Form 4: Voxx International Corp Director Disposes of Shares Following Merger with Gentex Corporation

Director Ari Shalam reports the disposition of Class A and Class B Common Stock and SERP Restricted Stock Units following the merger of Voxx International Corp with Gentex Corporation on April 1, 2025.

Summary

• Ari Shalam, a director of Voxx International Corp, filed a Form 4 detailing changes in beneficial ownership.
• On September 10, 2020, Shalam transferred shares of Class A and Class B Common Stock to SHALVOXX A Holdco LLC and SHALVOXX B Holdco LLC, respectively, of which he is a manager.
• On April 1, 2025, following the merger of Voxx with Gentex Corporation, Shalam disposed of 19,057 shares of Class A Common Stock and 38,934 shares of Class B Common Stock for $7.50 per share.
• Additionally, 1,915,373 shares of Class A Common Stock and 2,144,152 shares of Class B Common Stock held by SHALVOXX A Holdco LLC and SHALVOXX B Holdco LLC, respectively, were disposed of at $7.50 per share.
• SERP Restricted Stock Units were also cashed out at $7.50 per share.

Sentiment

Score: 6

Explanation: The document is neutral, reporting a transaction resulting from a previously announced merger. The sentiment is neither particularly positive nor negative.

Future Outlook

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

Management Comments

• The Reporting Person disclaims beneficial ownership of the shares of Company Common Stock held by such entities except to the extent of his pecuniary interest.

Industry Context

This announcement reflects a merger and acquisition activity within the electronics and automotive technology sectors, as Voxx International Corp becomes a wholly-owned subsidiary of Gentex Corporation.

Comparison to Industry Standards

• Mergers and acquisitions are common in the technology sector as companies seek to expand their product offerings, market share, or technological capabilities.
• The valuation of $7.50 per share would need to be compared against industry averages for similar companies to determine if it was a fair price.
• Gentex Corporation is a major supplier of automatic-dimming mirrors and electronics for the automotive industry, and this acquisition likely aims to diversify their product portfolio.

Stakeholder Impact

• Shareholders received $7.50 per share as a result of the merger.
• Employees may experience changes as Voxx integrates into Gentex.

Key Dates

Keywords

Form 4, VOXX International Corp, Ari Shalam, Gentex Corporation, Merger, Class A Common Stock, Class B Common Stock, Beneficial Ownership, Disposition, SERP Restricted Stock Units