Form 4: RB Global Director Smith Reports Beneficial Ownership Changes
SEC Form 4
Jeffrey C. Smith, a director of RB Global Inc., reports changes in beneficial ownership, including acquisitions of dividend equivalent rights and holdings through Starboard Value LP.
Summary
- Jeffrey C. Smith, a director of RB Global Inc. (RBA), filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
- The report includes acquisitions of dividend equivalent rights (DSUs and RSUs) and holdings through Starboard Value LP.
- Smith directly owns 2,039 Deferred Share Units, 2,630 Restricted Share Units, 7 Dividend Equivalent Rights (DSUs), and 9 Dividend Equivalent Rights (RSUs).
- Starboard Value LP is listed as indirectly owning 251,163 common shares and 6,775,252 Series A Preferred Shares which are convertible to common shares.
- Smith disclaims beneficial ownership of the securities held by Starboard Accounts except to the extent of his pecuniary interest therein.
Sentiment
Score: 7
Explanation: The sentiment is neutral to slightly positive. The filing is a routine disclosure, but the acquisition of dividend equivalent rights suggests continued alignment of the director's interests with the company's performance.
Positives
- The report provides transparency into the director's holdings and transactions.
- The acquisition of dividend equivalent rights suggests a continued alignment of interests with shareholders.
Future Outlook
The report does not contain specific forward-looking statements, but it details the terms of vesting and payment for DSUs and RSUs upon termination of the director's position.
Industry Context
Form 4 filings are a standard part of regulatory compliance for corporate insiders and provide transparency to the market regarding their transactions in the company's securities.
Stakeholder Impact
- Shareholders are informed about changes in the beneficial ownership of a key director.
- The filing provides transparency regarding the director's holdings and alignment with shareholder interests.
Key Dates
| Date | Description |
|---|---|
| 02/01/2023 | Holders of Series A Preferred Shares have the right to convert their shares into common shares on or after this date. |
| 06/20/2024 | Date of transaction for dividend equivalent rights (DSUs and RSUs). |
| 06/24/2024 | Date of signature for the Form 4 filing. |
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