Assertio (ASRT) director fully cashed out as $23.50-per-share merger closes
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Assertio Holdings, Inc. director David Matthew Stark disposed of his equity in connection with the company’s merger. A tender offer by Zydus Worldwide DMCC paid $23.50 in cash per share for all outstanding Assertio common stock. Stark’s 11,420 shares of common stock were cancelled and converted into the right to receive this cash amount per share.
Two blocks of stock options covering 5,415 shares at a $9.2565 exercise price and 5,415 shares at a $15.15 exercise price were also cancelled and converted into cash based on the merger formula. Following these transactions, Stark reported zero shares and zero options remaining.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Stark David Matthew
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (Right to Buy) | 5,415 | $0.00 | -- |
| Disposition | Stock Option (Right to Buy) | 5,415 | $0.00 | -- |
| U | Common Stock | 11,420 | $0.00 | -- |
Holdings After Transaction:
Stock Option (Right to Buy) — 0 shares (Direct, null);
Common Stock — 0 shares (Direct, null)
Footnotes (1)
- This Form 4 reports securities disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 13, 2026, by and among Assertio Holdings, Inc. (the "Issuer"), Zydus Worldwide DMCC ("Parent"), Zara Merger Sub Inc., a wholly owned subsidiary of Parent ("Purchaser") and Zydus Pharmaceuticals (USA) Inc., pursuant to which Purchaser completed a tender offer (the "Offer") for all outstanding shares of common stock of the Issuer ("Company Common Stock") at a price of $23.50 per share in cash, without interest (the "Offer Price"), and thereafter merged with and into the Issuer, with the Issuer continuing as the surviving corporation and a wholly owned subsidiary of Parent (the "Merger"), effective as of June 16, 2026 (the "Effective Time"). At the Effective Time, each issued and outstanding share of Company Common Stock was cancelled and converted into the right [continues to Footnote 2] [continues from Footnote 1] to receive the Offer Price, less any applicable withholding taxes. Pursuant to the Merger Agreement, each restricted stock unit of the Issuer (each, a "Company RSU") that was outstanding but unvested immediately prior to the Effective Time became fully vested as of immediately prior to the Effective Time and, at the Effective Time, each outstanding Company RSU was cancelled and converted into the right to receive a cash payment, less any applicable withholding taxes, equal to the Offer Price. Pursuant to the Merger Agreement, each option to purchase shares of Company Common Stock (each, a "Company Stock Option") that was outstanding immediately prior to the Effective Time, whether vested or unvested, with an exercise price per share less than the Offer Price, was cancelled at the Effective Time and converted into the right to receive a cash payment, less any applicable withholding taxes, equal to the product of (A) the excess of the Offer Price over the exercise price payable per share of Company Common Stock under such Company Stock Option, multiplied by (B) the total number of shares of Company Common Stock subject to such Company Stock Option. Each Company Stock Option with an exercise price per share equal to or greater than the Offer Price was cancelled at the Effective Time without any cash payment in respect thereof.
Key Figures
Tender offer price: $23.50 per share
Common shares disposed: 11,420 shares
Option grant 1 size: 5,415 options
+4 more
7 metrics
Tender offer price
$23.50 per share
Cash consideration for each share of Assertio common stock
Common shares disposed
11,420 shares
Assertio common stock held by Stark cancelled for cash
Option grant 1 size
5,415 options
Stock options with a $9.2565 exercise price cancelled for cash
Option grant 1 strike
$9.2565 per share
Exercise price for 5,415-stock-option grant
Option grant 2 size
5,415 options
Stock options with a $15.15 exercise price cancelled for cash
Option grant 2 strike
$15.15 per share
Exercise price for second 5,415-stock-option grant
Post-transaction holdings
0 shares, 0 options
Stark’s reported position after merger-related dispositions
Key Terms
Agreement and Plan of Merger, tender offer, Offer Price, restricted stock unit, +2 more
6 terms
Agreement and Plan of Merger regulatory
"reports securities disposed of pursuant to the Agreement and Plan of Merger"
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.
tender offer financial
"Purchaser completed a tender offer (the "Offer") for all outstanding shares"
A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.
Offer Price financial
"Company Common Stock at a price of $23.50 per share in cash, without interest (the "Offer Price")"
The offer price is the amount per share that a company or underwriter sets when selling new stock or bonds to investors, like the price tag on an item in a store. It matters because it determines how much investors must pay, shapes the initial market value of the security, and influences whether demand will be strong or weak — which affects early trading performance and potential returns.
restricted stock unit financial
"each restricted stock unit of the Issuer (each, a "Company RSU")"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Company Stock Option financial
"each option to purchase shares of Company Common Stock (each, a "Company Stock Option")"
withholding taxes financial
"converted into the right to receive a cash payment, less any applicable withholding taxes"
Withholding taxes are amounts a payer or government takes out of payments — such as wages, interest, or dividends — before the recipient gets the money, functioning like a cashier keeping part of a bill to pay taxes on your behalf. For investors this matters because it reduces the cash they actually receive, affects net returns and yield calculations, and may require additional paperwork or treaty claims to recover or offset the withheld amount against final tax bills.
FAQ
What does the ASRT Form 4 filed by director David Matthew Stark show?
The Form 4 shows David Matthew Stark disposed of all his Assertio Holdings, Inc. equity as part of a merger. His common shares and stock options were cancelled and converted into cash under a tender offer paying $23.50 per share.
What happened to David Matthew Stark’s Assertio (ASRT) stock options in the merger?
Two stock option grants covering 5,415 shares each were cancelled and converted into cash. The cash payment was calculated as the $23.50 offer price minus each option’s exercise price, multiplied by the number of underlying shares, subject to withholding taxes.
Was David Matthew Stark’s Assertio (ASRT) disposition an open‑market sale?
No, the disposition was not an open‑market sale. The Form 4 describes a tender-offer disposition and issuer-related option cancellations, all executed under a merger agreement rather than through open-market trading on an exchange.