Spirit AeroSystems (SPR) officer reports Boeing stock conversion after merger
Rhea-AI Filing Summary
Spirit AeroSystems Holdings, Inc. (SPR) VP and Corporate Controller reported changes in his ownership following the company’s merger with The Boeing Company. On December 8, 2025, his 13,610 shares of Spirit Class A common stock were disposed of when each share was automatically canceled and converted under the merger terms.
Each Spirit share was converted into the right to receive Boeing common stock at a fixed exchange ratio of 0.1955. In addition, his 11,683 restricted stock units (RSUs) tied to Spirit stock were automatically converted into Boeing RSUs, with the number of Boeing shares for each award based on the same 0.1955 exchange ratio. These Boeing RSUs keep the same vesting and other terms that applied to the original Spirit RSUs, and any accrued but unpaid dividend equivalents were carried over to the new Boeing awards.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Restricted Stock Units | 11,683 | $0.00 | -- |
| Disposition | Class A Common Stock | 13,610 | $0.00 | -- |
Footnotes (1)
- On December 8, 2025, pursuant to the Agreement and Plan of Merger among the issuer, The Boeing Company (Boeing) and Sphere Acquisition Corp., dated June 30, 2024 (the Merger Agreement), each share of the Class A Common Stock (Share) of the issuer was automatically canceled and converted into the right to receive a number of shares of Boeing common stock equal to 0.1955 (the Exchange Ratio). Restricted stock units (RSUs), once vested and payable, would be settled in Shares on a one-for-one basis. On December 8, 2025, pursuant to the Merger Agreement, each outstanding RSU of the issuer held by the reporting person was automatically converted into an RSU of Boeing denominated in shares of Boeing common stock (a Boeing RSU). The number of shares of Boeing common stock subject to each such Boeing RSU is equal to the product (rounded to the nearest whole number) of (i) the total number of Shares subject to such issuer RSU immediately prior to the Effective Time (as defined in the Merger Agreement) multiplied by (ii) the Exchange Ratio. Any accrued but unpaid dividend equivalents with respect to any such issuer RSU was assumed and became an obligation with respect to the applicable Boeing RSU. Each such Boeing RSU continues to be governed by the same terms and conditions (including vesting terms) as were applicable to such issuer RSU immediately prior to the Effective Time.