Form 4: Summit Materials Director Anne M. Cooney Disposes of Shares in Merger Transaction

Director Anne M. Cooney reports the disposal of Class A Common Stock and conversion of restricted stock units into cash as part of the merger between Summit Materials, Inc. and Quikrete Holdings, Inc.

Summary

• Anne M. Cooney, a director of Summit Materials, Inc., reported changes in beneficial ownership of the company's securities 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.
• Cooney disposed of 13,505 shares of Class A Common Stock at a price of $52.50 per share.
• Restricted stock units and deferred restricted stock units held by Cooney were fully vested, canceled, and converted into the right to receive $52.50 in cash per unit.
• The number of restricted stock units converted were 5,342, 4,374, 3,815, 4,038, 3,341 and 2,547.
• Following the reported transactions, Cooney's beneficial ownership of derivative securities is zero.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports the execution of a pre-existing merger agreement. There are no indications of unexpected positive or negative outcomes.

Future Outlook

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

Industry Context

This announcement reflects a corporate transaction (merger) within the materials industry, specifically involving a company in the aggregates business (Summit Materials) being acquired. Such mergers can lead to industry consolidation and changes in competitive dynamics.

Stakeholder Impact

• Shareholders received $52.50 per share as part of the merger consideration.
• Employees may experience changes related to the integration of Summit Materials into Quikrete Holdings, Inc.

Key Dates

Keywords

Summit Materials, Merger, Form 4, Beneficial Ownership, Cooney, Quikrete, Stock Units, Director