Form 4: Catalent Director Frank Damelio Reports Share Conversion Following Merger

Director Frank Damelio reports the conversion of his Catalent shares and restricted stock units to cash following the company's merger with Creek Parent, Inc.

Summary

• Frank Damelio, a director at Catalent, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The filing is a result of the merger between Catalent and Creek Parent, Inc., which was completed on December 18, 2024.
• As part of the merger, each outstanding share of Catalent common stock was converted into the right to receive $63.50 in cash.
• Damelio's restricted stock units (RSUs) also vested and were converted into cash based on the merger consideration.
• The merger was executed under an agreement dated February 5, 2024, where Creek Merger Sub, Inc. merged with Catalent, making Catalent a wholly-owned subsidiary of Creek Parent, Inc.

Sentiment

Score: 7

Explanation: The document reflects a neutral event, the completion of a previously announced merger. The sentiment is positive as the merger was completed as expected, but there is no indication of future performance or growth.

Future Outlook

The document does not contain any forward-looking statements or guidance.

Industry Context

This merger represents a significant corporate event for Catalent, resulting in its transition to a wholly-owned subsidiary of Creek Parent, Inc. Such mergers are common in the pharmaceutical and healthcare industries as companies seek to consolidate and expand their operations.

Comparison to Industry Standards

• Mergers and acquisitions are a common strategy in the pharmaceutical and healthcare sectors, with companies like Thermo Fisher Scientific acquiring PPD for $17.4 billion and Danaher acquiring Cytiva for $21.4 billion.
• The $63.50 per share cash consideration is a typical structure for mergers, providing shareholders with a defined exit price.
• The conversion of RSUs to cash is also standard practice in such transactions, ensuring that employees and executives receive the value of their equity compensation.

Stakeholder Impact

• Shareholders received $63.50 per share in cash.
• Employees holding RSUs received cash for their vested units.

Key Dates

Keywords

Merger, Catalent, Creek Parent, Form 4, Beneficial Ownership, Restricted Stock Units, Share Conversion, Director, Frank Damelio