Form 4: Matterport Chief Revenue Officer Remley Jay Reports Share Conversion Following CoStar Group Merger

Following the merger with CoStar Group, Matterport's Chief Revenue Officer, Jay Remley, reports the conversion of his Matterport shares and derivative securities into rights related to CoStar Group stock and cash.

Summary

• Jay Remley, Matterport's Chief Revenue Officer, filed a Form 4 to report changes in beneficial ownership of Matterport securities.
• The filing reflects transactions occurring on February 28, 2025, related to the merger between Matterport and CoStar Group.
• Remley's Class A Common Stock was converted into the right to receive $2.75 in cash plus 0.03552 shares of CoStar Group common stock per share.
• His restricted stock units were cancelled and converted into rights to receive the merger consideration or a corresponding award in respect of CoStar Group Common Stock.
• His options to purchase Class A Common Stock were cancelled and converted into options to purchase CoStar Group Common Stock.
• As a result of these transactions, Remley no longer directly owns Matterport Class A Common Stock.
• He previously held 1,539,165 shares of Class A Common Stock.
• He previously held 1,429,488 restricted stock units.
• He previously held 1,996,983 stock options.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing the completion of a merger. It doesn't express explicit positive or negative sentiment, but the completion of the merger could be viewed as a positive development for both companies.

Future Outlook

The document does not contain any forward-looking statements regarding Matterport's future performance, as it focuses on the completion of the merger with CoStar Group and the resulting conversion of securities.

Industry Context

This announcement reflects the completion of the merger between Matterport and CoStar Group, indicating a significant consolidation in the real estate technology sector. CoStar Group's acquisition of Matterport suggests a strategic move to integrate Matterport's 3D spatial data technology into CoStar's existing real estate information and marketing platforms.

Key Dates