Form 4: Patterson Companies CEO Donald Zurbay Disposes of Shares and Options Following Merger

Donald Zurbay, President & CEO of Patterson Companies, reports the disposition of shares and stock options due to the completion of a merger, where each share was converted into $31.35 in cash.

Summary

• Donald Zurbay, the President & CEO of Patterson Companies, filed a Form 4 detailing changes in beneficial ownership.
• The filing reports transactions occurring on April 17, 2025, related to the merger of Patterson Companies with Paradigm Merger Sub, Inc.
• Upon closing of the merger, each outstanding share of Patterson common stock was converted into the right to receive $31.35 in cash.
• Zurbay disposed of 398,185 shares of common stock as a result of the merger.
• He also disposed of various stock options, which were either cancelled for no consideration (if the exercise price was greater than the merger consideration) or converted into the right to receive cash based on the difference between the merger consideration and the exercise price.
• Performance share units (PSUs) held by Zurbay vested at the target level of performance due to the merger agreement, resulting in the acquisition of 20,840, 60,132, and 94,477 shares related to PSU grants from 2022, 2023, and 2024 respectively.
• The filing also indicates the disposition of 1,243 shares held indirectly through the Employee Stock Ownership Plan (KSOP).

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing detailing the completion of a merger. It's neutral in tone and simply reports the facts of the transaction.

Future Outlook

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

Industry Context

This announcement reflects a completed merger transaction, which is a common occurrence in the corporate world. The details provided are standard for regulatory filings related to such events.

Stakeholder Impact

• Shareholders received $31.35 per share in cash.
• Employees with stock options either received cash for their options or had them cancelled if the exercise price was too high.

Key Dates

Keywords

Merger, Patterson Companies, Donald Zurbay, Form 4, Beneficial Ownership, Stock Options, Shares, PSUs, Paradigm Parent, Paradigm Merger Sub, Disposition