Form 4: Summit Materials CEO Anne Noonan Disposes of Shares and Stock Units in Merger Transaction

Anne Noonan, President & CEO of Summit Materials, disposed of Class A Common Stock, Performance Stock Units, and Restricted Stock Units following the merger agreement with Quikrete Holdings, Inc.

Summary

• Anne Noonan, the President & CEO of Summit Materials, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The filing indicates that on February 10, 2025, Noonan disposed of 362,421 shares of Class A Common Stock at a price of $52.50 per share due to the merger with Quikrete Holdings, Inc.
• Additionally, Noonan disposed of 54,364 and 71,479 Performance Stock Units, and 102,182 Restricted Stock Units, which were converted into the right to receive $52.50 per share as part of the merger agreement.
• The transactions were executed as per the agreement and plan of merger dated November 24, 2024, between Summit Materials, Inc., Quikrete Holdings, Inc., and Soar Subsidiary, Inc.

Sentiment

Score: 6

Explanation: Neutral sentiment as the document primarily reports the execution of a pre-planned transaction (merger) and the disposal of shares as a result. No positive or negative surprises are apparent.

Future Outlook

The merger between Summit Materials and Quikrete Holdings, Inc. is expected to proceed as planned, with shareholders receiving $52.50 per share.

Industry Context

The merger reflects ongoing consolidation trends in the construction materials industry, as companies seek to expand their market presence and achieve synergies.

Stakeholder Impact

• Shareholders received $52.50 per share as part of the merger consideration.
• Employees may experience changes as a result of the merger, depending on integration plans.

Key Dates

Keywords

Form 4, Summit Materials, Anne Noonan, Merger, Quikrete, Stock Disposal, Beneficial Ownership, Class A Common Stock, Performance Stock Units, Restricted Stock Units