Denny's (DENN) President & COO equity cashed out at $6.25 in merger
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Denny's Corporation President and COO Christopher D. Bode reported the cash-out of his equity in connection with the company’s merger with Sparkle Topco Corp. On January 16, 2026, Sparkle Acquisition Corp. merged with Denny’s, leaving Denny’s as an indirect wholly owned subsidiary of the buyer. Immediately before the merger became effective, Bode’s common shares were converted into the right to receive $6.25 per share in cash, subject to taxes. His restricted stock units and performance-based restricted stock units were also cancelled and converted into cash amounts based on the same $6.25 merger consideration. Following these transactions, he no longer beneficially owns Denny’s common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
57,674 shares exercised/converted
Mixed
6 txns
Insider
Bode Christopher D
Role
President, COO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 57,674 | $0.00 | -- |
| Disposition | Common Stock | 89,686 | $6.25 | $561K |
| Exercise | Common Stock | 57,674 | $0.00 | -- |
| Disposition | Common Stock | 57,674 | $6.25 | $360K |
| Grant/Award | Common Stock | 55,454 | $0.00 | -- |
| Disposition | Common Stock | 55,454 | $6.25 | $347K |
Holdings After Transaction:
Restricted Stock Units — 0 shares (Direct);
Common Stock — 0 shares (Direct)
Footnotes (1)
- On January 16, 2026, pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated as of November 3, 2025, by and among Denny's Corporation (the "Issuer"), a Delaware corporation, Sparkle Topco Corp., a Delaware corporation (the "Buyer") and Sparkle Acquisition Corp., a Delaware corporation and wholly owned subsidiary of Buyer ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving as a wholly owned, indirect subsidiary of Buyer. Immediately prior to the effective time of the Merger (the "Effective Time"), shares of the Issuer's common stock held by the Reporting Person were converted into the right to receive a cash payment equal to the per share merger consideration of $6.25 (the "Merger Consideration"), without interest and subject to applicable withholding taxes. Pursuant to the Merger Agreement, immediately prior to the Effective Time, each outstanding restricted stock unit ("RSUs") award was cancelled and terminated and converted into a right to receive an amount in cash (without interest and subject to applicable withholding taxes) equal to the product obtained by multiplying (x) the aggregate number of shares of the Issuer's common stock underlying such RSU award by (y) the Merger Consideration. Pursuant to the Merger Agreement, immediately prior to the Effective Time, each of these performance-based restricted stock units ("PSUs") was cancelled and terminated and converted into a right to receive an amount in cash (without interest and subject to applicable withholding taxes) equal to the product obtained by multiplying (x) the aggregate number of shares of the Issuer's common stock underlying such PSU award by (y) the Merger Consideration.
