Two Harbors director exits 95,993 shares at $12
TWO HARBORS INVESTMENT CORP.
Rhea-AI Filing Summary
TWO HARBORS INVESTMENT CORP. (TWO) reported that director Stephen G. Kasnet disposed of all of his common stock in connection with the closing of a merger. On August 25, 2026, 95,993 shares of common stock were cancelled and converted into the right to receive $12.00 in cash per share pursuant to an Agreement and Plan of Merger under which Two Harbors became a wholly owned subsidiary of CrossCountry Intermediate Holdco, LLC. Following this transaction, Kasnet holds 0 shares of common stock and continues to hold 10,000 shares of Series A Preferred Stock as a direct holding.
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Insights
Analyzing...
Insider Trade Summary
Disposition: 95,993 shares
Disposition
2 txns
Insider
KASNET STEPHEN G
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common stock, par value $0.01 per share F1 | 95,993 | $12.00 | $1.15M |
| holding | Series A Preferred Stock, par value $0.01 per share | -- | -- | -- |
Holdings After Transaction:
Common stock, par value $0.01 per share — 0 shares (Direct);
Series A Preferred Stock, par value $0.01 per share — 10,000 shares (Direct)
Footnotes (1)
- F1. Pursuant to the Agreement and Plan of Merger, dated March 27, 2026, by and among Two Harbors Investment Corp. ("TWO"), CrossCountry Intermediate Holdco, LLC ("CCM") and CrossCountry Merger Corp., a wholly owned subsidiary of CCM ("Merger Sub"), as amended, Merger Sub merged with and into TWO, with TWO surviving the merger as a wholly owned subsidiary of CCM (the "CCM Merger"). At the effective time of the CCM Merger (the "Effective Time"), each share of TWO's common stock that was issued and outstanding immediately prior to the Effective Time was automatically cancelled and converted into the right to receive $12.00 in cash.
Key Figures
Common shares disposed: 95,993 shares
Cash consideration per common share: $12.00 per share
Common shares held after transaction: 0 shares
+2 more
5 metrics
Common shares disposed
95,993 shares
Shares of common stock cancelled and converted at the merger effective time
Cash consideration per common share
$12.00 per share
Merger consideration for each share of Two Harbors common stock
Common shares held after transaction
0 shares
Stephen G. Kasnet’s common stock holdings following the disposition to issuer
Series A Preferred Stock holdings
10,000 shares
Directly held Series A Preferred Stock after the reported transactions
Transaction date
August 25, 2026
Date of the disposition of common stock and merger effectiveness for reported holdings
Key Terms
Agreement and Plan of Merger, wholly owned subsidiary, Effective Time, Series A Preferred Stock
4 terms
Agreement and Plan of Merger regulatory
"Pursuant to the Agreement and Plan of Merger, dated March 27, 2026, by and among Two Harbors"
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
wholly owned subsidiary financial
"with TWO surviving the merger as a wholly owned subsidiary of CCM"
A wholly owned subsidiary is a company whose entire ownership is held by another company (the parent), so the parent controls decisions, operations, and finances. Think of it as a fully controlled branch that runs as its own legal entity but whose results flow straight into the parent’s financial statements; investors watch these structures because they affect consolidated revenue, risk exposure, and how profits, liabilities, and cash flow are allocated across the corporate group.
Effective Time regulatory
"At the effective time of the CCM Merger (the "Effective Time"), each share of TWO's common stock"
The exact clock time when a regulatory filing, approval, or corporate action formally becomes legally active; from that moment the change is binding and can be acted on. Investors care because the effective time marks when ownership, rights, trading rules, or new securities take effect — like a light switch turning on a contract or transaction — which determines when risks, benefits and market reactions begin.
Series A Preferred Stock financial
"Series A Preferred Stock, par value $0.01 per share"
Series A preferred stock is a type of ownership share in a company that gives investors certain advantages, such as priority in receiving profits or getting their money back if the company is sold or goes bankrupt. It is often issued during early funding stages to attract investors by offering more security than common shares. This stock matters to investors because it provides a safer way to invest while still holding potential for future gains.
FAQ
What did the Form 4 disclose for TWO (Two Harbors Investment Corp.)?
The Form 4 reports that director Stephen G. Kasnet had 95,993 common shares of Two Harbors cancelled and converted into the right to receive $12.00 in cash per share in connection with a merger, leaving him with no common shares and 10,000 Series A Preferred shares.
Does Stephen G. Kasnet still own any common stock of TWO after the transaction?
No. After the reported transaction, Stephen G. Kasnet’s holdings of Two Harbors common stock are 0 shares. His remaining reported position consists of 10,000 shares of Series A Preferred Stock, held directly.
What preferred stock position in TWO does Stephen G. Kasnet report?
Stephen G. Kasnet reports a direct holding of 10,000 shares of Series A Preferred Stock of Two Harbors Investment Corp. as of the reporting date. This entry is reported as a holding, not as a new acquisition or disposition.
What corporate transaction triggered the change in Stephen G. Kasnet’s TWO holdings?
The change was triggered by a merger under an Agreement and Plan of Merger among Two Harbors Investment Corp., CrossCountry Intermediate Holdco, LLC, and CrossCountry Merger Corp., where the merger subsidiary merged into Two Harbors, making Two Harbors a wholly owned subsidiary of CrossCountry Intermediate Holdco, LLC.
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