenzie, a Director and 10% owner, reported the exchange of BBU Units and BBHC Exchangeable Shares for Class A subordinated voting shares of the new Corporation as part of a corporate arrangement.

Summary

• Donald William Mackenzie, a Director and 10% owner of Brookfield Business Corp (BBU), reported changes in beneficial ownership.
• On March 27, 2026, Mackenzie disposed of 13,430 Non-Voting Limited Partnership Units of BBU.
• On the same date, Mackenzie also disposed of 6,715 Class A Exchangeable Subordinate Voting Shares of Brookfield Business Holdings Corporation (BBHC).
• These transactions were part of a court-approved plan of arrangement dated November 6, 2025.
• Under the arrangement, holders of BBU Units and BBHC Exchangeable Shares received Class A subordinated voting shares of the new Brookfield Business Corporation on a one-for-one basis.
• Following the arrangement, BBU and BBHC became subsidiaries of the new Brookfield Business Corporation.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive event, reflecting the successful execution of a planned corporate restructuring which can often lead to improved operational clarity and governance.

Positives

• Successful completion of a pre-announced corporate arrangement, streamlining the corporate structure.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that corporate reorganizations and simplifications of ownership structures are common strategies for large, complex entities like Brookfield affiliates to enhance operational efficiency, improve transparency, or optimize for specific market conditions. This particular arrangement consolidates BBU and BBHC under a new corporate entity.

Corporate Governance

Related Party Transactions

• The arrangement involved Brookfield Business Partners L.P., Brookfield Business Holdings Corporation, and Brookfield Business Corporation, all related entities within the broader Brookfield group.

Stakeholder Impact

• Shareholders: Holders of BBU Units and BBHC Exchangeable Shares received Class A subordinated voting shares of the new Corporation on a one-for-one basis, maintaining their economic interest in the consolidated entity.

Key Dates

Recommendation

This Form 4 reports the completion of a pre-announced corporate arrangement, which is a structural change rather than an operational or financial performance update. As such, it does not provide new information that would warrant a change in investment thesis, suggesting a 'hold' position for existing investors.

Keywords

Brookfield Business Corp, BBU, Form 4, Insider Transaction, Beneficial Ownership, Corporate Arrangement, Share Exchange, Donald William Mackenzie, Brookfield Business Partners, Brookfield Business Holdings