[6-K] POSCO Holdings Inc. American Current Report (Foreign Issuer)
Director Stefan Vitorovic filed a Form 4 for Vigil Neuroscience (VIGL) covering equity disposition on 08/05/2025, the date Vigil was acquired by Sanofi via Vesper Acquisition Sub.
Under the merger terms, every Vigil common share and equity award converted into the right to receive $8.00 in cash plus one contingent value right (CVR) for up to $2.00, contingent on a clinical milestone.
Key insider transactions:
- 5,000 restricted stock units (reported as common stock) cancelled for the merger consideration.
- Stock-option tranches cancelled and cash-settled after accelerated vesting: 18,068 @ $3.38, 13,928 @ $3.03, and 12,155 @ $3.03.
Post-closing, the reporting person holds 0 Vigil shares or options; all awards have been converted to cash and CVRs, reflecting Vigil’s transition to a wholly owned Sanofi subsidiary.
Il direttore Stefan Vitorovic ha presentato un Modulo 4 per Vigil Neuroscience (VIGL) relativo alla cessione di azioni in data 08/05/2025, giorno in cui Vigil è stata acquisita da Sanofi tramite Vesper Acquisition Sub.
Secondo i termini della fusione, ogni azione ordinaria e ogni premio azionario di Vigil sono stati convertiti nel diritto di ricevere 8,00 $ in contanti più un diritto di valore contingente (CVR) fino a 2,00 $, subordinato al raggiungimento di un traguardo clinico.
Operazioni chiave degli insider:
- 5.000 unità di azioni vincolate (segnalate come azioni ordinarie) cancellate in cambio della controparte della fusione.
- Tranches di opzioni azionarie cancellate e liquidate in contanti dopo la maturazione accelerata: 18.068 a 3,38 $, 13.928 a 3,03 $ e 12.155 a 3,03 $.
Dopo la chiusura, la persona che ha presentato la segnalazione non detiene più azioni o opzioni Vigil; tutti i premi sono stati convertiti in contanti e CVR, riflettendo la trasformazione di Vigil in una controllata interamente posseduta da Sanofi.
El director Stefan Vitorovic presentó un Formulario 4 para Vigil Neuroscience (VIGL) relacionado con la disposición de acciones el 08/05/2025, fecha en que Vigil fue adquirida por Sanofi a través de Vesper Acquisition Sub.
Bajo los términos de la fusión, cada acción común y premio de capital de Vigil se convirtió en el derecho a recibir $8.00 en efectivo más un derecho contingente de valor (CVR) por hasta $2.00, condicionado a un hito clínico.
Transacciones clave de los insiders:
- 5,000 unidades restringidas de acciones (reportadas como acciones comunes) canceladas como parte de la contraprestación de la fusión.
- Tramos de opciones sobre acciones cancelados y liquidados en efectivo tras aceleración de la consolidación: 18,068 a $3.38, 13,928 a $3.03 y 12,155 a $3.03.
Tras el cierre, la persona que reporta no posee acciones ni opciones de Vigil; todos los premios se convirtieron en efectivo y CVRs, reflejando la transición de Vigil a una subsidiaria totalmente propiedad de Sanofi.
이사 Stefan Vitorovic는 Vigil Neuroscience(VIGL)에 대한 주식 처분을 포함하는 Form 4를 2025년 8월 5일에 제출했습니다. 이 날짜는 Vigil이 Vesper Acquisition Sub를 통해 Sanofi에 인수된 날입니다.
합병 조건에 따라 Vigil의 보통주 및 주식 보상은 임상 마일스톤에 따라 최대 현금 8.00달러와 최대 2.00달러의 조건부 가치 권리(CVR) 1개를 받을 권리로 전환되었습니다.
주요 내부자 거래 내역:
- 5,000 제한 주식 단위(보통주로 신고됨)가 합병 대가로 취소됨.
- 가속 취득 후 현금 정산된 스톡옵션 트랜치: 18,068주 @ 3.38달러, 13,928주 @ 3.03달러, 12,155주 @ 3.03달러.
거래 종료 후, 신고인은 Vigil 주식이나 옵션을 보유하지 않으며 모든 보상은 현금과 CVR로 전환되어 Vigil이 Sanofi의 완전 자회사로 전환되었음을 반영합니다.
