Form 4: Hanesbrands Executive Disposes Shares in Gildan Merger
Insider Transaction Report (Merger Related)
Hanesbrands Inc. EVP Scott A. Pleiman disposed of all common stock and converted restricted stock units as part of the merger with Gildan Activewear Inc.
Summary
- Scott A. Pleiman, EVP, Chief Strategy, Transformation, Analytics & Technology Officer of Hanesbrands Inc., reported changes in beneficial ownership.
- On December 1, 2025, Pleiman disposed of 43,339 shares of Hanesbrands Common Stock.
- Following this transaction, he beneficially owned 287,294 shares, which were subsequently disposed of on the same date.
- After these transactions, Pleiman beneficially owns 0 shares of Hanesbrands Common Stock.
- These disposals were executed pursuant to the Agreement and Plan of Merger, dated August 13, 2025, between Hanesbrands Inc. and Gildan Activewear Inc.
- Each share of Hanesbrands common stock was converted into the right to receive 0.102 common shares of Gildan and $0.80 in cash, without interest.
- Outstanding restricted stock units (RSUs) of Hanesbrands were converted into Gildan restricted stock units based on an Equity Award Exchange Ratio.
Sentiment
Score: 5
Explanation: Neutral, as this is a mandatory reporting of a corporate action (merger completion) rather than a discretionary transaction or performance update.
Future Outlook
This filing reports a completed transaction related to a merger, and therefore does not provide forward-looking statements or guidance for Hanesbrands Inc. as an independent entity.
Industry Context
This transaction signifies the completion of a significant merger in the apparel industry, where Hanesbrands Inc. is acquired by Gildan Activewear Inc. This consolidation could lead to changes in market share, competitive dynamics, and supply chain structures within the activewear and basic apparel sectors.
Stakeholder Impact
- Shareholders of Hanesbrands Inc. received a combination of Gildan common shares and cash for their Hanesbrands stock, effectively becoming shareholders of Gildan or exiting their investment.
- Employees, particularly those with equity compensation, saw their Hanesbrands RSUs converted into Gildan RSUs, aligning their incentives with the acquiring company.
Key Dates
| Date | Description |
|---|---|
| August 13, 2025 | Date of the Agreement and Plan of Merger between Hanesbrands Inc. and Gildan Activewear Inc. |
| December 1, 2025 | Date of earliest transaction and signature date for the disposal of Hanesbrands common stock and conversion of restricted stock units due to the merger. |
Keywords
Hanesbrands, HBI, Gildan, Merger, Acquisition, Form 4, Insider Transaction, Stock Disposal, Restricted Stock Units, Corporate Action
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