Surmodics (SRDX) Form 4 details $43 per-share merger payout
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Surmodics Inc. (SRDX) reported a Form 4 transaction for its SVP of HR and President IVD tied to the closing of its merger with BCE Parent, LLC. At the merger effective time, each share of Surmodics common stock was cancelled and converted into the right to receive $43.00 per share in cash, subject to tax withholding. All restricted stock units held by the insider vested immediately before the effective time and are also entitled to the same cash consideration. Following the merger, the insider reported owning 0 shares of common stock.
The filing also shows that multiple employee stock options with exercise prices ranging from $33.64 to $56.63 per share were cancelled on 11/19/2025 and converted into cash rights equal to the in-the-money value, again subject to tax withholding.
Positive
- None.
Negative
- None.
Insider Trade Summary
7 transactions reported
Mixed
7 txns
Insider
Stich Joseph J.
Role
SVP of HR, President IVD
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Employee Stock Option (right to buy) | 12,292 | $0.00 | -- |
| Disposition | Employee Stock Option (right to buy) | 15,668 | $0.00 | -- |
| Disposition | Employee Stock Options (right to buy) | 17,883 | $0.00 | -- |
| Disposition | Employee Stock Option (right to buy) | 18,337 | $0.00 | -- |
| Disposition | Employee Stock Option (right to buy) | 19,243 | $0.00 | -- |
| Disposition | Employee Stock Option (right to buy) | 20,101 | $0.00 | -- |
| Disposition | Common Stock | 61,631 | $0.00 | -- |
Holdings After Transaction:
Employee Stock Option (right to buy) — 0 shares (Direct);
Employee Stock Options (right to buy) — 0 shares (Direct);
Common Stock — 0 shares (Direct)
Footnotes (1)
- Pursuant to that certain Merger Agreement, dated as of May 28, 2024, by and among the Surmodics, Inc. (the "Issuer"), BCE Parent, LLC, ("Parent"), and BCE Merger Sub, Inc. ("Merger Sub"), Merger Sub merged with and into the Issuer (the "Merger"), with Issuer surviving the Merger as a wholly owned subsidiary of Parent. At the effective time of the Merger (the "Effective Time"), each share of the Issuer's common stock, par value $0.05 per share ("Common Stock"), that was issued and outstanding immediately prior to the Effective Time was automatically cancelled and converted into the right to receive $43.00 per share in cash, without interest and subject to any applicable tax withholdings (the "Merger Consideration"). All outstanding restricted stock units ("RSUs") held by the reporting person vested immediately prior to the Effective Time and the reporting person is entitled to receive the Merger Consideration for such vested RSUs. As a result of the Merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of Common Stock. Pursuant to the Merger Agreement, at the Effective Time, this unexercised stock option ("Option") was cancelled and automatically converted into the right to receive an amount in cash (without interest) equal to the product of (a) the aggregate number of shares of Common Stock subject to the Option immediately prior to the Effective Time, multiplied by (b) the excess, if any, of the Merger Consideration over such Option's applicable per share exercise price, subject to any required tax withholdings.
FAQ
What did Surmodics (SRDX) disclose in this Form 4 filing?
The filing shows that a Surmodics executive’s common stock, RSUs, and stock options were cancelled and converted into cash rights when Surmodics completed its merger with BCE Parent, LLC.
Does the reporting person still own Surmodics (SRDX) common stock after the merger?
No. The Form 4 states that, as a result of the merger, the reporting person no longer beneficially owns, directly or indirectly, any shares of Surmodics common stock.
How were the reporting person’s restricted stock units (RSUs) treated in the Surmodics merger?
All RSUs held by the reporting person vested immediately prior to the effective time of the merger, and the holder is entitled to receive the $43.00 per-share cash consideration for those vested RSUs.
What happened to the Surmodics employee stock options reported in this Form 4?
Unexercised employee stock options with exercise prices between $33.64 and $56.63 per share were cancelled at the merger effective time and converted into cash equal to the number of underlying shares multiplied by the excess of $43.00 over the option’s exercise price, if any, subject to tax withholdings.
What is the relationship of the reporting person to Surmodics (SRDX)?
The reporting person is an officer of Surmodics, serving as SVP of HR, President IVD, and filed this Form 4 as an individual reporting person.
What is the transaction date reported in this Surmodics (SRDX) Form 4?
The earliest transaction date reported for the merger-related equity cancellations and conversions is 11/19/2025.