Form 4: REV Group CFO's Equity Converts in Terex Merger

Amy A. Campbell's REV Group equity holdings were converted into Terex common stock, restricted units, and cash payments following the merger effective February 2, 2026.

Summary

• Amy A. Campbell, Senior VP & CFO of REV Group, Inc. (REVG), reported changes in beneficial ownership following the merger of REV Group with Terex Corporation.
• The merger, effective February 2, 2026, involved REV Group becoming a wholly owned subsidiary of Terex Corporation.
• Outstanding shares of REV Group common stock were converted into 0.9809 shares of Terex common stock and $8.71 in cash per share.
• Issuer Performance Stock Unit Awards (PSUs) were converted into Terex Restricted Stock Unit Awards (RSUs) covering 1.1309 shares of Terex common stock per Issuer PSU share, plus a restricted cash payment.
• Issuer Restricted Share Awards (RSAs) were converted into Terex Restricted Stock Awards (RSAs) covering 0.9809 shares of Terex common stock per Issuer RSA share, plus a restricted cash payment of $8.71 per Issuer RSA share.
• Issuer Restricted Stock Unit Awards (RSUs) were converted into Terex Restricted Stock Unit Awards (RSUs) covering 1.1309 shares of Terex common stock per Issuer RSU share, plus a restricted cash payment.
• Following these transactions, Amy A. Campbell's direct beneficial ownership of REV Group common stock is 0 shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a neutral to positive event for the reporting person, as their equity was converted into a new, potentially larger entity's stock and cash, reflecting the successful completion of a merger.

Positives

• The merger successfully completed, indicating a strategic transaction for both companies.
• The reporting person's equity holdings were converted into a combination of Terex common stock and cash, providing liquidity and continued equity participation in the acquiring entity.
• Equity awards (PSUs, RSAs, RSUs) were converted into equivalent Terex awards and restricted cash payments, generally retaining their vesting criteria.

Negatives

• REV Group, Inc. ceased to be an independent publicly traded entity.
• The reporting person no longer holds direct beneficial ownership in REV Group common stock.

Future Outlook

The filing reports a completed transaction and does not provide forward-looking statements or guidance from REV Group, Inc., which is now a wholly-owned subsidiary of Terex Corporation. Future outlook for the combined entity would be provided by Terex Corporation.

Industry Context

StockSavvy.ai notes this merger signifies consolidation in the industrial manufacturing and specialty vehicle sector, with Terex Corporation expanding its portfolio by acquiring REV Group. Such strategic acquisitions are common in mature industries seeking to achieve economies of scale and market share growth.

Comparison to Industry Standards

• Mergers and acquisitions are common strategies for consolidation and growth in the industrial manufacturing sector, similar to recent activities seen with companies like Caterpillar acquiring smaller specialized equipment manufacturers or Oshkosh Corporation expanding its defense and specialty vehicle segments.
• The conversion terms, including a mix of stock and cash, are typical for strategic mergers, aiming to balance immediate value for shareholders with continued participation in the combined entity's future growth.

Stakeholder Impact

• Shareholders of REV Group, Inc. had their shares converted into a combination of Terex Corporation common stock and cash.
• Employees holding equity awards in REV Group, Inc., such as the reporting person, had their awards converted into equivalent Terex Corporation equity awards and restricted cash payments, generally maintaining their vesting criteria.

Key Dates

Keywords

REV Group, REVG, Terex Corporation, Merger, Form 4, Beneficial Ownership, Stock Conversion, Amy Campbell, CFO, Equity Awards