Form 4: Voxx International CEO Lavelle Reports Share Disposal Following Merger with Gentex Corporation

Patrick Lavelle, CEO of Voxx International, reports the disposal of shares and restricted stock units following the merger with Gentex Corporation, where Voxx became a wholly-owned subsidiary of Gentex.

Summary

• Patrick M. Lavelle, CEO and President of Voxx International, filed a Form 4 detailing changes in beneficial ownership.
• The filing is related to the merger between Voxx International and Gentex Corporation, which occurred on April 1, 2025.
• As a result of the merger, each share of Voxx's Class A and Class B Common Stock was converted into the right to receive $7.50 in cash.
• Lavelle disposed of 609,744 shares of Class A Common Stock held in a revocable trust at a price of $7.50 per share.
• Additionally, 220,854 SERP Restricted Stock Units were disposed of, with each unit converted into the right to receive a cash payment of $7.50 per share.
• Lavelle also acquired 6,667 SERP Restricted Stock Units, which were then cancelled in connection with the merger.

Sentiment

Score: 7

Explanation: The document reflects a completed merger transaction, which is generally a positive event for shareholders receiving cash. The sentiment is neutral to slightly positive as it represents the conclusion of a significant corporate action.

Positives

• The merger provided shareholders with a cash payment of $7.50 per share.

Future Outlook

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

Industry Context

Mergers and acquisitions are common in the corporate world, often driven by strategic goals such as market expansion, synergy creation, or diversification. This merger results in Voxx becoming a subsidiary of Gentex.

Comparison to Industry Standards

• The conversion of stock to cash at a set price is a standard procedure in mergers and acquisitions.
• The valuation of $7.50 per share would be assessed against industry multiples and comparable transactions to determine fairness.
• Gentex Corporation is a major supplier of automatic-dimming mirrors and electronics for the automotive industry, and this merger likely reflects strategic alignment or diversification goals.

Key Dates

Keywords

Merger, Voxx International, Gentex Corporation, Form 4, Beneficial Ownership, Patrick Lavelle, Shares, Restricted Stock Units, SERP, Cash Payment