Form 4: Nordstrom Director Eric Sprunk Reports Share Cancellation and Resignation Following Merger

Eric Sprunk, a director at Nordstrom, reported the cancellation of his common stock shares and his resignation from the board following the completion of a merger agreement.

Summary

• On May 20, 2025, Eric Sprunk, a director of Nordstrom, filed a Form 4 to report changes in beneficial ownership.
• This filing is related to the merger agreement dated December 22, 2024, between Nordstrom, Nordstrom Holdings, and Navy Acquisition Co. Inc.
• As a result of the merger, Navy Acquisition Co. Inc. merged into Nordstrom, with Nordstrom surviving as a wholly-owned subsidiary of Nordstrom Holdings.
• Sprunk's common stock shares were cancelled and converted into the right to receive $24.25 per share in cash.
• Following the merger, Nordstrom's common stock will be delisted from the New York Stock Exchange and deregistered under the Securities Exchange Act of 1934.
• Eric Sprunk resigned from the Board of Directors of Nordstrom, Inc. on May 20, 2025, and is no longer subject to Section 16 reporting requirements.

Sentiment

Score: 6

Explanation: Neutral sentiment as it reports a procedural event (merger completion and subsequent actions) without expressing positive or negative views.

Negatives

• Nordstrom's common stock will be delisted from the New York Stock Exchange.

Future Outlook

Following the merger, Nordstrom will operate as a private company under Nordstrom Holdings, Inc.

Industry Context

This announcement reflects a trend of companies undergoing mergers and acquisitions, leading to changes in their stock market status and management structures.

Management Changes

Stakeholder Impact

• Shareholders received $24.25 per share in cash.
• Nordstrom employees will continue under the new ownership structure.

Key Dates

Keywords

Merger, Nordstrom, Eric Sprunk, Form 4, Beneficial Ownership, Delisting, Resignation