Sun Country (SNCY) director’s 7,040 RSUs cashed out in Allegiant merger
Rhea-AI Filing Summary
Sun Country Airlines Holdings, LLC director Wendy Lee Schoppert reported a disposition of equity tied to the company’s merger with Allegiant Travel Company. The filing shows 7,040 Sun Country restricted stock units were fully vested and cancelled in connection with the closing of the mergers.
Each cancelled restricted stock unit converted into the right to receive $4.10 in cash plus 0.1557 shares of Allegiant common stock. Following this merger-related settlement, the Form 4 lists 0 shares of Sun Country common stock held directly by the reporting person.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 7,040 shares
Net Sell
1 txn
Insider
Schoppert Wendy Lee
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | COMMON STOCK | 7,040 | $0.00 | $0.00 |
Holdings After Transaction:
COMMON STOCK — 0 shares (Direct)
Footnotes (3)
- F1. On May 13, 2026, pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 11, 2026, by and among Sun Country Airlines Holdings, Inc. ("Sun Country" ), Allegiant Travel Company ("Allegiant"), Mirage Merger Sub, Inc. ("Merger Sub 1") and a direct wholly owned subsidiary of Allegiant, Sawdust Merger Sub, LLC ("Merger Sub 2"), a direct wholly owned subsidiary of Allegiant: (a) Merger Sub 1 merged with and into Sun Country (the "First Merger"), with Sun Country surviving the First Merger as a direct wholly owned subsidiary of Allegiant and (b) immediately after the First Merger, Sun Country merged with and into Merger Sub 2, with Merger Sub 2 surviving as a direct, wholly owned subsidiary of Allegiant (the "Second Merger" and, together with the First Merger, the "Mergers"). All terms capitalized but not defined herein shall have the meaning given to them in the Merger Agreement.
- F2. (Continued from footnote 1) Following consummation of the Mergers, Sun Country Airlines Holdings, Inc. is now known as Sun Country Airlines Holdings, LLC.
- F3. Reflects each outstanding Sun Country restricted stock unit award ("Company RSU Award") consisting of 7,040 restricted stock units previously granted to the reporting person, which, as of immediately prior to the effective time of the First Merger, such Company RSU Awards became fully vested (to the extent not yet vested) and were cancelled and converted into the right to receive (a) $4.10 in cash, without interest and (b) 0.1557 shares of Allegiant common stock, par value $0.001 per share.
Key Figures
RSUs cancelled: 7,040 restricted stock units
Cash per RSU: $4.10 per unit
Stock per RSU: 0.1557 Allegiant shares per unit
+1 more
4 metrics
RSUs cancelled
7,040 restricted stock units
Outstanding Sun Country RSU award cancelled at merger closing
Cash per RSU
$4.10 per unit
Cash portion of consideration for each cancelled RSU
Stock per RSU
0.1557 Allegiant shares per unit
Equity portion of consideration for each cancelled RSU
Post-transaction Sun Country holdings
0 shares
Directly held Sun Country common stock after RSU settlement
Key Terms
Agreement and Plan of Merger, restricted stock unit, disposition to issuer, First Merger, +1 more
5 terms
Agreement and Plan of Merger regulatory
"pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 11, 2026"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
restricted stock unit financial
"Reflects each outstanding Sun Country restricted stock unit award ("Company RSU Award") consisting of 7,040 restricted stock units"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
First Merger regulatory
"Merger Sub 1 merged with and into Sun Country (the "First Merger"), with Sun Country surviving"
Second Merger regulatory
"Sun Country merged with and into Merger Sub 2, with Merger Sub 2 surviving ... (the "Second Merger")"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What insider transaction did Sun Country (SNCY) report for Wendy Lee Schoppert?
Wendy Lee Schoppert reported a disposition of 7,040 Sun Country restricted stock units. These units vested and were cancelled in connection with the company’s merger into Allegiant-related entities under an Agreement and Plan of Merger dated January 11, 2026.
How were Sun Country (SNCY) RSUs treated in the Allegiant merger?
Each outstanding Sun Country restricted stock unit became fully vested and was cancelled at the merger’s effective time. Holders received the right to $4.10 in cash plus 0.1557 shares of Allegiant common stock for each restricted stock unit previously granted.
What does the Form 4 show as Wendy Schoppert’s Sun Country (SNCY) holdings after the transaction?
The Form 4 reports 0 shares of Sun Country common stock held directly by Wendy Schoppert following the transaction. This reflects the cancellation and settlement of her 7,040 restricted stock units in connection with the completion of the mergers.
Why is Sun Country Airlines Holdings now listed as an LLC after the merger?
Following consummation of the mergers with Allegiant-related entities, Sun Country Airlines Holdings, Inc. became Sun Country Airlines Holdings, LLC. This name change reflects its new status as a direct, wholly owned subsidiary within Allegiant’s post-merger corporate structure.