Form 4: Vacasa Director Cohen Reports Share Conversion and Cash Acquisition Following Merger

Director Chad M Cohen reports the conversion of Vacasa Holdings LLC units into Class A Common Stock and subsequent cash acquisition of those shares at $5.30 per share due to the merger with Casago Holdings, LLC.

Summary

• Chad M Cohen, a director of Vacasa, Inc., reported changes in beneficial ownership following the merger with Casago Holdings, LLC.
• Prior to the merger, Cohen's Vacasa Holdings LLC units were redeemed and exchanged for Class A Common Stock.
• Upon completion of the merger, each share of Class A Common Stock was converted into the right to receive $5.30 in cash.
• Cohen directly held 38,538 shares of Class A Common Stock which were converted to cash.
• Cohen also held Vacasa Employee Holdings LLC Interests and Vacasa Holdings Units which were converted to Class A Common Stock and then converted to cash.
• The merger was executed under the Agreement and Plan of Merger dated December 30, 2024, and amended on March 17, 2025, and March 28, 2025.

Sentiment

Score: 7

Explanation: The document describes a completed merger and the resulting cash acquisition of shares, which is generally a positive outcome for shareholders who receive cash for their shares. The sentiment is neutral to positive as it reflects the completion of a pre-planned transaction.

Future Outlook

The company is now a wholly-owned subsidiary of Parent (Casago Holdings, LLC).

Industry Context

This announcement reflects a completed merger transaction, which is a common occurrence in the hospitality and vacation rental industry as companies seek to consolidate and gain market share.

Comparison to Industry Standards

• Vacasa's acquisition by Casago Holdings, LLC is similar to other acquisitions in the vacation rental industry, such as Wyndham Destinations' acquisition of Rental Escapes, where larger companies acquire smaller entities to expand their portfolios and market reach.
• The $5.30 per share cash consideration is a key metric for evaluating the deal's value compared to other similar transactions, such as the price-to-earnings ratios or revenue multiples seen in comparable acquisitions.

Stakeholder Impact

• Shareholders received $5.30 per share in cash.
• Vacasa is now a wholly-owned subsidiary of Casago Holdings, LLC.

Key Dates

Keywords

Merger, Vacasa, Cohen, Class A Common Stock, Beneficial Ownership, Form 4, Casago Holdings, Acquisition