Form 4: Summit Materials Executive Jason Kilgore Disposes of Shares and Derivative Securities in Merger Transaction

Jason Kilgore, an executive at Summit Materials, disposed of Class A Common Stock, options, and restricted/performance stock units due to the merger with Quikrete Holdings, receiving $52.50 per share.

Summary

• Jason Kilgore, an EVP at Summit Materials, filed a Form 4 detailing changes in beneficial ownership.
• On February 10, 2025, Kilgore disposed of 7,726 shares of Class A Common Stock at $52.50 per share.
• He also disposed of 108,642 shares held indirectly.
• The transactions occurred due to the merger between Summit Materials and Quikrete Holdings, Inc.
• As part of the merger agreement, each share of Class A common stock was converted into the right to receive $52.50 in cash.
• Restricted stock units and performance stock units were fully vested and converted into the right to receive the merger consideration.
• Stock options were also fully vested, canceled, and converted into the right to receive the excess of the merger consideration over the exercise price.
• Kilgore disposed of various options, restricted stock units, and performance stock units.
• Following the reported transactions, Kilgore directly holds zero shares and derivative securities.

Sentiment

Score: 6

Explanation: The document is a standard SEC filing related to a merger. The sentiment is neutral as it simply reports transactions related to the 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 a merger transaction within the construction materials industry, indicating consolidation and potential shifts in market share and competitive landscape.

Stakeholder Impact

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

Key Dates

Keywords

Form 4, Summit Materials, Jason Kilgore, Quikrete Holdings, Merger, Beneficial Ownership, Class A Common Stock, Stock Options, Restricted Stock Units, Performance Stock Units, Disposition