Form 4: Intevac Director Michele Klein Disposes of Shares in Merger with Seagate Technology

Director Michele Klein reports the disposal of Intevac shares and restricted stock units following the merger agreement with Seagate Technology, receiving cash consideration.

Summary

• Michele Klein, a director of Intevac Inc., reported the disposal of 52,000 common stock shares on March 31, 2025, due to the merger agreement with Seagate Technology.
• The shares were tendered before the Expiration Date and disposed of at the Offer Acceptance Time in exchange for $4.00 per share in cash.
• Additionally, 12,000 restricted stock units (RSUs) were cancelled at the Effective Time of the merger, also for a cash payment based on the Offer Consideration.
• The cash payment was equal to the total number of shares subject to such Company RSU immediately prior to the Effective Time multiplied by the Offer Consideration.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it reports a standard transaction following a merger agreement. There are no indications of unusual or concerning activity.

Future Outlook

The document describes the completion of a merger, so the future outlook for Intevac as an independent entity is limited.

Industry Context

The document indicates a consolidation within the technology industry, with Seagate Technology acquiring Intevac.

Stakeholder Impact

• Shareholders received $4.00 per share as part of the merger agreement.
• Employees with vested RSUs received a cash payment based on the offer consideration.

Key Dates

Keywords

Merger, Seagate Technology, Intevac, Director, Share Disposal, Form 4, Klein, RSU, Offer Consideration