Form 4: Patterson Companies' Chief Operating Officer Disposes of Shares and Options Following Merger Completion
SEC Form 4
Following the completion of the merger with Paradigm Parent, LLC, Patterson Companies' Chief Operating Officer, Kevin M Pohlman, reports the disposition of shares and stock options.
Summary
- Kevin M Pohlman, Chief Operating Officer of Patterson Companies, filed a Form 4 detailing changes in beneficial ownership following the merger with Paradigm Parent, LLC.
- The merger, completed on April 17, 2025, resulted in the cancellation of Patterson's common stock and conversion into the right to receive $31.35 in cash per share.
- Pohlman disposed of 217,107 shares of common stock and 1,923 shares held indirectly through the KSOP.
- Various stock options held by Pohlman were either cancelled for cash consideration or cancelled without consideration if the exercise price exceeded the merger consideration of $31.35.
- Performance share units (PSUs) granted to Pohlman vested at the target level upon the merger's closing.
Sentiment
Score: 7
Explanation: The document is a standard SEC filing detailing the completion of a merger and the resulting transactions. It's factual and doesn't convey strong positive or negative sentiment, but the completion of the merger is generally a positive event for shareholders who receive the cash consideration.
Future Outlook
The document primarily reports on the completion of the merger; no specific future outlook is provided beyond the effects of the merger.
Management Comments
- Patterson's Board of Directors approved the disposition of all equity securities by the Reporting Person in connection with the merger for purposes of Rule 16b-3 of the Exchange Act.
Industry Context
This announcement reflects a completed merger, a common event in the corporate world. The details provided are specific to the transaction and the reporting officer's holdings.
Stakeholder Impact
- Shareholders received $31.35 per share in cash.
- Employees with stock options either received cash consideration or had their options cancelled.
Key Dates
| Date | Description |
|---|---|
| 12/10/2024 | Date of the Merger Agreement between Patterson Companies, Paradigm Parent, LLC, and Paradigm Merger Sub, Inc. |
| 04/17/2025 | Date of the merger's closing, resulting in the conversion of shares to cash and disposition of stock options. |
| 04/17/2025 | Date of the Form 4 filing. |
| 07/01/2033 | Original expiration date of some stock options. |
| 07/01/2032 | Original expiration date of some stock options. |
| 07/01/2031 | Original expiration date of some stock options. |
| 07/14/2030 | Original expiration date of some stock options. |
| 07/01/2029 | Original expiration date of some stock options. |
| 07/01/2028 | Original expiration date of some stock options. |
| 08/07/2027 | Original expiration date of some stock options. |
| 07/01/2027 | Original expiration date of some stock options. |
Keywords
Patterson Companies, Paradigm Parent LLC, Merger, Form 4, Beneficial Ownership, Stock Options, Common Stock, Disposition, Kevin M Pohlman, Chief Operating Officer, PSUs, Performance Share Units
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