Cyrus Madon of Brookfield Business Corp (BBU) disposes units in court-approved exchange
Rhea-AI Filing Summary
Brookfield Business Corp Executive Chairman Cyrus Madon reported issuer dispositions tied to a corporate reorganization. On March 27, 2026, he disposed of 45,815 Class A exchangeable subordinate voting shares and 91,630 non-voting limited partnership units at $0.00 per security, leaving no remaining holdings in these instruments.
According to a court-approved plan of arrangement under the Business Corporations Act (British Columbia), holders of these units and exchangeable shares received class A subordinated voting shares of Brookfield Business Corporation on a one-for-one basis as part of a broader restructuring in which related entities became subsidiaries of the new corporation.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 91,630 shares
Net Sell
2 txns
Insider
Madon Cyrus
Role
Executive Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Exchangeable Subordinate Voting Shares | 45,815 | $0.00 | $0.00 |
| Disposition | Non-Voting Limited Partnership Units | 91,630 | $0.00 | $0.00 |
Holdings After Transaction:
Class A Exchangeable Subordinate Voting Shares — 0 shares (Direct);
Non-Voting Limited Partnership Units — 0 shares (Direct)
Footnotes (2)
- F1. 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.
- F2. 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: 45,815 shares at $0.00
Partnership units disposed: 91,630 units at $0.00
Post-transaction holdings in these securities: 0 shares/units
+2 more
5 metrics
Exchangeable shares disposed
45,815 shares at $0.00
Class A exchangeable subordinate voting shares, March 27, 2026
Partnership units disposed
91,630 units at $0.00
Non-voting limited partnership units, March 27, 2026
Post-transaction holdings in these securities
0 shares/units
Total shares following transaction for both securities
Exchange ratio
1:1 share exchange
BBU units and BBHC exchangeable shares to class A subordinated voting shares
Arrangement section
Section 288
Business Corporations Act (British Columbia) governing the plan of arrangement
Key Terms
court approved plan of arrangement, non-voting limited partnership units, Class A exchangeable subordinate voting shares, class A subordinated voting shares, +2 more
6 terms
court approved plan of arrangement regulatory
"completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia)"
non-voting limited partnership units financial
"holders of non-voting limited partnership units of BBU (the "BBU Units")"
Business Corporations Act (British Columbia) regulatory
"plan of arrangement 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.
disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Brookfield Business Corp (BBU) disclose for Cyrus Madon?
Brookfield Business Corp disclosed that Executive Chairman Cyrus Madon reported issuer dispositions of 45,815 Class A exchangeable subordinate voting shares and 91,630 non-voting limited partnership units at $0.00 per security, all executed on March 27, 2026 under a court-approved corporate arrangement.
Was Cyrus Madon’s Form 4 transaction in BBU an open-market sale?
No, the Form 4 describes issuer dispositions at $0.00 per security, not open-market sales. The transactions occurred pursuant to a court-approved plan of arrangement, where existing units and exchangeable shares were exchanged into class A subordinated voting shares of the reorganized corporation.
How were Brookfield Business Partners L.P. units treated in the arrangement involving BBU?
Non-voting limited partnership units of Brookfield Business Partners L.P. and class A exchangeable subordinate voting shares were exchanged. Under the arrangement, each such unit or exchangeable share was exchanged for one class A subordinated voting share of Brookfield Business Corporation, helping consolidate ownership into the new corporate structure.
Did Cyrus Madon retain any derivative positions after this Brookfield Business Corp filing?
The filing’s derivative summary shows no remaining derivative positions after the reported transactions. The 45,815 exchangeable shares and their underlying limited partnership units, along with 91,630 non-voting limited partnership units, were fully disposed of to the issuer under the court-approved arrangement.