Form 4: Innovex International Director Angie Sedita Reports Acquisition of Common Stock Following Merger
SEC Form 4
Director Angie Sedita reports acquiring Innovex International common stock and restricted stock units following the merger with Innovex Downhole Solutions.
Summary
- On September 6, 2024, Angie Sedita, a director of Innovex International, Inc., reported transactions involving the company's common stock.
- These transactions resulted from the merger of Dril-Quip, Inc. and Innovex Downhole Solutions, Inc.
- Sedita acquired 46 shares of common stock in exchange for options of Innovex Downhole Solutions.
- She also acquired 28 shares of common stock in exchange for restricted stock units of Innovex Downhole.
- Additionally, Sedita acquired 12,577 restricted stock units of Innovex International in exchange for restricted stock units of Innovex Downhole.
- Following these transactions, Sedita directly owns 12,652 shares of Innovex International common stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as the filing simply reports transactions related to a previously announced merger. There is no indication of positive or negative performance, just standard procedure.
Industry Context
This filing reflects the completion of a merger transaction within the oil and gas services industry, where consolidation and strategic acquisitions are common strategies for growth and market positioning.
Stakeholder Impact
- The merger and subsequent stock transactions impact shareholders of Innovex International, Dril-Quip, and formerly Innovex Downhole Solutions.
Key Dates
| Date | Description |
|---|---|
| March 18, 2024 | Date of the Agreement and Plan of Merger among Dril-Quip, Inc., Ironman Merger Sub, Inc., DQ Merger Sub, LLC, and Innovex Downhole Solutions Inc. |
| September 6, 2024 | Date of the transactions reported by Angie Sedita. |
| September 10, 2024 | Date of signature for the Form 4 filing. |
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