Le directeur Stefan Vitorovic a déposé un formulaire 4 pour Vigil Neuroscience (VIGL) concernant la cession d’actions le 08/05/2025, date à laquelle Vigil a été acquise par Sanofi via Vesper Acquisition Sub.
Selon les termes de la fusion, chaque action ordinaire et attribution d’actions de Vigil a été convertie en droit de recevoir 8,00 $ en espèces plus un droit à valeur contingente (CVR) pouvant aller jusqu’à 2,00 $, sous condition d’atteinte d’un jalon clinique.
Transactions clés des initiés :
- 5 000 unités d’actions restreintes (rapportées comme actions ordinaires) annulées en échange de la contrepartie de la fusion.
- Tranches d’options sur actions annulées et réglées en espèces après acquisition accélérée : 18 068 à 3,38 $, 13 928 à 3,03 $ et 12 155 à 3,03 $.
Après la clôture, la personne déclarante ne détient plus d’actions ou d’options Vigil ; toutes les attributions ont été converties en espèces et en CVR, reflétant la transformation de Vigil en filiale à 100 % de Sanofi.
Direktor Stefan Vitorovic reichte ein Formular 4 für Vigil Neuroscience (VIGL) ein, das eine Aktienveräußerung am 08.05.2025 abdeckt, dem Datum, an dem Vigil durch Sanofi über Vesper Acquisition Sub übernommen wurde.
Gemäß den Fusionsbedingungen wurde jede Vigil-Stammaktie und jeder Aktienzuwendungsanspruch in das Recht umgewandelt, 8,00 $ in bar plus ein bedingtes Wertrecht (CVR) für bis zu 2,00 $ zu erhalten, abhängig von einem klinischen Meilenstein.
Wichtige Insider-Transaktionen:
- 5.000 Restricted Stock Units (als Stammaktien gemeldet) wurden für die Fusionsgegenleistung storniert.
- Aktienoptions-Tranchen wurden nach beschleunigter Vesting-Bedingung storniert und bar abgewickelt: 18.068 @ 3,38 $, 13.928 @ 3,03 $ und 12.155 @ 3,03 $.
Nach dem Abschluss hält die meldende Person 0 Vigil-Aktien oder Optionen; alle Zuwendungen wurden in Bargeld und CVRs umgewandelt, was die Umwandlung von Vigil in eine hundertprozentige Tochtergesellschaft von Sanofi widerspiegelt.
- Cash exit at $8 per share plus an additional $2 CVR offers liquidity with future upside for former shareholders.
- Full acceleration and settlement of RSUs and options removes equity overhang and simplifies capital structure post-merger.
- Insider ownership reduced to zero, eliminating board-level equity alignment with the now-private subsidiary.
Insights
TL;DR – Insider equity cashed out at $8 + $2 CVR following Sanofi acquisition; no residual holdings.
The Form 4 confirms merger consummation: Sanofi paid $8 per share plus a $2 milestone CVR. All unvested RSUs and options were accelerated, then cancelled for cash equal to intrinsic value plus CVRs. The director’s complete exit eliminates insider ownership overhang and signals finalization of the buy-out. While not an open-market signal, the cash consideration and full vesting suggest a clean hand-over and potential upside through the CVR. Impact: moderately positive for prior Vigil shareholders who now hold a cash claim and milestone-linked upside.
Il direttore Stefan Vitorovic ha presentato un Modulo 4 per Vigil Neuroscience (VIGL) relativo alla cessione di azioni in data 08/05/2025, giorno in cui Vigil è stata acquisita da Sanofi tramite Vesper Acquisition Sub.
Secondo i termini della fusione, ogni azione ordinaria e ogni premio azionario di Vigil sono stati convertiti nel diritto di ricevere 8,00 $ in contanti più un diritto di valore contingente (CVR) fino a 2,00 $, subordinato al raggiungimento di un traguardo clinico.
Operazioni chiave degli insider:
- 5.000 unità di azioni vincolate (segnalate come azioni ordinarie) cancellate in cambio della controparte della fusione.
- Tranches di opzioni azionarie cancellate e liquidate in contanti dopo la maturazione accelerata: 18.068 a 3,38 $, 13.928 a 3,03 $ e 12.155 a 3,03 $.
