ABM Industries SEC Filings

GitLab Inc. (NASDAQ: GTLB) has filed a Form 144 disclosing the proposed sale of 1,214 shares of its Class A common stock under Rule 144. The shares, valued at roughly $55,249, account for less than 0.001 % of the company’s approximately 146.1 million shares outstanding, making the transaction immaterial to GitLab’s overall float and market liquidity.

The seller acquired the stock as restricted stock units (RSUs) on 27 June 2025 and intends to execute the sale through Morgan Stanley Smith Barney LLC on or after 2 July 2025. No additional sales by this filer have occurred in the past three months. The notice states that the filer is unaware of any non-public adverse information, suggesting this is a routine liquidity event rather than a signal of strategic change.

Bank of Montreal (BMO) is offering unsecured Senior Medium-Term Notes, Series K, branded “Digital Return Buffer Notes” linked to the S&P 500® Futures Excess Return Index (ticker SPXFP). The product is a two-part payoff structure maturing 2 November 2026 (≈15 months) that caps upside at a fixed 11.80% “Digital Return” while providing a 10% downside buffer.

Key economic terms

• Denomination: US$1,000 minimum, CUSIP 06376EPE6
• Digital Barrier: 100% of the Initial Level; if the Final Level ≥ barrier, investors receive principal plus 11.80% ($1,118)
• Buffer: 90% of Initial Level; losses begin only when the Reference Asset falls >10%
• Downside: Dollar-for-dollar loss beyond the 10% buffer, up to 90% of principal
• No periodic coupons; payment occurs only at maturity
• Pricing Date: 28 July 2025; Settlement: 31 July 2025; Valuation Date: 28 Oct 2026
• Initial estimated value: US$970.30 per $1,000 (≈97.0% of issue price) driven by internal funding and hedging costs
• Distribution: BMOCM acts as sole agent; selling concession up to 2.05%

Risk highlights

• Credit risk: payments depend on BMO’s solvency; the notes are senior unsecured obligations.
• Market risk: if SPXFP declines >10%, principal erodes one-for-one, exposing investors to as much as 90% loss.
• Structural limitations: upside is strictly limited to 11.80% regardless of how much the index rises; investors forgo dividends, collateral interest and total-return benefits.
• Liquidity: no exchange listing; any secondary trading will be on a best-efforts basis through BMOCM and may involve significant bid-ask spreads.
• Valuation gap: initial fair value is ≈$970, implying an immediate 3% economic cost to new buyers.
• Reference-asset nuances: index tracks front-month E-mini S&P 500 futures (excess-return) and is subject to roll yield drag, financing costs and contango effects, which can diverge materially from the spot S&P 500 price return.

Investor profile: Suitable for investors with a firmly bullish or mildly neutral 15-month outlook on U.S. equities who desire buffered downside, are willing to cap gains at 11.80%, and have confidence in BMO’s credit.

Carol Ann Clements has filed an initial Form 3 Statement of Beneficial Ownership following her appointment as Director at ABM Industries. The filing, dated June 28, 2025, discloses her beneficial ownership position as of the event date June 11, 2025.

Key details:

• Currently holds no securities (derivative or non-derivative) beneficially owned in ABM Industries
• Serves as a Director of the company
• Filing is made as an individual reporting person
• Document was signed via power of attorney by David R. Goldman on June 18, 2025

The filing represents standard regulatory compliance under Section 16(a) of the Securities Exchange Act of 1934, requiring directors to disclose their securities ownership upon assuming their position.