STOCK TITAN

[Form 4] SunLink Health Systems, Inc Insider Trading Activity

Filing Impact
(Low)
Filing Sentiment
(Neutral)
Form Type
4

Insider dispositions and merger conversion reported for SunLink Health Systems, Inc. (SSY). Gene E. Burleson reported that on 08/14/2025 he disposed of 81,601 shares of SunLink common stock and an additional 10,000 shares that were held indirectly, leaving zero shares beneficially owned directly after the transactions. A director stock option for 5,000 shares (exercise price $1.79) was disposed/terminated in the same transaction.

The filing explains these changes arose at the effective time of a merger between SunLink and Regional Health Properties, Inc.: each five SunLink shares were converted into the right to receive 1.1330 shares of Regional common stock and one share of Series D 8% cumulative convertible redeemable participating preferred stock of Regional. The form was signed by power of attorney on 08/14/2025.

Segnalate cessioni da parte di insider e conversione in seguito a fusione per SunLink Health Systems, Inc. (SSY). Gene E. Burleson ha dichiarato che il 14/08/2025 ha ceduto 81.601 azioni ordinarie di SunLink e ulteriori 10.000 azioni detenute indirettamente, rimanendo con zero azioni possedute beneficiariamente in modo diretto dopo le operazioni. Nella stessa transazione è stata inoltre ceduta/annullata un'opzione azionaria da amministratore per 5.000 azioni (prezzo di esercizio 1,79 USD).

La comunicazione precisa che tali variazioni sono avvenute al momento dell'efficacia della fusione tra SunLink e Regional Health Properties, Inc.: ogni cinque azioni SunLink sono state convertite nel diritto a ricevere 1,1330 azioni ordinarie di Regional e una azione della Series D 8% cumulative convertible redeemable participating preferred stock di Regional. Il documento è stato firmato per procura il 14/08/2025.

Notificadas enajenaciones de insider y conversión por fusión para SunLink Health Systems, Inc. (SSY). Gene E. Burleson informó que el 14/08/2025 dispuso de 81.601 acciones ordinarias de SunLink y otras 10.000 acciones que poseía de forma indirecta, quedando con cero acciones de propiedad beneficiaria directa tras las transacciones. En la misma operación se dispuso/terminó una opción de acciones de director por 5.000 acciones (precio de ejercicio 1,79 USD).

El formulario explica que estos cambios se produjeron en el momento efectivo de la fusión entre SunLink y Regional Health Properties, Inc.: cada cinco acciones de SunLink se convirtieron en el derecho a recibir 1,1330 acciones ordinarias de Regional y una acción de la Series D 8% cumulative convertible redeemable participating preferred stock de Regional. El documento fue firmado por poder el 14/08/2025.

SunLink Health Systems, Inc. (SSY)의 내부자 처분 및 합병에 따른 전환이 보고되었습니다. Gene E. Burleson는 2025-08-14에 SunLink 보통주 81,601주와 간접 보유하던 추가 10,000주를 처분하여 거래 후 직접적으로 유익소유한 주식이 0주가 되었다고 보고했습니다. 동일 거래에서 이사 스톡옵션 5,000주(행사가 1.79 USD)가 처분/종료되었습니다.

신고서에는 이러한 변경이 SunLink와 Regional Health Properties, Inc. 간의 합병 효력 발생 시에 이루어졌다고 설명되어 있습니다. SunLink 5주마다 Regional 보통주 1.1330주와 Regional의 Series D 8% 누적 전환상환참여 우선주 1주를 받을 권리로 전환되었습니다. 서류는 2025-08-14에 위임장으로 서명되었습니다.

Cessions d'initiés et conversion liée à une fusion déclarées pour SunLink Health Systems, Inc. (SSY). Gene E. Burleson a déclaré que le 14/08/2025 il a cédé 81 601 actions ordinaires SunLink et 10 000 actions supplémentaires détenues indirectement, ne détenant plus aucune action en propriété bénéficiaire directe après les opérations. Dans la même transaction, une option d'administrateur portant sur 5 000 actions (prix d'exercice 1,79 USD) a été cédée/annulée.

Le dépôt précise que ces changements sont intervenus à la date d'effet de la fusion entre SunLink et Regional Health Properties, Inc. : chaque tranche de cinq actions SunLink a été convertie en droit de recevoir 1,1330 actions ordinaires de Regional et une action de la Series D 8% cumulative convertible redeemable participating preferred stock de Regional. Le formulaire a été signé par procuration le 14/08/2025.

