[Form 4] SpartanNash Co Insider Trading Activity
Rhea-AI Filing Summary
SpartanNash Co (SPTN) was acquired by C&S Wholesale Grocers, LLC under a merger agreement. At the merger's effective time, all outstanding SpartanNash common stock was canceled and converted into a right to receive $26.90 per share. The reporting person, Mininberg Julien, who served as a director, disposed of 18,345 shares and 7,847 shares tied to restricted stock units that automatically vested and were converted into cash at the same per-share price, leaving zero shares beneficially owned after the transactions.
Positive
- All outstanding common stock converted to cash at $26.90 per share, providing immediate liquidity to shareholders
- Restricted stock units automatically vested and were cash-settled at $26.90, ensuring holders received the merger consideration
- M&A transaction completed, resolving ownership and equity compensation treatment per the merger agreement
Negative
- Public trading interest eliminated because all outstanding SpartanNash shares were canceled at the Effective Time
- Reporting person holds zero shares after the transaction, removing insider ownership and potential alignment with public investors
Insights
TL;DR: A completed cash-out merger paid $26.90 per share, converting equity and RSUs to cash and eliminating public minority holdings.
The Form 4 shows a complete corporate change of control where C&S Wholesale Grocers acquired SpartanNash and cash-settled all equity at $26.90 per share. The reporting person’s common stock and restricted stock units were cancelled and converted into cash, resulting in zero retained ownership. For investors, this is a material liquidity event that removes publicly traded shares and settles equity compensation in cash.
TL;DR: Merger closed with contractual cash consideration; RSUs accelerated and cashed out per agreement terms.
The disclosure confirms the mechanics typical of a merger agreement: stock cancellation at closing and automatic vesting/cash settlement of RSUs at the same per-share price. This indicates the merger agreement included clear cash-out provisions for both outstanding shares and equity awards, ensuring administrative closure of equity positions for insiders.