Form 4: RB Global Director Jeffrey C. Smith Reports Changes in Beneficial Ownership

Director Jeffrey C. Smith reports changes in beneficial ownership of RB Global Inc. securities, including common shares and deferred share units.

Summary

• Jeffrey C. Smith, a director of RB Global Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The report indicates ownership of 251,163 common shares indirectly through Starboard Value LP.
• Smith also reports activity related to Deferred Share Units (DSUs), acquiring 451 DSUs on March 4, 2024.
• These DSUs will be settled in cash upon termination of his directorship or employment with RB Global, based on the fair market value of RBA common shares at that time.
• Additionally, Smith holds dividend equivalent rights related to the DSUs, which become payable concurrently with the DSUs.
• Starboard Value LP is reported as holding 6,775,252 Series A Preferred Shares, convertible into common shares at a rate of 0.0139696 shares per $1.00 face amount.
• Smith disclaims beneficial ownership of securities held by Starboard Accounts except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: This is a routine disclosure of changes in beneficial ownership, with no inherently positive or negative implications.

Future Outlook

The DSUs will be settled in cash upon termination of Smith's directorship or employment, based on the fair market value of RBA common shares at that time.

Industry Context

Form 4 filings are standard practice for corporate insiders to report changes in their ownership of company securities, providing transparency to investors.

Stakeholder Impact

• Shareholders are informed about changes in insider ownership, which can influence investor sentiment.

Key Dates