Form 4: Catalent Director Stephanie Okey Reports Share Disposition Following Merger
SEC Form 4 Filing
Director Stephanie Okey reports the disposition of Catalent shares and restricted stock units following the company's merger with Creek Parent, Inc.
Summary
- Stephanie Okey, a director at Catalent, Inc., filed a Form 4 indicating changes in her beneficial ownership of the company's securities.
- The changes occurred due to the merger of Catalent with Creek Parent, Inc. on December 18, 2024.
- As a result of the merger, each outstanding share of Catalent common stock was converted into the right to receive $63.50 in cash.
- Okey's restricted stock units (RSUs) also vested and were converted into cash, with some exceptions for RSUs granted after the merger agreement date.
- The merger resulted in the disposition of 12,635 common stock shares and the cancellation of RSUs.
Sentiment
Score: 7
Explanation: The document is a routine filing following a merger, indicating a neutral event with a positive outcome for shareholders who received cash for their shares. The sentiment is therefore moderately positive.
Industry Context
This filing reflects a standard procedure following a merger, where the company's shares are converted into cash or other consideration, and insiders report their changes in ownership.
Comparison to Industry Standards
- Mergers and acquisitions in the pharmaceutical and healthcare sectors often involve similar cash-out transactions for shareholders.
- The conversion of stock and RSUs to cash is a typical outcome in such mergers, aligning with industry norms for shareholder compensation during acquisitions.
- Comparable transactions include the acquisition of other pharmaceutical contract development and manufacturing organizations (CDMOs) where shareholders receive a cash payment for their shares.
Stakeholder Impact
- Shareholders received $63.50 per share in cash as a result of the merger.
- Employees holding RSUs received cash for their vested units, with some exceptions.
Key Dates
| Date | Description |
|---|---|
| February 5, 2024 | Date of the Merger Agreement between Catalent, Creek Parent, Inc., and Creek Merger Sub, Inc. |
| December 18, 2024 | Date of the merger between Catalent and Creek Parent, Inc., and the date of the reported transactions. |
Keywords
Merger, Catalent, Form 4, Beneficial Ownership, Stephanie Okey, Creek Parent, Restricted Stock Units, RSUs, Share Disposition
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