Global Business Travel Cancels 92,371 Stock Units
Pelant's equity awards were converted into cash at a $9.50 per-share value, with performance-unit counts determined using the greater of target or performance-earned shares.
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Form Type
4
Rhea-AI Filing Summary
Global Business Travel Group, Inc. (GBTG) became a wholly owned subsidiary of Gaia Purchaser, Inc. on September 29, 2026, under the merger agreement. Executive Vice President, Traveler Experience and US Defense and Government John Edward Pelant reported that 92,371 shares underlying his restricted stock units were canceled for cash at $9.50 per share. He also reported a deemed acquisition of 57,142 performance stock unit shares, followed by their cancellation for cash based on the greater of the target shares or shares earned under the performance criteria.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
Pelant John Edward
Role
See remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Common Stock F1 | 92,371 | -- | -- |
| Grant/Award | Class A Common Stock F2 | 57,142 | $0.00 | $0.00 |
| Disposition | Class A Common Stock F3 | 57,142 | -- | -- |
Holdings After Transaction:
Class A Common Stock — 0 shares (Direct)
Footnotes (3)
- F1. On September 29, 2026, pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated May 2, 2026, by and among the Issuer, Gaia Purchaser, Inc. ("Parent") and Gaia Merger Sub, Inc., a wholly owned subsidiary of Parent, the Issuer became a wholly owned subsidiary of Parent (the "Merger"). At the effective time of the Merger (the "Effective Time"), pursuant to the Merger Agreement, each award of restricted stock units of the Issuer (a "Company RSU") that was outstanding as of immediately prior to the Effective Time was automatically cancelled and converted into the right to receive an amount in cash, without interest and subject to applicable withholding taxes, equal to the product of (i) $9.50, without interest thereon (the "Per Share Price") and (ii) the total number of shares of Class A common stock, par value $0.0001 per share, of the Issuer ("Company Common Stock") subject to such Company RSU as of immediately prior to the Effective Time.
- F2. Represents a deemed acquisition of shares of Company Common Stock underlying each award of performance stock units of the Issuer (a "Company PSU") held by the reporting person that was unvested and outstanding as of immediately prior to the Effective Time based on the attainment of the applicable performance metrics at the greater of (i) the target number of shares of Company Common Stock subject to such Company PSU as of immediately prior to the Effective Time and (ii) the number of shares of Company Common Stock to be earned based on actual achievement of the performance criteria set forth in the applicable award agreement as of immediately prior to the Effective Time.
- F3. As of immediately prior to the Effective Time, each Company PSU that was outstanding as of immediately prior to the Effective Time was automatically cancelled and converted into the right to receive an amount in cash, without interest and subject to applicable withholding taxes, equal to the product of (A) the Per Share Price and (B) the greater of (i) the target number of shares of Company Common Stock subject to such Company PSU as of immediately prior to the Effective Time and (ii) the number of shares of Company Common Stock to be earned based on actual achievement of the performance criteria set forth in the applicable award agreement as of immediately prior to the Effective Time.
Key Figures
Restricted stock unit shares canceled: 92,371 shares
Per Share Price: $9.50 per share
Performance stock unit shares deemed acquired: 57,142 shares
+1 more
4 metrics
Restricted stock unit shares canceled
92,371 shares
September 29, 2026 merger transaction
Per Share Price
$9.50 per share
Cash conversion of restricted and performance stock units
Performance stock unit shares deemed acquired
57,142 shares
Based on the greater of target shares or shares earned under performance criteria
Performance stock unit shares canceled
57,142 shares
September 29, 2026 merger transaction
Key Terms
restricted stock units, performance stock units, Per Share Price, Effective Time
4 terms
restricted stock units financial
"each award of restricted stock units of the Issuer"
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.
performance stock units financial
"each award of performance stock units of the Issuer"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Effective Time technical
"At the effective time of the Merger (the "Effective Time")"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
How were GBTG performance stock units settled?
On September 29, 2026, 57,142 performance stock unit shares were deemed acquired and then canceled for cash at the $9.50 per-share value. The cash amount used the greater of the target shares or shares earned under actual performance criteria, without interest and subject to applicable withholding taxes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