Insider-Veräußerungen und Umwandlung im Zuge einer Fusion für SunLink Health Systems, Inc. (SSY) gemeldet. Gene E. Burleson meldete, dass er am 14.08.2025 81.601 SunLink-Stammaktien und weitere 10.000 indirekt gehaltene Aktien veräußert hat, und nach den Transaktionen direkt keine Aktien mehr begünstigt besitzt. In derselben Transaktion wurde eine Direktoren-Aktienoption über 5.000 Aktien (Ausübungspreis 1,79 USD) veräußert/beendet.

Die Meldung erläutert, dass diese Änderungen zum wirksamen Zeitpunkt der Fusion zwischen SunLink und Regional Health Properties, Inc. erfolgten: Je fünf SunLink-Aktien wurden in das Recht auf Erhalt von 1,1330 Regional-Stammaktien und einer Aktie der Series D 8% cumulative convertible redeemable participating preferred stock von Regional umgewandelt. Das Formular wurde am 14.08.2025 per Vollmacht unterzeichnet.

Positive
  • None.
Negative
  • Large disposals reported: 81,601 directly held shares and 10,000 indirectly held shares were disposed on 08/14/2025, leaving zero direct ownership.
  • Director option terminated: A 5,000-share director stock option (exercise price $1.79) was reported as terminated in the merger.

Insights

TL;DR: Significant insider disposals and option termination coinciding with a merger reduce direct insider holdings to zero.

The reporting shows a complete direct exit from SunLink common stock by the reporting person following the merger conversion mechanics described. The termination of a 5,000-share director option and the disposal of both directly and indirectly held shares are material ownership changes for governance monitoring. These are documented as resulting from the merger exchange, not routine open-market trades, which is an important distinction for review of related-party and post-merger governance structure.

TL;DR: Transactions reflect merger consideration and elimination of prior direct equity and option positions.

The Form 4 records disposals of 81,601 directly held shares and 10,000 indirectly held shares on 08/14/2025, and termination of a 5,000-share option. The filing states the share conversion ratio: five SunLink shares converted into 1.1330 Regional common shares plus one Series D preferred per five shares. For investors, these are significant changes in insider holdings tied to corporate reorganization rather than discrete sales.

Segnalate cessioni da parte di insider e conversione in seguito a fusione per SunLink Health Systems, Inc. (SSY). Gene E. Burleson ha dichiarato che il 14/08/2025 ha ceduto 81.601 azioni ordinarie di SunLink e ulteriori 10.000 azioni detenute indirettamente, rimanendo con zero azioni possedute beneficiariamente in modo diretto dopo le operazioni. Nella stessa transazione è stata inoltre ceduta/annullata un'opzione azionaria da amministratore per 5.000 azioni (prezzo di esercizio 1,79 USD).

La comunicazione precisa che tali variazioni sono avvenute al momento dell'efficacia della fusione tra SunLink e Regional Health Properties, Inc.: ogni cinque azioni SunLink sono state convertite nel diritto a ricevere 1,1330 azioni ordinarie di Regional e una azione della Series D 8% cumulative convertible redeemable participating preferred stock di Regional. Il documento è stato firmato per procura il 14/08/2025.

Notificadas enajenaciones de insider y conversión por fusión para SunLink Health Systems, Inc. (SSY). Gene E. Burleson informó que el 14/08/2025 dispuso de 81.601 acciones ordinarias de SunLink y otras 10.000 acciones que poseía de forma indirecta, quedando con cero acciones de propiedad beneficiaria directa tras las transacciones. En la misma operación se dispuso/terminó una opción de acciones de director por 5.000 acciones (precio de ejercicio 1,79 USD).

El formulario explica que estos cambios se produjeron en el momento efectivo de la fusión entre SunLink y Regional Health Properties, Inc.: cada cinco acciones de SunLink se convirtieron en el derecho a recibir 1,1330 acciones ordinarias de Regional y una acción de la Series D 8% cumulative convertible redeemable participating preferred stock de Regional. El documento fue firmado por poder el 14/08/2025.

SunLink Health Systems, Inc. (SSY)의 내부자 처분 및 합병에 따른 전환이 보고되었습니다. Gene E. Burleson는 2025-08-14에 SunLink 보통주 81,601주와 간접 보유하던 추가 10,000주를 처분하여 거래 후 직접적으로 유익소유한 주식이 0주가 되었다고 보고했습니다. 동일 거래에서 이사 스톡옵션 5,000주(행사가 1.79 USD)가 처분/종료되었습니다.

