Form 4: Logility Supply Chain Solutions Director Reports Disposition of Shares and Options Following Merger
SEC Form 4
Director Lizanne Thomas reports the disposition of common stock and stock options due to the merger of Logility Supply Chain Solutions, Inc. with Update Merger Sub, Inc., a subsidiary of Aptean, Inc.
Summary
- Lizanne Thomas, a director of Logility Supply Chain Solutions, Inc., filed a Form 4 on April 4, 2025, reporting changes in beneficial ownership.
- The filing pertains to the merger between Logility and Update Merger Sub, Inc., a wholly-owned subsidiary of Aptean, Inc., which became effective on April 4, 2025.
- As a result of the merger, each share of Logility's common stock was converted into the right to receive $14.30 in cash.
- Outstanding restricted stock units were also cancelled and converted into the right to receive $14.30 in cash.
- Stock options with an exercise price equal to or greater than $14.30 were cancelled without consideration.
- Stock options with an exercise price less than $14.30 were cancelled and converted into the right to receive cash equal to the difference between $14.30 and the exercise price, multiplied by the number of shares subject to the option.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document primarily reports the execution of a previously announced merger agreement.
Future Outlook
The document does not contain any specific forward-looking statements beyond the completion of the merger.
Industry Context
This announcement reflects a continuation of consolidation trends within the supply chain solutions industry, where companies are often acquired by larger entities seeking to expand their market presence or technology offerings.
Stakeholder Impact
- Shareholders received $14.30 in cash for each share of common stock.
- Holders of restricted stock units received $14.30 in cash for each unit.
- Option holders received cash for options with an exercise price below $14.30, while options with a higher exercise price were cancelled.
Key Dates
| Date | Description |
|---|---|
| January 24, 2025 | Date of the Agreement and Plan of Merger |
| April 4, 2025 | Date of the reported transaction (Merger Effective Time) |
| April 4, 2025 | Date of Form 4 filing |
| October 29, 2027 | Expiration date of some stock options |
| January 31, 2027 | Expiration date of some stock options |
| July 30, 2027 | Expiration date of some stock options |
| April 30, 2027 | Expiration date of some stock options |
| January 29, 2026 | Expiration date of some stock options |
| July 29, 2029 | Expiration date of some stock options |
| October 31, 2028 | Expiration date of some stock options |
| April 29, 2028 | Expiration date of some stock options |
| April 30, 2026 | Expiration date of some stock options |
| July 31, 2026 | Expiration date of some stock options |
| November 1, 2025 | Expiration date of some stock options |
| January 31, 2029 | Expiration date of some stock options |
| October 30, 2026 | Expiration date of some stock options |
| April 28, 2029 | Expiration date of some stock options |
Keywords
Form 4, Merger, Logility Supply Chain Solutions, Aptean, Director, Beneficial Ownership, Stock Options, Common Stock
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