205,815 Peakstone (PKST) shares canceled for $21 in merger
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Peakstone Realty Trust chief operating officer and chief legal officer Nina Momtazee Sitzer reported a disposition to the issuer of 205,815 shares of common stock. These shares, including unvested restricted stock units, were cancelled and converted into the right to receive $21.00 in cash per share at the company merger effective time under the Merger Agreement. Following this cash-out cancellation, she reported holding zero shares of Peakstone common stock.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Sitzer Nina Momtazee
Role
COO and CLO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 205,815 | $21.00 | $4.32M |
Holdings After Transaction:
Common Stock — 0 shares (Direct, null)
Footnotes (1)
- [object Object]
Key Figures
Shares disposed to issuer: 205,815 shares
Cash per share: $21.00 per share
Post-transaction holdings: 0 shares
3 metrics
Shares disposed to issuer
205,815 shares
Common stock and unvested RSUs canceled at merger effective time
Cash per share
$21.00 per share
Cash consideration for each canceled share/RSU under Merger Agreement
Post-transaction holdings
0 shares
Direct Peakstone common stock held by Nina Momtazee Sitzer after transaction
Key Terms
Disposition to issuer, restricted stock units, Merger Agreement, Merger Effective Time
4 terms
Disposition to issuer financial
"transaction_code_description: "Disposition to issuer""
restricted stock units financial
"Represents shares of common stock and unvested restricted stock units that were cancelled"
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.
Merger Agreement financial
"at the Company Merger Effective Time in accordance with the terms of the Merger Agreement"
A merger agreement is a binding contract that lays out the exact terms for two companies to combine, including the price, what each side will deliver, and the conditions that must be met before the deal is completed. Investors care because it sets the timetable, payouts and risks — like a blueprint or prenup that shows whether the deal is likely to close, how ownership will change, and what could cancel or alter the payout they expect.
Merger Effective Time financial
"cancelled and converted into the right to receive an amount in cash ... at the Company Merger Effective Time"
FAQ
What insider transaction did Peakstone Realty Trust (PKST) report for Nina Momtazee Sitzer?
Peakstone Realty Trust reported that COO and CLO Nina Momtazee Sitzer disposed of 205,815 common shares. These shares, including unvested restricted stock units, were cancelled and converted into a cash right under the company’s Merger Agreement at $21.00 per share at the merger effective time.
What does 'disposition to issuer' mean in the Peakstone (PKST) Form 4?
In this Form 4, 'disposition to issuer' means the shares were surrendered back to Peakstone rather than sold on the market. They were cancelled at the merger effective time and converted into a contractual right to receive $21.00 in cash per share under the Merger Agreement.