Form 4: Summit Materials Director Cantie Reports Disposal of Shares in Merger Transaction

Director Joseph S. Cantie reports the disposal of Class A Common Stock and Restricted Stock Units due to the merger between Summit Materials and Quikrete Holdings, where shares were converted to cash at $52.50 per share.

Summary

• Joseph S. Cantie, a director of Summit Materials, Inc., filed a Form 4 detailing changes in beneficial ownership.
• The report indicates transactions occurred on February 10, 2025, related to the merger with Quikrete Holdings.
• Cantie's Class A Common Stock shares were canceled and converted into the right to receive $52.50 in cash per share.
• Restricted Stock Units held by Cantie were fully vested, canceled, and converted into the right to receive the same merger consideration.
• The transactions resulted in Cantie no longer directly owning Class A Common Stock or Restricted Stock Units.
• Cantie indirectly owns shares through a trust where he and his spouse are trustees.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports a transaction related to a previously announced merger. There are no indications of positive or negative performance beyond the expected outcome of the merger.

Future Outlook

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

Industry Context

This announcement reflects merger and acquisition activity within the construction materials industry, where companies often consolidate to achieve synergies, expand market share, or diversify product offerings. Quikrete's acquisition by Summit Materials is an example of this trend.

Stakeholder Impact

• Shareholders received $52.50 per share as part of the merger consideration.

Key Dates

Keywords

Form 4, Summit Materials, Quikrete Holdings, Merger, Beneficial Ownership, Director, Cantie, SUM, Class A Common Stock, Restricted Stock Units