Form 4: Summit Materials Executive Charles DePriest Disposes of Shares in Merger Transaction

Charles DePriest, an executive at Summit Materials, disposed of Class A Common Stock, Restricted Stock Units, and Performance Stock Units as part of the merger with Quikrete Holdings, Inc.

Summary

• Charles DePriest, an EVP at Summit Materials, filed a Form 4 detailing changes in beneficial ownership.
• The transactions occurred on February 10, 2025, related to the merger between Summit Materials and Quikrete Holdings, Inc.
• DePriest disposed of 20,873 shares of Class A Common Stock at $52.50 per share.
• He also disposed of 15,358 Restricted Stock Units, 6,293 Performance Stock Units, and 11,083 Performance Stock Units.
• These disposals were a result of the merger agreement where shares and units were converted into the right to receive $52.50 in cash per share.

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard filing related to a previously announced merger. The executive's actions are a consequence of the merger agreement.

Future Outlook

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

Industry Context

This announcement reflects consolidation activity within the construction materials industry, where companies are merging to achieve greater scale and market presence. Quikrete's acquisition of Summit Materials is part of this trend.

Stakeholder Impact

• Shareholders received $52.50 per share as part of the merger consideration.
• Employees may experience changes as a result of the merger, though specific details are not provided in this document.

Key Dates

Keywords

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