Cantaloupe (CTLP) director’s stock and options cashed out at $11.20 merger price
Rhea-AI Filing Summary
Cantaloupe, Inc. director Ian Jiro Harris reported dispositions tied to the company’s merger. On May 8, 2026, blocks of 19,157 and 168,718 shares of common stock were canceled and automatically converted into the right to receive $11.20 in cash per share at the merger’s effective time.
In addition, a non-qualified stock option for 100,000 shares with a per‑share exercise price of $8.02 was canceled in exchange for cash equal to the spread between the $11.20 merger consideration and the option’s exercise price, multiplied by the option’s share count. Following these transactions, this Form 4 shows no remaining common shares or options for Harris.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Harris Ian Jiro
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Non-Qualified Stock Option (Right to Buy) | 100,000 | $0.00 | -- |
| Disposition | Common Stock | 168,718 | $0.00 | -- |
| Disposition | Common Stock | 19,157 | $0.00 | -- |
Holdings After Transaction:
Non-Qualified Stock Option (Right to Buy) — 0 shares (Direct);
Common Stock — 0 shares (Direct)
Footnotes (1)
- This Form 4 reports securities disposed of under the Agreement and Plan of Merger, dated as of June 15, 2025 (the "Merger Agreement"), by and among Cantaloupe, Inc. (the "Company"), 365 Retail Markets, LLC, Catalyst Holdco I, Inc., Catalyst Holdco II, Inc. and Catalyst MergerSub Inc. ("Merger Subsidiary"), under which Merger Subsidiary was merged with and into the Company (the "Merger"), with the Company continuing as the surviving corporation in the Merger. At the effective time of the Merger (the "Effective Time"), each share of common stock of the Company ("Common Stock") reported in this row of this Form 4 was canceled and automatically converted into the right to receive $11.20 in cash, without interest (such amount per share, the "Merger Consideration"). Each of these restricted stock units of the Company ("RSU") represented a contingent right to receive one share of Common Stock. Pursuant to the Merger Agreement, at or immediately prior to the Effective Time, each RSU that was outstanding immediately prior to the Effective Time was fully vested and free of restrictions and was canceled and converted into the right to receive an amount in cash equal to the Merger Consideration. Pursuant to the Merger Agreement, at or immediately prior to the Effective Time, each outstanding option to purchase one share of Common Stock ("Option") having a per share exercise price less than the Merger Consideration ("In-the-Money Option") became fully vested and free of restrictions and was canceled in exchange for cash in an amount equal to (A) the total number of shares of Common Stock for which such In-the-Money Option was exercisable, multiplied by (B) the excess of the Merger Consideration over the per share exercise price of such In-the-Money Option, and each outstanding Company Option having a per share exercise price equal to or greater than the Merger Consideration was canceled without consideration.
Key Figures
Common stock block 1: 19,157 shares
Common stock block 2: 168,718 shares
Merger consideration: $11.20 per share
+3 more
6 metrics
Common stock block 1
19,157 shares
Common Stock canceled for $11.20 cash per share at merger effective time
Common stock block 2
168,718 shares
Common Stock canceled for $11.20 cash per share at merger effective time
Merger consideration
$11.20 per share
Cash paid per share of Cantaloupe common stock in merger
Option shares disposed
100,000 shares
Non-qualified stock option canceled in exchange for cash
Option exercise price
$8.02 per share
Per-share exercise price of non-qualified stock option canceled
Disposition transactions
3 transactions
All coded 'D' as dispositions to issuer on May 8, 2026
Key Terms
Agreement and Plan of Merger, Merger Consideration, Effective Time, restricted stock units, +1 more
5 terms
Agreement and Plan of Merger regulatory
"This Form 4 reports securities disposed of under the Agreement and Plan of Merger, dated as of June 15, 2025"
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 $11.20 in cash, without interest (such amount per share, 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 of common stock of the Company"
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.
restricted stock units financial
"Each of these restricted stock units of the Company ("RSU") represented a contingent right to receive one share of Common Stock."
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.
In-the-Money Option financial
"each outstanding option to purchase one share of Common Stock ("Option") having a per share exercise price less than the Merger Consideration ("In-the-Money Option")"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Cantaloupe (CTLP) director Ian Jiro Harris report?
Ian Jiro Harris reported dispositions of Cantaloupe common stock and options related to the company’s merger. His shares and certain stock options were canceled and converted into cash based on the agreed merger price of $11.20 per share at the effective time.
What happened to Ian Jiro Harris’s Cantaloupe (CTLP) stock options in the merger?
A non-qualified option for 100,000 Cantaloupe shares with an $8.02 exercise price was canceled. It was exchanged for cash equal to 100,000 shares multiplied by the excess of the $11.20 merger consideration over the option’s per‑share exercise price.
What is the merger consideration mentioned in the Cantaloupe (CTLP) Form 4?
The merger consideration is cash of $11.20 per share of Cantaloupe common stock. At the effective time of the merger, each affected share and certain equity awards were converted into the right to receive this cash amount instead of remaining as equity.
Does this Cantaloupe (CTLP) Form 4 show any remaining holdings for Ian Jiro Harris?
The Form 4 shows total shares following each reported transaction as zero, indicating no remaining common stock or the reported option position for Ian Jiro Harris after the merger-related cancellations and cash settlements described in the filing’s transactions and footnotes.
Why were Cantaloupe (CTLP) RSUs and options converted to cash in this transaction?
The merger agreement provided that restricted stock units and in-the-money options would fully vest and be canceled at or before the effective time. They were then converted into cash based on the $11.20 per-share merger consideration and, for options, the spread over their exercise price.