Form 4: Summit Materials Director Ellerbusch Disposes of Shares and Stock Units in Merger
SEC Form 4 Filing
Susan A. Ellerbusch, a director at Summit Materials, Inc., disposed of Class A Common Stock and various restricted stock units as part of the merger agreement with Quikrete Holdings, Inc.
Summary
- Susan A. Ellerbusch, a director of Summit Materials, Inc., filed a Form 4 detailing changes in her beneficial ownership of the company's securities.
- On February 10, 2025, Ellerbusch disposed of 23,386 shares of Class A Common Stock at a price of $52.50 per share due to the merger agreement with Quikrete Holdings, Inc.
- She also disposed of several types of restricted stock units: 3,815 Deferred Restricted Stock Units, 4,038 Deferred Restricted Stock Units, 3,341 Restricted Stock Units, and 2,547 Restricted Stock Units.
- These disposals were a result of the merger agreement where each share of Class A common stock and each restricted stock unit was converted into the right to receive $52.50 in cash.
- The transactions were executed under a plan related to the merger agreement dated November 24, 2024.
Sentiment
Score: 7
Explanation: The document is a standard SEC filing related to a merger. The sentiment is neutral, reflecting the completion of a planned transaction. The merger itself could be viewed positively by shareholders receiving cash consideration.
Future Outlook
The document describes the completion of transactions related to the merger agreement, implying the merger is proceeding as planned.
Industry Context
This announcement reflects merger and acquisition activity within the construction materials industry, where companies like Summit Materials are being acquired by larger entities like Quikrete Holdings, Inc.
Stakeholder Impact
- Shareholders received $52.50 per share as part of the merger consideration.
- The merger impacts the company's structure and operations.
Key Dates
| Date | Description |
|---|---|
| November 24, 2024 | Date of the Agreement and Plan of Merger between Summit Materials, Inc., Quikrete Holdings, Inc., and Soar Subsidiary, Inc. |
| February 10, 2025 | Date of the transactions where shares and restricted stock units were disposed of as part of the merger. |
Keywords
Form 4, Summit Materials, Ellerbusch, Merger, Quikrete, Class A Common Stock, Restricted Stock Units, Beneficial Ownership, Disposition
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