Form 4: Patterson Companies CFO Kevin Barry Reports Share Disposition Following Merger
SEC Form 4
CFO Kevin Michael Barry reports the disposition of Patterson Companies shares and cancellation of stock options following the completion of the merger with Paradigm Parent, LLC.
Summary
- Kevin Michael Barry, CFO of Patterson Companies, filed a Form 4 on April 17, 2025, reporting changes in beneficial ownership of the company's securities.
- The filing details the vesting of performance share units (PSUs) and the disposition of common stock in connection with the merger between Patterson Companies and Paradigm Parent, LLC, which closed on April 17, 2025.
- Upon closing of the merger, each outstanding share of Patterson common stock was converted into the right to receive $31.35 in cash.
- The filing also reports the cancellation of stock options, with vested options being converted into the right to receive cash based on the difference between the merger consideration and the exercise price.
- Options with an exercise price greater than or equal to the merger consideration were cancelled for no consideration.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports the completion of a merger and the resulting changes in stock ownership and option cancellations, which are standard procedures in such transactions.
Negatives
- Stock options with an exercise price greater than or equal to the merger consideration were cancelled for no consideration.
Future Outlook
The merger between Patterson Companies and Paradigm Parent, LLC is complete, and Patterson Companies is now a wholly owned subsidiary of Paradigm Parent, LLC.
Industry Context
This announcement reflects a completed merger transaction, which is a common occurrence in the corporate world as companies seek to consolidate, expand, or restructure their operations.
Stakeholder Impact
- Shareholders received $31.35 per share in cash.
- Employees with stock options either received cash for their vested options or had their options cancelled if the exercise price was above the merger consideration.
Key Dates
| Date | Description |
|---|---|
| 12/10/2024 | Date of the Agreement and Plan of Merger between Patterson, Paradigm Parent, LLC, and Paradigm Merger Sub, Inc. |
| 04/17/2025 | Date of the earliest transaction and closing date of the merger. |
| 04/17/2025 | Date of Form 4 filing. |
| 07/01/2029 | Expiration date of some stock options. |
| 07/14/2030 | Expiration date of some stock options. |
| 07/01/2031 | Expiration date of some stock options. |
| 07/01/2032 | Expiration date of some stock options. |
| 07/01/2033 | Expiration date of some stock options. |
Keywords
Form 4, Patterson Companies, Merger, Paradigm Parent LLC, Kevin Michael Barry, CFO, Stock Options, PSUs, Beneficial Ownership, Disposition
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