Dopo la chiusura, la persona che ha presentato la segnalazione non detiene più azioni o opzioni Vigil; tutti i premi sono stati convertiti in contanti e CVR, riflettendo la trasformazione di Vigil in una controllata interamente posseduta da Sanofi.
El director Stefan Vitorovic presentó un Formulario 4 para Vigil Neuroscience (VIGL) relacionado con la disposición de acciones el 08/05/2025, fecha en que Vigil fue adquirida por Sanofi a través de Vesper Acquisition Sub.
Bajo los términos de la fusión, cada acción común y premio de capital de Vigil se convirtió en el derecho a recibir $8.00 en efectivo más un derecho contingente de valor (CVR) por hasta $2.00, condicionado a un hito clínico.
Transacciones clave de los insiders:
- 5,000 unidades restringidas de acciones (reportadas como acciones comunes) canceladas como parte de la contraprestación de la fusión.
- Tramos de opciones sobre acciones cancelados y liquidados en efectivo tras aceleración de la consolidación: 18,068 a $3.38, 13,928 a $3.03 y 12,155 a $3.03.
Tras el cierre, la persona que reporta no posee acciones ni opciones de Vigil; todos los premios se convirtieron en efectivo y CVRs, reflejando la transición de Vigil a una subsidiaria totalmente propiedad de Sanofi.
이사 Stefan Vitorovic는 Vigil Neuroscience(VIGL)에 대한 주식 처분을 포함하는 Form 4를 2025년 8월 5일에 제출했습니다. 이 날짜는 Vigil이 Vesper Acquisition Sub를 통해 Sanofi에 인수된 날입니다.
합병 조건에 따라 Vigil의 보통주 및 주식 보상은 임상 마일스톤에 따라 최대 현금 8.00달러와 최대 2.00달러의 조건부 가치 권리(CVR) 1개를 받을 권리로 전환되었습니다.
주요 내부자 거래 내역:
- 5,000 제한 주식 단위(보통주로 신고됨)가 합병 대가로 취소됨.
- 가속 취득 후 현금 정산된 스톡옵션 트랜치: 18,068주 @ 3.38달러, 13,928주 @ 3.03달러, 12,155주 @ 3.03달러.
거래 종료 후, 신고인은 Vigil 주식이나 옵션을 보유하지 않으며 모든 보상은 현금과 CVR로 전환되어 Vigil이 Sanofi의 완전 자회사로 전환되었음을 반영합니다.
Le directeur Stefan Vitorovic a déposé un formulaire 4 pour Vigil Neuroscience (VIGL) concernant la cession d’actions le 08/05/2025, date à laquelle Vigil a été acquise par Sanofi via Vesper Acquisition Sub.
Selon les termes de la fusion, chaque action ordinaire et attribution d’actions de Vigil a été convertie en droit de recevoir 8,00 $ en espèces plus un droit à valeur contingente (CVR) pouvant aller jusqu’à 2,00 $, sous condition d’atteinte d’un jalon clinique.
Transactions clés des initiés :
- 5 000 unités d’actions restreintes (rapportées comme actions ordinaires) annulées en échange de la contrepartie de la fusion.
- Tranches d’options sur actions annulées et réglées en espèces après acquisition accélérée : 18 068 à 3,38 $, 13 928 à 3,03 $ et 12 155 à 3,03 $.
Après la clôture, la personne déclarante ne détient plus d’actions ou d’options Vigil ; toutes les attributions ont été converties en espèces et en CVR, reflétant la transformation de Vigil en filiale à 100 % de Sanofi.
Direktor Stefan Vitorovic reichte ein Formular 4 für Vigil Neuroscience (VIGL) ein, das eine Aktienveräußerung am 08.05.2025 abdeckt, dem Datum, an dem Vigil durch Sanofi über Vesper Acquisition Sub übernommen wurde.
Gemäß den Fusionsbedingungen wurde jede Vigil-Stammaktie und jeder Aktienzuwendungsanspruch in das Recht umgewandelt, 8,00 $ in bar plus ein bedingtes Wertrecht (CVR) für bis zu 2,00 $ zu erhalten, abhängig von einem klinischen Meilenstein.
