[144] ADVANCE AUTO PARTS INC SEC Filing

Rhea-AI Filing Summary

Form 4 filing overview: President and Director Richard W. Main reported the final disposition of all 223,243 shares of Enterprise Bancorp, Inc. (EBTC) common stock and the cancellation of multiple stock-option grants on 01 July 2025.

Key transaction details

• Equity conversion: Each Enterprise share was converted into $2.00 cash plus 0.60 shares of Independent Bank Corp. ("Independent") under the December 8, 2024 Merger Agreement.
• Restricted-stock vesting: 2,147 unvested restricted shares automatically vested at the merger’s effective time; these shares were withheld (Code F) at $39.64 to satisfy tax obligations.
• Total disposition: Main reported a Code D transaction for 223,243 shares, reducing direct EBTC ownership to 0.
• Options settlement: Seven option grants (exercise prices ranging from $21.86 to $38.58) covering 8,944 shares were cashed out; no derivative securities remain.

Interpretation: The filing confirms consummation of the Enterprise-Independent merger and the automatic cash/share conversion for insiders. No open-market sales occurred; the dispositions reflect mandatory treatment at closing. Following these actions, Main no longer has a reportable ownership position in EBTC.

Insights

Financial Analyst

TL;DR: Filing signals merger close; insider's shares and options converted to cash/INDB equity—no incremental market impact on EBTC.

The Code D disposition of 223,243 shares and cash settlement of 8,944 options result from the previously announced merger with Independent Bank Corp. Rather than elective selling, the transactions are mechanical, using the agreed $2 cash plus 0.60 INDB share conversion rate and option cash‐out formula. Because the economics were embedded in the merger terms and likely priced in, the disclosure is largely housekeeping. Investors gain confirmation that restricted shares vested and taxes were covered at $39.64, implying an enterprise equity value roughly consistent with prior deal metrics. Impact on EBTC trading is negligible as the listing will be absorbed into INDB once the share exchange completes.

M&A Specialist

TL;DR: Insider Form 4 validates full execution of merger conversion mechanics—supportive evidence that deal closed on schedule.

The footnotes mirror standard change-of-control provisions: automatic vesting of unvested equity and cash-out of underwater or in-the-money options based on "Per Share Cash Equivalent Consideration." The absence of residual EBTC holdings aligns with statutory merger completion, eliminating potential insider conflicts post-close. From a corporate-governance perspective, this fulfils Rule 16(a) obligations and provides transparency on consideration delivered to senior leadership. No red flags emerge regarding unusual pricing or selective benefits; terms follow the public merger agreement dated 08 Dec 2024.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Fidelity Brokerage Services LLC 900 Salem Street Smithfield RI 02917	5461	270652.07	59925637	07/01/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	06/30/2025	Compensation	Issuer			5461	06/30/2025	Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)