Global Business Travel merger cancels 856,752 shares

The merger's $9.50 per-share price also fed into cash settlements for RSUs and PSUs, with PSU value tied to the greater target or performance-earned share count.

Rhea-AI Filing Summary

Global Business Travel Group, Inc. Chief People Officer Patricia Anne Huska reported that, when the merger became effective on September 29, 2026, 856,752 Class A common shares were canceled for the right to receive $9.50 per share. This total includes shares acquired under the issuer’s Employee Stock Purchase Plan on August 14, 2026. Another 413,146 shares subject to RSUs were converted into cash rights based on the same per-share price, subject to withholding taxes and without interest. Huska also reported a deemed acquisition of 206,941 shares underlying unvested PSUs, based on the greater of target shares or shares earned from actual performance; the PSU awards were then converted into cash based on that measure, subject to withholding taxes and without interest.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Huska Patricia Anne

Role Chief People Officer

Type	Security	Shares	Price	Value
Disposition	Class A Common Stock F1, F2	856,752	--	--
Disposition	Class A Common Stock F3	413,146	--	--
Grant/Award	Class A Common Stock F4	206,941	$0.00	$0.00
Disposition	Class A Common Stock F5	206,941	--	--

Holdings After Transaction: Class A Common Stock — 0 shares (Direct)

Footnotes (5)

1. F1. Includes shares acquired under the Issuer's Employee Stock Purchase Plan on August 14, 2026.
2. F2. 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 share of Class A common stock, par value $0.0001 per share, of the Issuer ("Company Common Stock") held by the reporting person as of immediately prior to the Effective Time was automatically cancelled and converted into the right to receive cash in an amount equal to $9.50, without interest thereon (the "Per Share Price").
3. F3. As of immediately prior to 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) the Per Share Price and (ii) the total number of shares of Company Common Stock subject to such Company RSU as of immediately prior to the Effective Time.
4. F4. 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.
5. F5. 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

Class A common shares canceled: 856,752 shares Per-share merger price: $9.50 per share Shares subject to RSUs: 413,146 shares +1 more

4 metrics

Class A common shares canceled 856,752 shares Merger effective September 29, 2026

Per-share merger price $9.50 per share Cash right for each Class A common share

Shares subject to RSUs 413,146 shares Converted into cash rights in the merger

Shares underlying PSUs 206,941 shares Deemed acquisition and PSU cash conversion in the merger

Key Terms

Company RSU, Company PSU, Effective Time, Per Share Price

4 terms

Company RSU financial

"an award of restricted stock units of the Issuer (a "Company RSU")"

Company PSU financial

"an award of performance stock units of the Issuer (a "Company PSU")"

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.

Per Share Price financial

"an amount equal to $9.50, without interest thereon (the "Per Share Price")"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What happened to Patricia Anne Huska's GBTG common shares?

Patricia Anne Huska's 856,752 Class A common shares were canceled for the right to receive $9.50 per share when the merger became effective on September 29, 2026. The reported total includes shares acquired under the issuer's Employee Stock Purchase Plan on August 14, 2026.

How were Patricia Anne Huska's GBTG performance stock units settled?

The 206,941 shares underlying unvested PSU awards were deemed acquired based on the greater of the target share count or shares earned from actual performance. The awards were then converted into cash based on that greater share count, without interest and subject to applicable withholding taxes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/29/2026 - 04:23 PM Accepted by SEC EDGAR 09/29/2026 - 04:22 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

X

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Huska Patricia Anne

(Last) (First) (Middle)

C/O GLOBAL BUSINESS TRAVEL GROUP, INC.

666 THIRD AVENUE

(Street)

NEW YORK NEW YORK 10017

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Global Business Travel Group, Inc. [ GBTG ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief People Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/29/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	09/29/2026		D		856,752(1)	D	(2)	413,146	D
Class A Common Stock	09/29/2026		D		413,146	D	(3)	0	D
Class A Common Stock	09/29/2026		A		206,941(4)	A	$0	206,941	D
Class A Common Stock	09/29/2026		D		206,941	D	(5)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes shares acquired under the Issuer's Employee Stock Purchase Plan on August 14, 2026.

2. 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 share of Class A common stock, par value $0.0001 per share, of the Issuer ("Company Common Stock") held by the reporting person as of immediately prior to the Effective Time was automatically cancelled and converted into the right to receive cash in an amount equal to $9.50, without interest thereon (the "Per Share Price").

3. As of immediately prior to 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) the Per Share Price and (ii) the total number of shares of Company Common Stock subject to such Company RSU as of immediately prior to the Effective Time.

4. 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.

5. 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.

	Jennifer Giampietro, as Attorney-in-Fact	09/29/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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* Form 4: SEC 1474 (03-26)