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Cyrus Madon of Brookfield Business Corp (BBU) disposes units in court-approved exchange

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

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

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Insider Madon Cyrus
Role Executive Chairman
Type Security Shares Price Value
Disposition Class A Exchangeable Subordinate Voting Shares 45,815 $0.00 --
Disposition Non-Voting Limited Partnership Units 91,630 $0.00 --
Holdings After Transaction: Class A Exchangeable Subordinate Voting Shares — 0 shares (Direct); Non-Voting Limited Partnership Units — 0 shares (Direct)
Footnotes (1)
  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.
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
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")"
Class A exchangeable subordinate voting shares financial
"holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares")"
class A subordinated voting shares financial
"received class A subordinated voting shares of the Corporation in exchange"
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""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
X
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*
Madon Cyrus
(Last)(First)(Middle)
C/O BROOKFIELD BUSINESS PARTNERS L.P.
73 FRONT STREET, FIFTH FLOOR
(Street)
HAMILTONHM 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)
Director10% Owner
XOfficer (give title below)Other (specify below)
Executive Chairman
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Non-Voting Limited Partnership Units03/27/2026D91,630D(1)0D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Class A Exchangeable Subordinate Voting Shares(2)(1)03/27/2026D45,815 (1) (1)Non- Voting Limited Partnership Units45,815(1)0D
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-Fact03/31/2026
** Signature of Reporting PersonDate
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) 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.

What restructuring affected Brookfield Business Corp (BBU) units and exchangeable shares?

A court-approved plan of arrangement under the Business Corporations Act (British Columbia) affected these securities. Holders of non-voting limited partnership units and class A exchangeable subordinate voting shares received class A subordinated voting shares of Brookfield Business Corporation on a one-for-one basis, and related entities became subsidiaries.

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.