Wichtige Insider-Transaktionen:
- 5.000 Restricted Stock Units (als Stammaktien gemeldet) wurden für die Fusionsgegenleistung storniert.
- Aktienoptions-Tranchen wurden nach beschleunigter Vesting-Bedingung storniert und bar abgewickelt: 18.068 @ 3,38 $, 13.928 @ 3,03 $ und 12.155 @ 3,03 $.
Nach dem Abschluss hält die meldende Person 0 Vigil-Aktien oder Optionen; alle Zuwendungen wurden in Bargeld und CVRs umgewandelt, was die Umwandlung von Vigil in eine hundertprozentige Tochtergesellschaft von Sanofi widerspiegelt.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15D-16 UNDER
THE SECURITIES EXCHANGE ACT OF 1934
For the month of August, 2025
Commission File Number: 1-13368
POSCO HOLDINGS INC.
(Translation of registrant’s name into English)
POSCO Center, 440 Teheran-ro, Gangnam-gu, Seoul, Korea, 06194
(Address of principal executive offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Form 20-F ☒ Form 40-F ☐
Notice of Exclusion of Subsidiary in Holding Company
| 1. Details of subsidiary | A. Company name | POSCO CNGR Nickel Solution Co., Ltd. | ||||
| B. Representative | Baek, Gye-Ju | |||||
| C. Main business | Production and sales of high purity Nickel | |||||
| A. Financial status of latest fiscal year (million KRW) | Total assets | 76,029 | ||||
| Total liabilities | 1,497 | |||||
| Total shareholders’ equity | 74,532 | |||||
| Capital stock | 82,000 | |||||
| 2. Shareholding ratio of subsidiary | Before exclusion |
Shares held | 9,840,000 | |||
| Shareholding ratio (%) | 60 | |||||
| After exclusion |
Shares held | — | ||||
| Shareholding ratio (%) | — | |||||
| 3. Percentage of value of shares held to total assets | Before exclusion |
Value of shares held (million KRW) |
49,520 | |||
| Percentage in total assets (%) |
0.1 | |||||
| After exclusion |
Value of shares held (million KRW) |
— | ||||
| Percentage in total assets (%) |
— | |||||
| 4. Total number of subsidiaries | Before exclusion | 19 | ||||
| After exclusion | 18 | |||||
| 5. Reasons for exclusion | Exclusion of subsidiary from holding company upon completion of liquidation | |||||
| 6. Date of exclusion | August 5, 2025 | |||||
| 7. Date of board resolution (decision date) | July 22, 2025 | |||||
| 8. Other matters to be factored into investment decisions |
• The afore-described ‘Shares held before exclusion under 2. ‘Shareholding ratio of subsidiary’ is 9,840,000 shares owned by POSCO Holdings that represent 60% of the total shares (16,400,000) issued.
• The afore-described ‘Value of shares held (KRW million)’ before exclusion under 3. ‘Percentage of value of shares held to total assets’ is the equity value of 9,840,000 shares owned by POSCO Holdings as of 2024-end; the ‘Percentage in total assets (%) before exclusion’ refers to the ratio of the equity value against the total assets accounted in the separate financial statements of POSCO Holdings at the end of FY 2024. | |||||
|
• The afore-described ‘6. Date of exclusion’ denotes the Date of Completion of Liquidation Registration.
• The afore-described ‘7. Date of Board Resolution (decision date)’ denotes the date of the extraordinary shareholders’ meeting convened to finalize the decision to liquidate POSCO CNGR Nickel Solution Co., Ltd. | ||||||
Related disclosure |
• (February 11, 2025) Occurrence of Causes for Subsidiary’s Dissolution | |||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| POSCO HOLDINGS INC. | ||||||
| (Registrant) | ||||||
| Date: | August 5, 2025 | By | /s/ Han, Young-Ah | |||
| (Signature) | ||||||
| Name: Han, Young-Ah | ||||||
| Title: Senior Vice President | ||||||
FAQ
What consideration did Vigil Neuroscience (VIGL) shareholders receive in the Sanofi merger?
How many Vigil shares did Director Stefan Vitorovic dispose of?
Were Vigil stock options affected by the merger?
Does the director hold any remaining Vigil equity?
What is the value of the CVR mentioned in the Form 4?
