Form 4: CEO Jabbour Disposes DNB Shares Post-Merger

Dun & Bradstreet CEO Anthony M. Jabbour reported the disposition of all his direct and indirect common stock holdings following the company's merger into a wholly-owned subsidiary.

Summary

• Anthony M. Jabbour, CEO and Director of Dun & Bradstreet Holdings, Inc., reported the disposition of all his beneficial ownership in the company's common stock.
• The transactions occurred on August 26, 2025, pursuant to a merger agreement dated March 23, 2025.
• Under the merger, Dun & Bradstreet became a wholly-owned subsidiary of Denali Intermediate Holdings, Inc. ('Parent').
• Each outstanding share of common stock was cancelled and converted into the right to receive $9.15 in cash per share.
• Vested restricted common stock was converted into the right to receive $9.15 cash per share plus accumulated dividend equivalent rights.
• Unvested restricted common stock was converted into an equity interest of an indirect parent company of Parent with time-based vesting.
• Jabbour disposed of a total of 12,117,763.22 shares across direct and indirect holdings.

Sentiment

Score: 7

Explanation: The filing reports the expected outcome of a merger, where the CEO's shares are converted into cash and new equity. This is a neutral to slightly positive event for the CEO as it provides liquidity and continued equity interest in the new structure, but marks the end of public ownership in DNB.

Positives

• Reporting person received $9.15 per share in cash for common stock and vested restricted stock, providing liquidity.
• Unvested restricted stock was converted into an equity interest in the new parent company, maintaining a future equity stake for the CEO.

Negatives

• Reporting person no longer holds direct or indirect beneficial ownership in Dun & Bradstreet Holdings, Inc. common stock.
• The company's common stock has been delisted/cancelled as it became a wholly-owned subsidiary, removing public trading opportunities.

Future Outlook

There are no forward-looking statements or guidance provided in this filing, as it reports a completed transaction.

Industry Context

This filing reflects the standard process for a public company undergoing a take-private merger. The CEO's holdings are converted according to the merger terms, which is a typical outcome reflecting the change in company ownership structure from public to private.

Stakeholder Impact

• Shareholders: Public shareholders received $9.15 cash per share, losing their equity in DNB.
• Employees (with unvested restricted stock): Their unvested equity converted to an interest in the new parent company, maintaining an incentive structure.

Key Dates

Recommendation

The filing reports the finalization of a merger where Dun & Bradstreet common stock was converted to cash at $9.15 per share. For investors who held DNB shares, the transaction is complete, and they would have received cash. There is no longer publicly traded DNB common stock to buy or sell. The CEO's unvested restricted stock converted to an equity interest in the new parent company, which implies a continued 'hold' on that new, private equity.

Keywords

Dun & Bradstreet, DNB, Anthony M. Jabbour, Merger, SEC Form 4, Beneficial Ownership, Stock Disposition, CEO, Corporate Action, Cash Merger Consideration