Form 4: Matterport Director Peter Hebert Reports Share Conversion Following CoStar Group Merger

Director Peter Hebert reports the conversion of Matterport Class A common stock into cash and CoStar Group common stock following the merger with CoStar Group, Inc.

Summary

• Peter Hebert, a director of Matterport, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The filing reports transactions related to the merger between Matterport and CoStar Group, Inc., which was governed by a merger agreement dated April 21, 2024.
• As a result of the merger, each share of Matterport's Class A common stock held by Hebert was converted into the right to receive $2.75 in cash plus 0.03552 shares of CoStar Group common stock.
• Additionally, restricted stock units (RSUs) held by Hebert that vested due to the merger were cancelled and converted into the right to receive the same merger consideration.
• Other outstanding RSUs were converted into a corresponding award in respect of CoStar Group Common Stock based on the Equity Award Conversion Factor as determined in accordance with the formula in the Merger Agreement.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard regulatory filing related to a previously announced merger. The document simply reports the execution of the merger terms.

Future Outlook

The document does not contain explicit forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects the completion of a merger transaction in the real estate technology sector, where Matterport's 3D spatial data platform is being integrated into CoStar Group's real estate information and marketing services.

Stakeholder Impact

• Shareholders of Matterport received cash and CoStar Group stock as part of the merger consideration.
• Employees with RSUs experienced vesting and conversion of their awards.

Key Dates