Allegiant Travel details Bricker stake after merger
Allegiant Travel Company filed an initial ownership report for director Jude Bricker following its merger with Sun Country Airlines.
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Form Type
3
Rhea-AI Filing Summary
Allegiant Travel Company filed an initial ownership report for director Jude Bricker following its merger with Sun Country Airlines. The filing shows Bricker directly holds 92,043 shares of Allegiant common stock and stock options covering 290,291 shares at an exercise price of $25.78 per share, expiring on November 21, 2028.
Under the merger terms, each share of Sun Country common stock was converted into $4.10 in cash plus 0.1557 Allegiant shares. Bricker’s Sun Country equity awards were converted into Allegiant restricted stock units and performance-based units, which became fully vested at closing and were converted into 21,563 and 60,652 Allegiant shares, respectively.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Bricker Jude
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (right to buy) | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 290,291 contracts (Direct);
Common Stock — 92,043 shares (Direct)
Footnotes (7)
- F1. On May 13, 2026, pursuant to the Agreement and Plan of Merger dated as of January 11, 2026 (the "Merger Agreement"), by andamong the Issuer, Sun Country Airlines Holdings, Inc., ("Sun Country"), Mirage Merger Sub, Inc. ("Merger "Merger Sub 2"), a directwholly owned subsidiary of the Issuer, (i) Merger Sub 1 merged with and into Sun Country (the "First Merger"), with Sun Countrysurviving the First Merger as a direct wholly owned subsidiary of the Issuer and (ii) immediately after the First Merger, Sun Countrymerged with and into Merger Sub 2, with Merger Sub 2 surviving as a direct, wholly owned subsidiary of the Issuer (the "SecondMerger" and, together with the First Merger, the "Mergers").
- F2. Pursuant to the Merger Agreement, as of immediately prior to the effective time of the First Merger (the "First Effective Time"), eachshare of Sun Country's common stock, par value $0.01 per share ("Sun Country Common Stock"), was converted into the right toreceive (i) $4.10 in cash, without interest and (ii) 0.1557 shares of the Issuer's common stock, par value $0.001 per share ("IssuerCommon Stock") (collectively, the "Merger Consideration"). The reported amount includes 9,828 shares of Issuer Common Stockheld by the reporting person.
- F3. As of immediately prior to the First Effective Time, each outstanding Sun Country restricted stock unit award ("Sun Country RSUAward") previously granted to the reporting person was assumed by the Issuer and converted into an Issuer restricted stock unit award("Issuer RSU Award") covering a number of shares of Issuer Common Stock equal to the product of (x) the number of shares of SunCountry Common Stock underlying the related Sun Country RSU Award and (y) the quotient obtained by dividing the MergerConsideration Closing Value by the Parent Measurement Price (each as defined in the Merger Agreement), rounded down to thenearest whole share.
- F4. The Issuer RSU Awards continue to have the same terms and conditions as the related Sun Country RSU Awards, including anydouble-trigger vesting protections. Upon the reporting person's termination of employment upon consummation of the Mergers, theIssuer RSU Awards held by the reporting person became fully vested and were converted into 21,563 shares of Issuer Common Stock.
- F5. As of immediately prior to the First Effective Time, each outstanding Sun Country performance-based restricted stock unit award("Sun Country PRSU Award") previously granted to the reporting person was assumed by the Issuer and converted into an Issuertime-based restricted stock unit award ("Issuer PRSU Award") covering a number of shares of Issuer Common Stock equal to thequotient obtained by dividing (i) the product of (A) the number of shares of Sun Country Common Stock underlying the related SunCountry PRSU Award (which was deemed to be equal to 125% of the target number of Sun Country PRSU Awards granted) and (B)the Merger Consideration Closing Value, by (ii) the Parent Measurement Price, rounded down to the nearest whole share.
- F6. The Issuer PRSU Awards continue to have the same terms and conditions as the related Sun Country PRSU Awards, including anydouble-trigger vesting protections, provided that there are no longer any performance-based vesting conditions, and the Issuer PRSUAward is a time-vesting award eligible to vest on the last day of the performance period applicable to the Sun Country PRSU Award.Upon the reporting person's termination of employment upon consummation of the Mergers, the Issuer PRSU Awards held by thereporting person became fully vested and were converted into 60,652 shares of Issuer Common Stock.
