On October 27, 2026, EnerSys agreed to acquire Ultralife through a tender offer followed by a merger, at $16.00 in cash per share, for an approximately $320 million enterprise value. The stated price represents a 166% premium to Ultralife’s unaffected closing share price on October 26, 2026.
EnerSys plans to fund the transaction with cash on hand. The offer has not commenced; EnerSys’ wholly owned subsidiary is to launch it within 10 business days after the agreement date. Completion is subject to tender and regulatory conditions, including valid tenders representing at least one share more than 50% of Ultralife’s shares issued and outstanding at acceptance, together with shares then beneficially owned by the buyer and its affiliates. Stockholders covered by support agreements held approximately 40.3%, which alone does not meet that condition. Closing is expected in the first quarter of calendar 2027, and the offer has no financing condition.
EnerSys expects $15 million to $20 million in annual run-rate cost synergies within the first 18 months. Ultralife reported fiscal 2025 revenue of $191 million. At closing, EnerSys will repay amounts outstanding under Ultralife’s existing credit agreement.
EnerSys Chief Digital, AI Officer Navneet Grewal received two direct common-stock awards on October 16, 2026: 5,927 restricted stock units and 5,927 performance-based stock units. The restricted stock units vest one-third on October 16, 2027, October 16, 2028 and October 16, 2029, subject to specified acceleration or forfeiture circumstances. The performance-based units vest on the third anniversary of the grant, with the final share amount based on cumulative adjusted EPS relative to a target; the reported 5,927 units assume a 100% performance adjustment.
On October 15, 2026, EnerSys director Lauren Knausenberger acquired 153 stock units in lieu of cash fees; those units immediately vested. EnerSys also contributed 30 matching stock units to her account in its Voluntary Deferred Compensation Plan for Non-Employee Directors. The matching contribution vests 25% on each of January 15, 2027, April 15, 2027, July 15, 2027, and October 15, 2027, subject to acceleration or cancellation upon certain events. The transactions resulted in 183 additional stock units in the Plan. Each unit represents a right to receive one share of EnerSys common stock, payable upon her Termination as defined in the Plan.
EnerSys director Tamara Morytko acquired 170 stock units on October 15, 2026, in lieu of cash fees; the units immediately vested under the EnerSys Voluntary Deferred Compensation Plan for Non-Employee Directors. She also received 34 matching stock units, which vest 25% on each of January 15, April 15, July 15, and October 15, 2027, subject to acceleration or cancellation upon certain events. The 204 additional stock units represent rights to receive one share each, payable upon her Termination as defined in the Plan.
EnerSys director David C. Habiger acquired 170 stock units on October 15, 2026, in lieu of cash fees; they immediately vested. He also received a 34-unit matching contribution, which vests 25% on January 15, 2027, April 15, 2027, July 15, 2027, and October 15, 2027, subject to acceleration or cancellation upon certain events. The Plan records an additional 204 stock units in his account.
EnerSys director Rudolph W. Wynter acquired 187 stock units on October 15, 2026, in lieu of cash fees; the units immediately vested. EnerSys also contributed 37 matching stock units to his account in the EnerSys Voluntary Deferred Compensation Plan for Non-Employee Directors. The matching units vest 25% on each of January 15, April 15, July 15, and October 15, 2027, subject to acceleration or cancellation upon the occurrence of certain events. The transactions resulted in 224 additional stock units in the Plan, each representing a right to one share payable upon his Termination, as defined in the Plan.
EnerSys director Paul J. Tufano acquired 253 stock units in lieu of cash fees on October 15, 2026; the units immediately vested. EnerSys also made a 50-unit matching contribution to his Plan account, vesting 25% on each of January 15, April 15, July 15, and October 15, 2027, subject to acceleration or cancellation upon certain events. The account received 303 additional stock units; each represents a right to receive one EnerSys common share, payable upon his Termination as defined in the Plan.
EnerSys lists Chief Digital, AI Officer Navneet Grewal with 0 shares of common stock held directly in a holding entry dated October 16, 2026.
EnerSys appointed Navi Grewal as Chief Digital, AI and Information Officer, effective October 16, 2026. She will report to President and Chief Executive Officer Shawn O’Connell and join the Executive Leadership Team.
Grewal will lead global digital, artificial intelligence, information technology, cybersecurity and enterprise data strategy, including business-system modernization, digital transformation and an enterprise AI strategy. She brings nearly three decades of experience across industrial, manufacturing and consumer businesses; most recently, she served as Global Chief Digital and Technology Officer at MasterBrand Cabinets.
EnerSys (ENS) director Caroline Chan acquired 24 shares in Deferred Stock Units on October 2, 2026, in connection with a cash dividend paid to stockholders of record as of September 18, 2026. Her reported position following the transaction was 16,718 shares. The DSUs were vested and payable concurrent with the underlying DSUs; the grant was with respect to 16,693 vested DSUs.