Mastercraft Boat Holdings Inc SEC Filings

Royal Bank of Canada (RY) has filed a 424B2 pricing supplement for a $553,000 issuance of Auto-Callable Contingent Coupon Barrier Notes linked to the Bloomberg US Large Cap VolMax Index (BMAXUS), maturing March 25, 2030. The notes offer a monthly contingent coupon of 1.05% (12.60% p.a.) when the Underlier’s closing value on the observation date is at least 50% of the initial level (Coupon Threshold/Barrier = 5,722.60, based on an initial level of 11,445.19).
• Auto-call feature: beginning June 22 2026 (month 12), the notes will be redeemed at par plus the coupon if the Underlier closes at or above the initial level on any observation date.
• Principal at maturity: if not called and the Underlier is ≥ Barrier (50% of initial), investors receive par plus any due coupon; if the Underlier is < Barrier, repayment equals par plus the Underlier return, resulting in 1-for-1 downside exposure below the barrier.
• Issue economics: price to public 100%, underwriting discount 1.25%; proceeds to RBC 98.75%. The initial estimated value is $922.49 per $1,000 (≈92.25% of par), highlighting a dealer margin of ~7.75%.
• Liquidity & credit: the notes are senior unsecured obligations, not listed on any exchange, and subject to RBC’s credit risk. RBCCM is calculation agent and underwriter.
• Underlying mechanics: BMAXUS is a recently launched (Dec 9 2024) 40% target-volatility index that can lever up to 5× exposure to the Bloomberg US Large Cap Total Return Index, less daily deductions: SOFR+0.5% financing cost, 6% annual fee, and 0.01% daily transaction cost. These drag factors will reduce index performance relative to the underlying equity basket.
• Key dates: Trade Date 6/20/2025; Issue Date 6/25/2025; Valuation Date 3/20/2030; monthly coupon/observation schedule provided through maturity.
• Risk highlights: investors may receive no coupons, face substantial loss below the 50% barrier, lack secondary market liquidity, and confront uncertain U.S. tax treatment. The note’s payoff caps upside at coupon income and provides no participation in index appreciation.

Form 4 filing overview (ZSPC): Director Pankaj Gupta reported the vesting and automatic conversion of 6,720 Restricted Stock Units (RSUs) into an equal number of shares of zSpace, Inc. common stock on July 1, 2025. The transaction is coded “M,” indicating a tax-free, cost-free conversion; the reported price is $0.00.

Following the conversion, Gupta now holds 6,720 shares directly. Table II shows he still beneficially owns 6,721 RSUs, which remain un-converted. The RSUs were originally granted on April 1, 2025 under the company’s 2024 Equity Incentive Plan and the board’s annual compensation policy.

The filing represents a routine equity award vesting rather than an open-market purchase or sale, and therefore carries limited immediate valuation impact. However, it marginally increases insider equity alignment with shareholders.

Zimmer Biomet Holdings, Inc. (ZBH) – Form 4 filing dated 07/02/2025

Director Michael J. Farrell reported the automatic accrual of 466.469 phantom stock units on 06/30/2025 under the company’s Deferred Compensation Plan for Non-Employee Directors. Each unit is economically equivalent to one share of common stock at a reference price of $91.11; the units will be settled in cash within 60 days after Mr. Farrell ceases to serve on the board. Following the transaction, Mr. Farrell holds a total of 16,894.007 phantom stock units, classified as direct ownership. No non-derivative common shares were bought or sold, and there were no changes to Mr. Farrell’s voting power.

The filing does not disclose any open-market share purchases or sales, equity grants that dilute existing shareholders, or other events likely to affect near-term financial performance. Accordingly, the transaction appears routine and has limited market impact.