Form 4: Hanesbrands Director Converts Equity to Gildan Shares Post-Merger

Hanesbrands Director Mark A. Irvin converted all his Hanesbrands equity awards into Gildan restricted stock units following the merger agreement.

Summary

• Mark A. Irvin, a Director of Hanesbrands Inc., reported changes in his beneficial ownership of Hanesbrands securities.
• On December 1, 2025, Irvin disposed of 18,630 shares of Hanesbrands Common Stock.
• Additionally, 58,492 units of Hanesbrands Phantom Stock were disposed of on the same date.
• Following these transactions, Irvin beneficially owns 0 shares of Hanesbrands Common Stock and 0 units of Hanesbrands Phantom Stock.
• These dispositions are a direct result of the Agreement and Plan of Merger, dated August 13, 2025, between Hanesbrands Inc. and Gildan Activewear Inc.
• Under the merger agreement, all outstanding Hanesbrands Restricted Stock Units (RSUs), Deferred Hanesbrands RSUs, and Stock Equivalent Hanesbrands RSUs were converted into Gildan Restricted Stock Units (RSUs).
• The conversion utilized an 'Equity Award Exchange Ratio' calculated as the sum of 0.102 and the quotient of $0.80 divided by the average of the volume-weighted average trading prices of Gildan Common Shares over the 20 consecutive trading days ending two trading days prior to the merger's closing date.

Sentiment

Score: 5

Explanation: Neutral, as this filing reports a mandatory transaction resulting from a merger, not a discretionary action or performance update.

Future Outlook

This filing reports a completed equity conversion transaction as a result of a merger agreement and does not contain forward-looking statements or guidance.

Industry Context

The conversion of Hanesbrands equity into Gildan equity signifies the completion of a significant merger between two major players in the apparel and activewear industry, indicating ongoing consolidation and strategic realignments within the sector.

Stakeholder Impact

• Shareholders of Hanesbrands Inc. holding restricted stock units, deferred restricted stock units, or stock equivalent units had their equity converted into Gildan Activewear Inc. restricted stock units as part of the merger.

Key Dates

Keywords

Hanesbrands, HBI, Gildan Activewear, Merger, Equity Conversion, Restricted Stock Units, Insider Transaction, Form 4, Director