Atkore completes Prysmian merger at $95 per share
Atkore Inc. completed its merger with Prysmian S.p.A. on October 19, 2026, with Atkore surviving as Prysmian’s wholly owned subsidiary.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Form Type
4
Rhea-AI Filing Summary
Atkore Inc. completed its merger with Prysmian S.p.A. on October 19, 2026, with Atkore surviving as Prysmian’s wholly owned subsidiary. The merger consideration was $95.00 in cash per outstanding common share, without interest, except as provided in the merger agreement.
President and CEO William E. Waltz Jr. reported that 67,970 shares underlying unvested PSUs became earned in connection with the merger. The reported transactions also included the disposal of 191,623 shares at the $95.00 merger consideration. Outstanding RSUs and PSUs that became earned were canceled and converted into cash payments. His 219,538 options at $25.91 were canceled and converted into a right to a cash payment based on the excess, if any, of the merger consideration over the exercise price. Options for 19,027 shares at $105.94 and 23,122 shares at $101.66 were canceled for no consideration.
Shares held by a trust for which Waltz’s spouse is the beneficiary were separately reported as disposed: 36,836 shares at $95.00 per share, with a reported post-transaction balance of zero. Waltz disclaimed beneficial ownership except to the extent of his pecuniary interest.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
Waltz William E Jr.
Role
President and CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Options (right to buy) F7 | 219,538 | -- | -- |
| Disposition | Stock Options (right to buy) F8 | 19,027 | -- | -- |
| Disposition | Stock Options (right to buy) F8 | 23,122 | -- | -- |
| Grant/Award | Common Stock F1, F2 | 67,969.789 | $0.00 | $0.00 |
| Disposition | Common Stock F1, F3, F4, F5 | 191,622.6478 | $95.00 | $18.20M |
| Disposition | Common Stock F1, F3, F6 | 36,836 | $95.00 | $3.50M |
Holdings After Transaction:
Stock Options (right to buy) — 0 contracts (Direct);
Common Stock — 0 shares (Direct);
Common Stock — 0 shares (Indirect, By Trust)
Footnotes (8)
- F1. On October 19, 2026 (the "Closing Date"), pursuant to the Agreement and Plan of Merger, dated August 2, 2026 (the "Merger Agreement"), by and among Atkore Inc. ("Atkore" or the "Company"), Prysmian S.p.A., a company organized under the laws of the Republic of Italy ("Buyer"), Trinity Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Buyer ("Merger Sub"), and, solely as provided in certain sections of the Merger Agreement, Prysmian Cables and Systems USA, LLC, a Delaware limited liability company, Merger Sub merged with and into the Company (the "Merger"), with the Company surviving the Merger as a wholly owned subsidiary of Buyer (the "Surviving Corporation").
- F2. Represents the number of shares of Common Stock underlying unvested performance restricted stock units (a "PSU"), that became earned in connection with the Merger (including any amounts accrued for dividend equivalent units), determined in accordance with the terms of each such PSU.
- F3. At the effective time of the Merger (the "Effective Time"), each share of common stock of Atkore, par value $0.01 per share ("Common Stock") issued and outstanding immediately prior to the Effective Time, was (except as otherwise provided in the Merger Agreement) converted into the right to receive $95.00 in cash, without interest (the "Merger Consideration").
- F4. Includes restricted stock units ("RSUs") and any amounts accrued for dividend equivalent units thereon. Under the Merger Agreement, at the Effective Time, each outstanding RSU, whether vested or unvested, was deemed fully vested and canceled and converted into the right to receive a cash payment from the Surviving Corporation equal to the product of (A) the Merger Consideration and (B) the total number of shares of Common Stock underlying such RSU.
- F5. Includes PSUs and any amounts accrued for dividend equivalent units thereon. Under the Merger Agreement, at the Effective Time, each outstanding PSU that became earned in connection with the Merger was canceled and converted into the right to receive a cash payment from the Surviving Corporation equal to the product of (A) the Merger Consideration and (B) the total number of shares of Common Stock underlying such PSU, as determined in accordance with the terms of each such PSU.
- F6. Securities held directly by a trust for which the reporting person's spouse is the beneficiary. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed to be an admission that the reporting person is, for purposes of Section 16 or any other purpose, the beneficial owner of such securities.
- F7. Under the Merger Agreement, at the Effective Time, each outstanding option to purchase shares of Common Stock ("Option") was canceled and converted into the right to receive a cash payment from the Surviving Corporation equal to the product obtained by multiplying (A) the excess, if any, of the Merger Consideration over the exercise price per share of such Option by (B) the total number of shares of Common Stock underlying such Option.
- F8. Under the Merger Agreement, at the Effective Time each outstanding option to purchase shares of Common Stock ("Option") that had an exercise price per share that was greater than or equal to the Merger Consideration was canceled for no consideration.
Key Figures
Merger consideration: $95.00 per share
Shares underlying unvested PSUs earned: 67,970 shares
Shares disposed: 191,623 shares
+4 more
7 metrics
Merger consideration
$95.00 per share
Cash consideration at the Effective Time
Shares underlying unvested PSUs earned
67,970 shares
Earned in connection with the merger on October 19, 2026
Shares disposed
191,623 shares
$95.00 merger consideration per share
Shares held by trust
36,836 shares; 0 shares following the transaction
Trust for which Waltz’s spouse was the beneficiary
Options canceled; exercise price
219,538 options; $25.91 per share
Converted into a right to a cash payment based on the excess, if any, over the $95.00 merger consideration
Options canceled without consideration; exercise price
19,027 options; $105.94 per share
Canceled at the Effective Time
Options canceled without consideration; exercise price
23,122 options; $101.66 per share
Canceled at the Effective Time
Key Terms
Merger Consideration, Effective Time, performance restricted stock units, restricted stock units, +1 more
5 terms
Merger Consideration financial
"the right to receive $95.00 in cash (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.
Effective Time financial
"At the effective time of the Merger (the “Effective Time”)"
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.
performance restricted stock units financial
"unvested performance restricted stock units (a “PSU”)"
Performance restricted stock units (PRSUs) are promises to deliver company shares to employees or executives only if the business meets specific performance targets and any time-based holding rules. Think of them as a bonus that converts into stock only after set goals are reached, so investors watch PRSUs for two reasons: they can dilute existing shares if paid out, and they signal how closely management’s pay is tied to company performance.
restricted stock units financial
"each outstanding RSU, whether vested or unvested"
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.
dividend equivalent units financial
"amounts accrued for dividend equivalent units"
Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What happened to ATKR President and CEO William E. Waltz Jr.’s stock options?
On October 19, 2026, 219,538 options with a $25.91 exercise price were canceled and converted into a right to a cash payment based on the excess, if any, of the $95.00 merger consideration over the exercise price. Options for 19,027 shares at $105.94 and 23,122 shares at $101.66 were canceled for no consideration.
AI-generated analysis. How Rhea-AI works. Not financial advice.