- F7. As of the First Effective Time, all outstanding stock options to purchase shares of Sun Country Common Stock granted to thereporting person, whether vested or unvested and regardless of exercise price, were automatically converted into stock options for theIssuer (each a "Converted Option"). Each Converted Option covers a number of shares of Issuer Common Stock equal to the productof (x) the number of shares of Sun Country Common Stock subject to the original grant and (y) the quotient obtained by dividing theMerger Consideration Closing Value by the Parent Measurement Price, rounded down to the nearest whole share, with acorresponding adjusted exercise price equal to the product of (A) the original exercise price per share and (B) the quotient obtainedby dividing the Parent Measurement Price by the Merger Consideration Closing Value, rounded up to the nearest whole cent andotherwise remains subject to the same terms and conditions as the original grant.
Key Figures
Direct common shares: 92,043 shares
Stock options: 290,291 shares
Option exercise price: $25.78 per share
+5 more
8 metrics
Direct common shares
92,043 shares
Allegiant common stock held directly after merger
Stock options
290,291 shares
Underlying Allegiant shares subject to options held directly
Option exercise price
$25.78 per share
Exercise price for Allegiant stock options expiring November 21, 2028
Option expiration
November 21, 2028
Expiration date for Allegiant stock options
RSU conversion shares
21,563 shares
Allegiant shares from vested RSU awards at merger closing
PRSU conversion shares
60,652 shares
Allegiant shares from vested performance-based RSU awards
Cash per Sun Country share
$4.10
Cash component of merger consideration per Sun Country share
Share exchange ratio
0.1557 shares
Allegiant shares received per Sun Country share in merger
Key Terms
Agreement and Plan of Merger, Merger Consideration, restricted stock unit award, performance-based restricted stock unit award, +2 more
6 terms
Agreement and Plan of Merger regulatory
"On May 13, 2026, pursuant to the Agreement and Plan of Merger dated as of January 11, 2026..."
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.
Merger Consideration financial
"was converted into the right to receive (i) $4.10 in cash... (collectively, the "Merger Consideration")."
Merger consideration is the total payment a company or buyer offers to shareholders of a target company in exchange for combining the two businesses, and can include cash, shares in the surviving company, debt assumption, or a mix of these. Investors care because the form and amount affect the deal’s value, tax consequences, immediate cash received versus future ownership, and the risk and upside of holding new shares — similar to choosing between cash now or stock that could grow later.
restricted stock unit award financial
"each outstanding Sun Country restricted stock unit award ("Sun Country RSU Award") previously granted..."
A restricted stock unit award is a promise by a company to give an employee a specified number of company shares at a future date if certain conditions are met, such as staying with the company or hitting performance goals. For investors, these awards matter because they can increase the total number of shares outstanding when converted, diluting existing holders, and they align employees’ incentives with shareholders’ interests much like giving a rising bonus that becomes real only after conditions are satisfied.
performance-based restricted stock unit award financial
"each outstanding Sun Country performance-based restricted stock unit award ("Sun Country PRSU Award")..."
A performance-based restricted stock unit award is a promise to give company shares to an employee or executive only if the business hits specific targets over a set period. Think of it as a conditional prize that vests like a savings plan: if agreed goals (such as revenue, profit, or stock performance) are met, the recipient receives the shares; if not, they get nothing. Investors pay attention because these awards align management incentives with company results and can affect share count, future earnings and executive behavior.
double-trigger vesting protections financial
"The Issuer RSU Awards continue to have the same terms... including any double-trigger vesting protections."
Converted Option financial
"were automatically converted into stock options for the Issuer (each a "Converted Option")."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What does Jude Bricker’s Form 3 for Allegiant Travel (ALGT) report?
The Form 3 reports Jude Bricker’s initial ownership in Allegiant common stock and stock options following the Sun Country merger. It details his direct share holdings, option grants, and how his prior Sun Country equity awards were converted into Allegiant equity.
What stock options does Jude Bricker hold in Allegiant Travel (ALGT)?
Bricker holds stock options to buy 290,291 Allegiant common shares at an exercise price of $25.78 per share. These options expire on November 21, 2028 and were converted from his prior Sun Country options under the merger’s agreed conversion mechanics.
What happened to Jude Bricker’s Sun Country RSU and PRSU awards in the merger?
His Sun Country RSU awards became Allegiant RSU awards, which then vested and converted into 21,563 Allegiant shares upon his termination at closing. His performance-based RSUs converted into time-based Allegiant awards that fully vested into 60,652 Allegiant shares at the merger’s consummation.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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