Cross Country CFO equity converted at $13.25 per share
Cross Country Healthcare Inc. Chief Financial Officer William J. Burns reported equity changes in connection with a merger in which the company became a wholly owned subsidiary of KL Criss Cross Intermediate, LLC.
Rhea-AI Filing Summary
Cross Country Healthcare Inc. Chief Financial Officer William J. Burns reported equity changes in connection with a merger in which the company became a wholly owned subsidiary of KL Criss Cross Intermediate, LLC. At the merger’s Effective Time, 336,438 common shares and 104,157 shares underlying performance-based restricted stock awards were disposed to the issuer, each automatically converted into the right to receive $13.25 in cash per share. The 104,157 performance-based awards first vested at target levels and were recorded as an acquisition at no cost before being cancelled for the same cash consideration.
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Insights
Analyzing...
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Burns William J.
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock F1, F2 | 336,438 | $13.25 | $4.46M |
| Grant/Award | Common Stock F3 | 104,157 | $0.00 | $0.00 |
| Disposition | Common Stock F1, F2, F3 | 104,157 | $13.25 | $1.38M |
Holdings After Transaction:
Common Stock — 0 shares (Direct)
Footnotes (3)
- F1. Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of May 6, 2026, by and among Cross Country Healthcare, Inc., a Delaware corporation (the "Issuer"), KL Criss Cross Intermediate, LLC, a Delaware limited liability company ("Parent"), and KL Criss Cross Merger Sub, Inc., a Delaware corporation and a wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent, (continued in footnote 2)
- F2. at the effective time of the Merger (the "Effective Time"), each (i) share of Issuer common stock ("Common Stock") issued and outstanding immediately prior to the Effective Time was automatically converted into the right to receive $13.25 in cash (the "Merger Consideration") and (ii) each restricted stock award with respect to shares of Common Stock outstanding immediately prior to the Effective Time was fully vested, cancelled and converted into the right to receive an amount in cash equal to the number of shares of Common Stock subject to such award immediately prior to the Effective Time multiplied by the Merger Consideration.
- F3. At the Effective Time, each performance-based restricted stock award with respect to shares of Common Stock outstanding immediately prior to the Effective Time was fully vested (at target levels) and cancelled and converted into the right to receive an amount in cash equal to the number of shares of Common Stock subject to such award (at target) immediately prior to the Effective Time multiplied by the Merger Consideration.
Key Figures
Common shares disposed to issuer: 336,438 shares
Performance-based awards vested: 104,157 shares
Performance-based shares disposed: 104,157 shares
+1 more
4 metrics
Common shares disposed to issuer
336,438 shares
Disposition of common stock at $13.25 per share in connection with merger
Performance-based awards vested
104,157 shares
Performance-based restricted stock awards vested at target and recorded as acquisition at $0.00
Performance-based shares disposed
104,157 shares
Cancellation and disposition to issuer at $13.25 per share at the Effective Time
Merger cash consideration
$13.25 per share
Each share of issuer common stock converted into cash merger consideration
Key Terms
Agreement and Plan of Merger, Merger Consideration, Effective Time, performance-based restricted stock award
4 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger (the "Merger Agreement")"
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.
Merger Consideration financial
"converted into the right to receive $13.25 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 regulatory
"At the effective time of the Merger (the "Effective Time"), each share..."
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-based restricted stock award financial
"each performance-based restricted stock award with respect to shares of Common Stock"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider stock transactions did Cross Country Healthcare (CCRN) CFO William J. Burns report?
William J. Burns reported dispositions of 336,438 common shares and 104,157 shares underlying performance-based restricted stock awards, all occurring at the merger’s Effective Time. Each affected share was converted into the right to receive $13.25 in cash from the acquiring parent entity.
What happened to Cross Country Healthcare (CCRN) restricted stock awards at the merger’s Effective Time?
Each restricted stock award became fully vested, then was cancelled and converted to cash at closing. Holders received an amount equal to the number of shares subject to the award multiplied by the $13.25 merger consideration, replacing their equity position with a cash entitlement.
How were Cross Country Healthcare (CCRN) performance-based restricted stock awards treated in the merger?
Performance-based restricted stock awards vested at target levels at the Effective Time, then were fully cancelled. Each award was converted into cash equal to the target number of underlying shares multiplied by the $13.25 merger consideration, eliminating those equity awards in exchange for cash value.
Who acquired Cross Country Healthcare Inc. (CCRN) in this merger transaction?
Cross Country Healthcare became a wholly owned subsidiary of KL Criss Cross Intermediate, LLC. This occurred when KL Criss Cross Merger Sub, Inc. merged with and into Cross Country Healthcare, with the issuer surviving the merger as a subsidiary of the private parent entity.
AI-generated analysis. How Rhea-AI works. Not financial advice.
