Form 4: Sirius XM Director James P. Holden Reports Disposition of Shares and Options Following Merger
SEC Form 4 Filing
Director James P. Holden reports the disposition of Sirius XM shares and stock options due to the merger of Radio Merger Sub, LLC with Sirius XM Holdings Inc.
Summary
- James P. Holden, a director of Sirius XM Holdings Inc., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the disposition of 451,565 shares of Sirius XM common stock at a price of $0 per share on September 9, 2024.
- This disposition is attributed to the merger of Radio Merger Sub, LLC with and into Old Sirius XM, with Old Sirius XM continuing as the surviving company, pursuant to the Merger Agreement dated December 11, 2023.
- The merger involved an exchange rate of ten shares of Old Sirius XM common stock for one share of New Sirius XM common stock.
- The report also covers the disposition of stock options to acquire shares of Old Sirius XM common stock, including 36,600 options at $4.61, 76,100 options at $3.65, 79,500 options at $3.71, and 24,700 options at $6.81.
- Following the merger, New Sirius XM changed its name to Sirius XM Holdings Inc., and Old Sirius XM changed its name to Sirius XM Inc.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing related to a corporate merger, with neutral sentiment.
Industry Context
Mergers and acquisitions are common in the media and entertainment industry as companies seek to consolidate and expand their market reach.
Stakeholder Impact
- Shareholders experienced a share conversion as part of the merger.
Key Dates
| Date | Description |
|---|---|
| 2016-05-20 | Expiration date of some stock options. |
| 2017-05-25 | Expiration date of some stock options. |
| 2018-05-19 | Expiration date of some stock options. |
| 2019-06-05 | Expiration date of some stock options. |
| 2023-12-11 | Date of the Merger Agreement. |
| 2024-05-20 | Expiration date of some stock options. |
| 2024-05-25 | Expiration date of some stock options. |
| 2024-06-05 | Expiration date of some stock options. |
| 2024-09-09 | Date of the transaction (merger and disposition of shares and options). |
| 2024-09-11 | Date of the Form 4 filing. |
| 2025-05-20 | Expiration date of some stock options. |
| 2026-05-25 | Expiration date of some stock options. |
| 2027-05-19 | Expiration date of some stock options. |
| 2028-06-05 | Expiration date of some stock options. |
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