신고서에는 이러한 변경이 SunLink와 Regional Health Properties, Inc. 간의 합병 효력 발생 시에 이루어졌다고 설명되어 있습니다. SunLink 5주마다 Regional 보통주 1.1330주와 Regional의 Series D 8% 누적 전환상환참여 우선주 1주를 받을 권리로 전환되었습니다. 서류는 2025-08-14에 위임장으로 서명되었습니다.

Cessions d'initiés et conversion liée à une fusion déclarées pour SunLink Health Systems, Inc. (SSY). Gene E. Burleson a déclaré que le 14/08/2025 il a cédé 81 601 actions ordinaires SunLink et 10 000 actions supplémentaires détenues indirectement, ne détenant plus aucune action en propriété bénéficiaire directe après les opérations. Dans la même transaction, une option d'administrateur portant sur 5 000 actions (prix d'exercice 1,79 USD) a été cédée/annulée.

Le dépôt précise que ces changements sont intervenus à la date d'effet de la fusion entre SunLink et Regional Health Properties, Inc. : chaque tranche de cinq actions SunLink a été convertie en droit de recevoir 1,1330 actions ordinaires de Regional et une action de la Series D 8% cumulative convertible redeemable participating preferred stock de Regional. Le formulaire a été signé par procuration le 14/08/2025.

Insider-Veräußerungen und Umwandlung im Zuge einer Fusion für SunLink Health Systems, Inc. (SSY) gemeldet. Gene E. Burleson meldete, dass er am 14.08.2025 81.601 SunLink-Stammaktien und weitere 10.000 indirekt gehaltene Aktien veräußert hat, und nach den Transaktionen direkt keine Aktien mehr begünstigt besitzt. In derselben Transaktion wurde eine Direktoren-Aktienoption über 5.000 Aktien (Ausübungspreis 1,79 USD) veräußert/beendet.

Die Meldung erläutert, dass diese Änderungen zum wirksamen Zeitpunkt der Fusion zwischen SunLink und Regional Health Properties, Inc. erfolgten: Je fünf SunLink-Aktien wurden in das Recht auf Erhalt von 1,1330 Regional-Stammaktien und einer Aktie der Series D 8% cumulative convertible redeemable participating preferred stock von Regional umgewandelt. Das Formular wurde am 14.08.2025 per Vollmacht unterzeichnet.

SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
X
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
BURLESON GENE E

(Last) (First) (Middle)
320 ARGONNE DR

(Street)
ATLANTA GA 30305-2814

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SUNLINK HEALTH SYSTEMS INC [ SSY ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
Officer (give title below) X Other (specify below)
Former Director
3. Date of Earliest Transaction (Month/Day/Year)
08/14/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/14/2025 D 81,601 D (1) 0 D
Common Stock 08/14/2025 D 10,000 D (1) 0 I Eugene E. Burleson Family Trust; Spouse as Trustee
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Director Stock Option $1.79 08/14/2025 D 5,000 09/10/2015 09/10/2025 Common Stock 5,000 $0 0(2) D
Explanation of Responses:
1. At the effective time of the merger (the "Effective Time") between SunLink Health Systems, Inc. ("SunLink") and Regional Health Properties, Inc. ("Regional"), each five shares of Common Stock, no par value per share, of SunLink held by the Reporting Person prior to the Effective Time were converted into the right to receive (i) 1.1330 shares of Common Stock, no par value per share, of Regional, and (ii) one share of Series D 8% Cumulative Convertible Redeemable Participating Preferred Shares, no par value per share, of Regional.
2. This option was terminated in the merger.
M. Timothy Elder, pursuant to a power of attorney 08/14/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What transactions did Gene E. Burleson report on Form 4 for SSY?

He reported disposals of 81,601 directly held SunLink common shares and 10,000 indirectly held shares on 08/14/2025, and the termination of a 5,000-share director option.

Why were the shares and option disposed of according to the filing?

The filing attributes the changes to a merger between SunLink and Regional Health Properties, where SunLink shares were converted into Regional securities under the stated conversion terms.

What conversion terms does the Form 4 disclose for the merger?

Each five SunLink common shares were converted into the right to receive 1.1330 shares of Regional common stock and one share of Series D 8% cumulative convertible redeemable participating preferred stock of Regional.

After the reported transactions, how many SunLink shares does the reporting person beneficially own?

The Form 4 reports zero shares beneficially owned directly following the reported transactions.

When were these transactions reported?

The transactions and power of attorney signature are dated 08/14/2025.
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Pharmaceutical Retailers
Services-general Medical & Surgical Hospitals, Nec
Link
United States
ATLANTA