Form 4: Summit Materials Director Anne K. Wade Disposes of Shares and Stock Units in Merger Transaction

Director Anne K. Wade reports the disposal of Class A Common Stock and various stock units due to the merger between Summit Materials, Inc. and Quikrete Holdings, Inc.

Summary

• Anne K. Wade, a director of Summit Materials, Inc., reported changes in beneficial ownership on February 10, 2025.
• The transactions are related to the merger agreement between Summit Materials, Inc., Quikrete Holdings, Inc., and Soar Subsidiary, Inc. dated November 24, 2024.
• Wade disposed of 22,121 shares of Class A Common Stock at a price of $52.50 per share.
• She also disposed of 5,342, 4,374, 3,341, and 2,547 Deferred Restricted Stock Units and Restricted Stock Units.
• These disposals were due to the conversion of Class A common stock and stock units into the right to receive $52.50 in cash as part of the merger consideration.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports the execution of a pre-arranged merger agreement.

Future Outlook

The document does not contain any specific forward-looking statements beyond the completion of the merger transaction.

Industry Context

This announcement reflects merger and acquisition activity within the materials industry, where companies often consolidate to achieve synergies and expand market presence.

Stakeholder Impact

• Shareholders received $52.50 in cash for each share of Class A common stock as part of the merger consideration.

Key Dates

Keywords

Form 4, Summit Materials, Merger, Beneficial Ownership, Director, Wade, Stock Units, Class A Common Stock