AL EVP exits holdings in $65 per share merger
SUMISHO AIR LEASE CORP executive David Beker, EVP of Marketing, reported a complete disposition of his holdings in Air Lease Corporation Class A common stock in connection with a merger.
Rhea-AI Filing Summary
SUMISHO AIR LEASE CORP executive David Beker, EVP of Marketing, reported a complete disposition of his holdings in Air Lease Corporation Class A common stock in connection with a merger. He disposed of 36,408 shares at $65.00 per share when Air Lease merged into a subsidiary of Sumisho Air Lease’s parent and became an indirect wholly owned subsidiary.
At the merger’s effective time, each outstanding Air Lease common share was cancelled and converted into the right to receive $65.00 in cash. The disposed shares include 4,472 unvested restricted stock units that were cancelled and converted into cash awards, which retain the same vesting terms as before the merger. Following the transaction, Beker reported owning zero shares directly.
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Insider Trade Summary
Disposition: 36,408 shares
Disposition
1 txn
Insider
Beker David
Role
EVP, MARKETING
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Air Lease Corporation - Class A Common Stock | 36,408 | $65.00 | $2.37M |
Holdings After Transaction:
Air Lease Corporation - Class A Common Stock — 0 shares (Direct)
Footnotes (2)
- F1. Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), with Sumisho Air Lease Corporation Designated Activity Company, an Irish private limited company ("Parent"), and Takeoff Merger Sub Inc., a Delaware corporation and an indirect wholly owned subsidiary of Parent ("Merger Sub"), Merger Sub merged with and into the Issuer, with the Issuer surviving as an indirect wholly owned subsidiary of Parent (the "Merger"). At the effective time of the Merger (the "Effective Time"), each issued and outstanding share of the Issuer's Class A common stock, par value $0.01 per share ("Common Stock") that was issued and outstanding as of immediately prior to the Effective Time was automatically cancelled, extinguished and converted into the right to receive $65.00 per share in cash, without interest thereon (the "Per Share Price").
- F2. The shares of Common Stock reported as disposed by the reporting person include 4,472 unvested restricted stock units ("RSUs"), which were cancelled and converted into the right to receive an amount in cash (without interest and subject to applicable withholding taxes) equal to the product of the Per Share Price and the total number of unvested RSUs (the "Converted Cash Awards"). The Converted Cash Awards are subject to the same vesting terms and conditions as applied to such RSUs immediately prior to the Effective Time.
Key Figures
Shares disposed: 36,408 shares
Per share merger price: $65.00 per share
Unvested RSUs converted: 4,472 RSUs
+1 more
4 metrics
Shares disposed
36,408 shares
Class A common stock cancelled in merger at $65.00 per share
Per share merger price
$65.00 per share
Cash consideration for each Air Lease common share at effective time
Unvested RSUs converted
4,472 RSUs
Cancelled and converted into cash awards using the $65.00 per share price
Shares after transaction
0 shares
Total Air Lease Class A common stock held directly by David Beker post‑merger
Key Terms
Agreement and Plan of Merger, Effective Time, restricted stock units, Per Share Price
4 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), with Sumisho Air Lease Corporation Designated Activity Company..."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
Effective Time regulatory
"At the effective time of the Merger (the "Effective Time"), each issued and outstanding share..."
The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.
restricted stock units financial
"include 4,472 unvested restricted stock units ("RSUs"), which were cancelled and converted into the right to receive an amount in cash..."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did AL executive David Beker report?
David Beker reported a disposition of 36,408 shares of Air Lease Corporation Class A common stock at $65.00 per share. The shares were cancelled and converted to cash as part of the merger, leaving him with no directly held shares afterward.
How is the AL merger reflected in David Beker’s Form 4 filing?
The filing shows his Air Lease shares were automatically cancelled and converted into the right to receive $65.00 per share in cash at the merger’s effective time. This reflects the completion of the merger and his resulting exit from direct share ownership.
What happened to David Beker’s unvested RSUs in the AL merger?
The dispositioned shares include 4,472 unvested restricted stock units that were cancelled and converted into cash awards. These cash awards equal $65.00 multiplied by the RSU count and remain subject to the same vesting terms and conditions as before the merger.
AI-generated analysis. How Rhea-AI works. Not financial advice.
