Why were John Stewart Lacey’s BBU-related securities disposed of on March 27, 2026?

The dispositions occurred under a court approved plan of arrangement completed on March 27, 2026, where holders of non-voting limited partnership units and Class A exchangeable subordinate voting shares exchanged them one-for-one for Class A subordinated voting shares of Brookfield Business Corporation.

Was John Stewart Lacey’s Form 4 related to open-market buying or selling of BBU shares?

No, the Form 4 describes issuer-directed dispositions at $0.00 per security tied to a court approved plan of arrangement, not open-market purchases or sales. The transactions reflect a structural exchange of securities into Class A subordinated voting shares of Brookfield Business Corporation.

Brookfield Business Corp (BBU) director logs issuer dispositions in court-approved share exchange

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Brookfield Business Corp director John Stewart Lacey reported issuer-directed dispositions tied to a corporate reorganization. On March 27, 2026, he disposed of 9,350 Class A exchangeable subordinate voting shares and 18,700 non-voting limited partnership units at a reported price of $0.00 per security, with zero of each remaining after the transactions.

Footnotes explain these moves occurred under a court approved plan of arrangement dated November 6, 2025, in which holders of non-voting limited partnership units of Brookfield Business Partners L.P. and Class A exchangeable subordinate voting shares of Brookfield Business Holdings Corporation received Class A subordinated voting shares of Brookfield Business Corporation on a one-for-one basis, and Brookfield Business Partners L.P. and Brookfield Business Holdings Corporation became its subsidiaries.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider LACEY JOHN STEWART

Role Director

Type	Security	Shares	Price	Value
Disposition	Class A Exchangeable Subordinate Voting Shares	9,350	$0.00	--
Disposition	Non-Voting Limited Partnership Units	18,700	$0.00	--

Holdings After Transaction: Class A Exchangeable Subordinate Voting Shares — 0 shares (Direct); Non-Voting Limited Partnership Units — 0 shares (Direct)

Footnotes (1)

On March 27, 2026, pursuant to an arrangement agreement dated as of November 6, 2025, Brookfield Business Partners L.P. ("BBU"), Brookfield Business Holdings Corporation (formerly Brookfield Business Corporation) ("BBHC") and Brookfield Business Corporation (formerly 1559985 B.C. Ltd.) (the "Corporation") completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"), pursuant to which, among other things, holders of non-voting limited partnership units of BBU (the "BBU Units") and holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares") received class A subordinated voting shares of the Corporation in exchange for their BBU Units and BBHC Exchangeable Shares on a one-for-one basis. As a result of the Arrangement, BBU and BBHC became subsidiaries of the Corporation. This Form 4 represents BBU Units and BBHC Exchangeable Shares transacted pursuant to the Arrangement. Represents BBHC Exchangeable Shares which, prior to the Arrangement, were exchangeable into BBU Units on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BBU). Pursuant to the Arrangement, the BBHC Exchangeable Shares were exchanged for class A subordinated voting shares of the Corporation on a one-for-one basis.

Key Figures

Exchangeable shares disposed: 9,350 shares Partnership units disposed: 18,700 units Reported disposition price: $0.00 per security +3 more

6 metrics

Exchangeable shares disposed 9,350 shares Class A exchangeable subordinate voting shares disposed on March 27, 2026

Partnership units disposed 18,700 units Non-voting limited partnership units disposed on March 27, 2026

Reported disposition price $0.00 per security Price per share/unit for both dispositions

Arrangement agreement date November 6, 2025 Date of arrangement agreement referenced in footnote

Arrangement completion date March 27, 2026 Date court approved plan of arrangement was completed

Exchange ratio 1-for-1 BBU units and BBHC exchangeable shares into Corporation Class A subordinated voting shares

Key Terms

court approved plan of arrangement, non-voting limited partnership units, class A exchangeable subordinate voting shares, class A subordinated voting shares, +1 more

