Form 4: Diamond Hill Investment Group Acquired by First Eagle

Jo Ann Quinif, President of DHCM, reports the disposal of all common stock holdings following the acquisition of Diamond Hill Investment Group by First Eagle Investment Management.

Summary

• Diamond Hill Investment Group, Inc. (DHIL) was acquired by First Eagle Investment Management, LLC on April 22, 2026.
• Under the terms of the merger agreement, all outstanding shares of common stock were canceled and converted into the right to receive $175.00 per share in cash.
• Reporting person Jo Ann Quinif disposed of 45,111 shares held directly and 816 shares held indirectly via 401K.
• All restricted stock units held under various equity incentive plans were also converted into the $175.00 per share cash consideration.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral administrative filing confirming the finalization of a previously announced acquisition.

Positives

• Shareholders received a definitive cash exit price of $175.00 per share upon the consummation of the merger.

Negatives

• The company has ceased to be an independent publicly traded entity following the acquisition.

Risks

• No ongoing risks as the company has been acquired and delisted.

Future Outlook

The company has been acquired and is no longer an independent public entity; therefore, no future guidance is provided.

Management Comments

• The transaction was executed pursuant to the Agreement and Plan of Merger dated December 10, 2025.

Industry Context

StockSavvy.ai notes that this acquisition represents continued consolidation within the asset management sector, as larger firms like First Eagle seek to scale through the acquisition of specialized investment managers like Diamond Hill.

Comparison to Industry Standards

• The $175.00 cash-out price represents the final valuation for shareholders, consistent with standard private equity or strategic acquisition exit mechanics in the financial services sector.

Legal Proceedings

• The transaction was completed under the terms of the Merger Agreement dated December 10, 2025.

Stakeholder Impact

• Shareholders have been cashed out at $175.00 per share.
• Employees and management are subject to the integration plans of the acquirer, First Eagle Investment Management.

Next Steps

• Final delisting of DHIL common stock from public exchanges.

Key Dates

Keywords

Diamond Hill Investment Group, DHIL, First Eagle Investment Management, Merger, Acquisition, Form 4, Insider Transaction