Form 4: Patterson Companies Director Disposes of Shares in Merger Transaction

Director Robert Frenzel reports the disposition of Patterson Companies shares following the completion of a merger, where each share was converted into $31.35 in cash.

Summary

• Robert Frenzel, a director of Patterson Companies, Inc., filed a Form 4 to report changes in beneficial ownership.
• The report details the disposition of 38,242 shares of common stock due to the completion of a merger on April 17, 2025.
• Each share was converted into the right to receive $31.35 in cash.
• The disposition was approved by Patterson's Board of Directors for purposes of Rule 16b-3 of the Exchange Act.
• The merger was executed under the Agreement and Plan of Merger dated December 10, 2024, involving Patterson, Paradigm Parent, LLC, and Paradigm Merger Sub, Inc.

Sentiment

Score: 6

Explanation: The document is neutral, reporting a completed transaction. The sentiment is neither particularly positive nor negative as it simply reflects the outcome of a pre-existing agreement.

Future Outlook

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

Industry Context

This announcement reflects a completed merger transaction, which is a common occurrence in the corporate world. The conversion of shares to cash is a typical outcome for shareholders in such mergers.

Comparison to Industry Standards

• Merger transactions resulting in cash payouts to shareholders are a standard practice.
• The specific valuation of $31.35 per share would need to be compared against industry averages and precedent transactions to assess its fairness.

Stakeholder Impact

• Shareholders received $31.35 in cash for each share they held.
• The merger's completion impacts the company's structure and future operations.

Key Dates

Keywords

Merger, Disposition, Form 4, Patterson Companies, Beneficial Ownership, Director, PDCO, Shares