SPTN Form 4: Director holdings converted to $26.90 cash in acquisition
Rhea-AI Filing Summary
SpartanNash director Flur Dorlisa K reported the cancellation and cash conversion of her company stock and restricted stock units as part of the merger with C&S Wholesale Grocers. Under the merger agreement, all outstanding SpartanNash shares were converted into a cash payment of $26.90 per share. The filing shows two related entries: a disposition of 4,775 common shares (leaving 7,847 shares immediately after that disposition) and a subsequent disposition of 7,847 shares, leaving 0 shares beneficially owned.
The filing also notes that outstanding SpartanNash restricted stock units automatically vested and were cancelled, each converted into the same $26.90 per share cash payment. The Form 4 is signed by an attorney-in-fact on behalf of the reporting person.
Positive
- All outstanding shares and RSUs were converted to cash at a fixed per-share price of $26.90
- Restricted stock units automatically vested and were settled consistent with the merger terms
Negative
- Reporting person's beneficial ownership of common stock was reduced to 0 shares following the transactions
Insights
Director's equity was fully cashed out at the merger price, eliminating her direct holdings.
The Form 4 documents that the reporting person, identified as a director, ceased to beneficially own SpartanNash common stock following the merger consideration paid in cash at $26.90 per share. The stepwise reporting shows an intermediate holding of 7,847 shares followed by a final disposition reducing holdings to zero, consistent with a corporate change of control where outstanding shares and RSUs are cancelled and converted into cash. The submission was executed by an attorney-in-fact, which is routine for insider filings when delegates handle administrative duties.
The transaction reflects settlement mechanics of an acquisition: equity and RSUs converted into cash at the agreed deal price.
The explanatory note ties the dispositions to a merger agreement under which C&S Wholesale Grocers acquired SpartanNash and all outstanding stock was cancelled and converted into a $26.90 per share cash payment. The RSUs were treated consistently, vesting and converting into the same cash amount per share. For investors tracking deal execution, this Form 4 confirms payment and that the reporting person's equity and RSUs were monetized at the stated per-share price.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 4,775 | $26.90 | $128K |
| Disposition | Common Stock | 7,847 | $26.90 | $211K |
Footnotes (1)
- On September 22, 2025, C&S Wholesale Grocers, LLC acquired the Issuer pursuant to an Agreement and Plan of Merger dated June 22, 2025 (the "Merger Agreement") by and among SpartanNash Company, New Mackinac HoldCo, Inc., Mackinac Merger Sub, Inc., and C&S Wholesale Grocers, LLC. At the Effective Time (as defined in the Merger Agreement), all outstanding SpartanNash Company stock was canceled immediately prior to the Effective Time and converted into the right to receive a cash payment of $26.90 a share. Pursuant to the Merger Agreement, each SpartanNash restricted stock unit ("SpartanNash RSU") outstanding immediately prior to the Effective Time automatically vested and was cancelled and converted into the right to receive a cash payment of $26.90 in respect of each share of SpartanNash Company stock subject to such SpartanNash RSU.
