Form 4: Hillenbrand Director's RSUs Cashed Out in Merger

Director Gary Collar's restricted stock units were cancelled and converted to cash at $32.00 per share following Hillenbrand's merger with LSF12 Helix Parent, LLC.

Summary

• Gary Collar, a Director of Hillenbrand, Inc., reported a change in beneficial ownership related to a merger transaction.
• On February 10, 2026, Hillenbrand, Inc. merged with LSF12 Helix Merger Sub, Inc., a wholly owned subsidiary of LSF12 Helix Parent, LLC, with Hillenbrand surviving as a wholly owned subsidiary of Parent.
• At the effective time of the merger, each outstanding share of Hillenbrand's common stock was converted into the right to receive $32.00 in cash.
• Gary Collar's 36,501 restricted stock units (RSUs) were cancelled and converted into a cash payment based on the $32.00 per share merger consideration, less any required withholding taxes.
• Following this transaction, Gary Collar beneficially owns 0 derivative securities in Hillenbrand, Inc.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to slightly positive event for the reporting person, as it confirms the cash realization of their equity holdings due to the merger. For the company, it signifies the completion of a major corporate transaction.

Positives

• The merger resulted in a cash payout for shareholders and RSU holders at a fixed price of $32.00 per share, providing liquidity and a defined return for equity holders.

Negatives

• Hillenbrand, Inc. is now a wholly owned subsidiary of LSF12 Helix Parent, LLC, implying it is no longer a publicly traded entity under its previous structure.
• Director Gary Collar no longer holds derivative securities in the company.

Future Outlook

The filing does not provide forward-looking statements or guidance, as it reports a past transaction related to a completed merger.

Industry Context

StockSavvy.ai notes that this Form 4 filing reflects the final stages of a corporate acquisition, a common event in mature industries where consolidation can drive efficiency or market share. The cash-out of insider equity aligns with the typical mechanics of a take-private transaction, removing the company from public trading under its previous structure.

Comparison to Industry Standards

• StockSavvy.ai observes that a cash merger consideration of $32.00 per share for Hillenbrand, Inc. is a specific valuation for this transaction. Without details on the company's prior trading multiples, growth prospects, or comparable transactions in its specific industrial manufacturing and processing solutions sectors (e.g., compared to recent acquisitions in packaging, material handling, or process equipment industries like those involving companies such as Dover Corporation, Illinois Tool Works, or SPX FLOW), a direct assessment against global benchmarks is not possible from this filing alone. The per-share price would typically be evaluated against the target company's historical stock performance, analyst price targets, and precedent M&A transactions in its peer group.

Management Changes

Stakeholder Impact

• Shareholders (former): Received $32.00 per share in cash for their common stock.
• Employees (with RSUs): Received cash payment for their RSUs based on the merger consideration.
• Gary Collar (Director): Cashed out 36,501 RSUs and is no longer subject to Section 16 reporting for Hillenbrand, Inc.

Next Steps

• The filing indicates the completion of the merger, making Hillenbrand, Inc. a wholly owned subsidiary.
• The reporting person, Gary Collar, is no longer subject to Section 16 obligations for Hillenbrand, Inc.

Key Dates

Keywords

Hillenbrand, HI, Merger, Acquisition, Restricted Stock Units, RSU, Insider Transaction, Form 4, Gary Collar, LSF12 Helix Parent