[Form 4] SpartanNash Co Insider Trading Activity
Rhea-AI Filing Summary
MacPherson Kerrie D., a director of SpartanNash Company (SPTN), reported disposals of all her holdings following the company's acquisition by C&S Wholesale Grocers, LLC. The filing shows two reported cash conversions at $26.90 per share: one for 12,484 shares and one for 7,847 shares tied to restricted stock units, leaving the reporting person with zero beneficially owned shares. The explanatory note states the transactions resulted from a merger agreement under which SpartanNash stock was canceled and converted into cash consideration.
This disclosure documents the mechanics of the transaction for an insider: outstanding shares were canceled at the effective time and SpartanNash RSUs automatically vested, converted, and were paid in cash at the same per-share price.
Positive
- Merger consideration specified: All equity converted to a cash payment of $26.90 per share.
- RSUs handled consistently: Outstanding restricted stock units automatically vested and were converted to cash at the same per-share price.
Negative
- Insider no longer holds equity: Reporting person reports zero shares beneficially owned following the conversion.
- Complete cancellation of shares: All outstanding common stock was canceled at the effective time, eliminating public equity for SpartanNash.
Insights
TL;DR: Merger completed with cash consideration of $26.90 per share; insider holdings and RSUs cashed out.
The Form 4 confirms consummation of a merger in which C&S Wholesale Grocers completed an acquisition of SpartanNash, resulting in cancellation of outstanding common stock and cash-out of equity at $26.90 per share. The reporting entries show the director had both common shares and restricted stock units converted into cash, consistent with merger consideration rather than open-market trades. For stakeholders, this clarifies the transaction mechanics and that equity-based incentives were settled in cash at the stated per-share price.
TL;DR: Insider disclosures align with a corporate change of control and reflect full disposition of director's equity positions.
The filing shows the director no longer holds beneficially owned shares after the merger-based cash conversions. The RSUs automatically vested and were cancelled for cash consideration equal to the merger price per share, indicating plan provisions triggering at change of control operated as described. The disclosure is straightforward and provides transparency on how director-held equity and awards were treated in the transaction.