5 terms

court approved plan of arrangement regulatory

"completed a court approved plan of arrangement under section 288"

non-voting limited partnership units financial

"holders of non-voting limited partnership units of BBU (the "BBU Units")"

class A exchangeable subordinate voting shares financial

"holders of BBHC's class A exchangeable subordinate voting shares"

class A subordinated voting shares financial

"received class A subordinated voting shares of the Corporation in exchange"

Business Corporations Act (British Columbia) regulatory

"under section 288 of the Business Corporations Act (British Columbia)"

A provincial law that sets the rules for forming, managing and winding up corporations registered in British Columbia, including how directors and shareholders must act, what information companies must disclose, and how disputes are handled. Investors care because it provides a predictable rulebook — like referees and play-by-play rules in a game — that protects shareholder rights, clarifies management duties and disclosure obligations, and therefore affects a company’s legal risk and investment value.

Form 4 Insider Transactions: What Each Field Means →

03/31/2026 - 04:19 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

LACEY JOHN STEWART

(Last)

(First)

(Middle)

C/O BROOKFIELD BUSINESS PARTNERS L.P.

73 FRONT STREET, FIFTH FLOOR

(Street)

HAMILTON

HM 12

(City)

(State)

(Zip)

BERMUDA

(Country)

2. Issuer Name and Ticker or Trading Symbol
Brookfield Business Corp [ BBU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Voting Limited Partnership Units	03/27/2026		D		18,700	D	⁽¹⁾	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Exchangeable Subordinate Voting Shares⁽²⁾	⁽¹⁾	03/27/2026		D			9,350	⁽¹⁾	⁽¹⁾	Non-Voting Limited Partnership Units	9,350	⁽¹⁾	0	D

Explanation of Responses:

1. On March 27, 2026, pursuant to an arrangement agreement dated as of November 6, 2025, Brookfield Business Partners L.P. ("BBU"), Brookfield Business Holdings Corporation (formerly Brookfield Business Corporation) ("BBHC") and Brookfield Business Corporation (formerly 1559985 B.C. Ltd.) (the "Corporation") completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"), pursuant to which, among other things, holders of non-voting limited partnership units of BBU (the "BBU Units") and holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares") received class A subordinated voting shares of the Corporation in exchange for their BBU Units and BBHC Exchangeable Shares on a one-for-one basis. As a result of the Arrangement, BBU and BBHC became subsidiaries of the Corporation. This Form 4 represents BBU Units and BBHC Exchangeable Shares transacted pursuant to the Arrangement.

2. Represents BBHC Exchangeable Shares which, prior to the Arrangement, were exchangeable into BBU Units on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BBU). Pursuant to the Arrangement, the BBHC Exchangeable Shares were exchanged for class A subordinated voting shares of the Corporation on a one-for-one basis.

	/s/ Arin Jonathan Silber, Attorney-in-Fact	03/31/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Brookfield Business Corp (BBU) director John Stewart Lacey report?

John Stewart Lacey reported issuer-directed dispositions of 9,350 Class A exchangeable subordinate voting shares and 18,700 non-voting limited partnership units at $0.00 per security, reducing his reported holdings of these securities to zero following the transactions.

How many Brookfield Business Corp exchangeable shares did Lacey dispose of in this Form 4?

He disposed of 9,350 Class A exchangeable subordinate voting shares of Brookfield Business Holdings Corporation at a reported price of $0.00 per share, with footnotes stating these were exchanged one-for-one into Class A subordinated voting shares of Brookfield Business Corporation under the arrangement.

What happened to Brookfield Business Partners L.P. and Brookfield Business Holdings Corporation in the arrangement?

Following the March 27, 2026 arrangement, Brookfield Business Partners L.P. and Brookfield Business Holdings Corporation became subsidiaries of Brookfield Business Corporation, after their non-voting limited partnership units and exchangeable shares were exchanged for Class A subordinated voting shares of Brookfield Business Corporation on a one-for-one basis.

What is the significance of the one-for-one exchange described in the Brookfield Business Corp filing?

The filing states that each non-voting limited partnership unit and each Class A exchangeable subordinate voting share was exchanged for one Class A subordinated voting share of Brookfield Business Corporation, aligning prior securities into a single listed share class through the court approved plan of arrangement.