Form 4: Sealed Air Corp Merger Completes, Executive Ownership Changes

Sealed Air Corporation's merger with Sword Purchaser, LLC has been finalized, resulting in changes to executive beneficial ownership and the conversion of stock units into cash.

Summary

• The filing reports on changes in beneficial ownership for Russell K. Grissett, an officer of Sealed Air Corporation, following the completion of a merger.
• The merger, effective April 9, 2026, involved Sealed Air Corporation, Sword Purchaser, LLC, and Sword Merger Sub, Inc., with Sealed Air Corporation surviving as a subsidiary of Sword.
• Each outstanding share of Common Stock was converted into the right to receive $42.15 in cash per share.
• Restricted stock units (RSUs) were cancelled and converted into a contingent cash right equal to the number of underlying shares multiplied by the merger consideration, subject to vesting conditions.
• Russell K. Grissett's direct beneficial ownership of common stock changed from 40,228 shares to 0, and indirect ownership in the 401(k) and Profit-Sharing Plan also changed.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, primarily reporting on the completion of a merger and the resulting changes in beneficial ownership, rather than ongoing operational performance.

Positives

• The merger was completed, providing shareholders with a cash payout of $42.15 per share.
• Executive compensation structures (RSUs) were converted into cash, providing liquidity.

Negatives

• The company is no longer publicly traded as an independent entity.
• Direct and indirect beneficial ownership of common stock by reporting person Russell K. Grissett has been reduced to zero following the merger's completion.

Risks

• The filing does not explicitly detail future risks as it pertains to a completed merger and change of control.

Future Outlook

The filing does not provide forward-looking statements or guidance as it reports on a completed transaction. The future outlook is now tied to the acquiring entity, Sword Purchaser, LLC.

Industry Context

StockSavvy.ai notes that this Form 4 filing reflects a significant corporate event, the completion of a merger, which is a common strategic move in industries undergoing consolidation or seeking to leverage private equity backing. The conversion of equity awards to cash is standard practice in such transactions.

Stakeholder Impact

• Shareholders: Received $42.15 per share in cash, realizing their investment.
• Employees: Restricted stock units converted to cash, subject to vesting and termination terms.
• Management (Reporting Person): Beneficial ownership of common stock reduced to zero post-merger.

Next Steps

• The company will now operate as a wholly owned subsidiary of Sword Purchaser, LLC.
• Shareholders have received the merger consideration.

Key Dates

Keywords

Sealed Air Corporation, Merger, Form 4, Beneficial Ownership, SEC Filing, Russell K. Grissett, Merger Consideration, Restricted Stock Units, Sword Purchaser LLC