WideOpenWest (WOW) CFO Form 4 details $5.20 cash merger payout
Rhea-AI Filing Summary
WideOpenWest, Inc. insider Form 4 details merger-related equity payout. The company’s Chief Financial Officer reported equity transactions tied to the closing of the merger with Bandit Parent, LP and Bandit Merger Sub, Inc. On 12/29/2025, performance-based restricted stock units granted in 2023, 2024 and 2025 were determined to be earned in the amount of 137,412 shares. At the merger’s Effective Time on 12/31/2025, each outstanding share of WideOpenWest common stock was automatically converted into the right to receive $5.20 per share in cash, and the insider’s 311,110 shares were disposed of at that price, leaving no common stock beneficially owned. All restricted stock awards and PSUs were cancelled and converted into cash rights based on the same merger consideration, either payable shortly after closing or subject to the original vesting terms.
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Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Common Stock | 311,110 | $5.20 | $1.62M |
| Grant/Award | Common Stock | 137,412 | $0.00 | -- |
Footnotes (1)
- In connection with the consummation of the transactions contemplated by the Agreement and Plan of Merger, dated as of August 11, 2025 (the "Merger Agreement"), by and among WideOpenWest, Inc. (the "Issuer"), Bandit Parent, LP, a Delaware limited partnership ("Parent"), and Bandit Merger Sub, Inc., a Delaware corporation and an indirect wholly owned subsidiary of Parent ("Merger Sub"), pursuant to which Merger Sub merged with and into the Issuer on December 31, 2025, with the Issuer continuing after the merger as a wholly owned indirect subsidiary of Parent (the effective time of such merger, the "Effective Time"). Pursuant to the Merger Agreement, on December 29, 2025, the Compensation Committee determined the performance-based restricted stock units ("PSUs") granted in 2023, 2024 and 2025 under the Company's equity incentive plan were earned in the amount set forth above. At the Effective Time, in accordance with the terms set forth in the Merger Agreement, each issued and outstanding share of common stock of the Company, par value $0.01 per share ("Company Common Stock") (except for shares directly owned by the Company as treasury stock or otherwise, or by Parent or Merger Sub immediately prior to the Effective Time, including any shares of Company Common Stock which were contributed to Parent by certain stockholders of the Company (the "Rollover Stockholders") in accordance with the voting, (continued on footnote 4). (continued from footnote 3) support and rollover agreement by and among the Rollover Stockholders, the Company and Parent, dated as of the date of the Merger Agreement (the "Support and Rollover Agreement," and such shares, the "Rollover Shares"), or by any holder who was entitled to demand appraisal and properly exercised such appraisal rights pursuant to Section 262 of the General Corporation Law of the State of Delaware, which, in each case, were treated as described in the Merger Agreement), was automatically converted into the right to receive $5.20 per share in cash, without interest (the "Merger Consideration"), subject to any required tax withholding. At the Effective Time, in accordance with the terms set forth in the Merger Agreement, each outstanding restricted stock award ("RSA") and PSU was cancelled and converted into either, as applicable, (i) the right to receive the Merger Consideration shortly after the Effective Time or (ii) a cash award based on the Merger Consideration subject to vesting in accordance with the underlying equity award's vesting terms.
FAQ
What insider transaction did WOW’s Chief Financial Officer report on this Form 4?
The Chief Financial Officer of WideOpenWest, Inc. (WOW) reported merger-related equity activity, including 137,412 performance-based restricted stock units being earned and the disposition of 311,110 shares of common stock in connection with the closing of the merger with Bandit Parent, LP.
What happened to WOW performance-based restricted stock units (PSUs) in this transaction?
On 12/29/2025, the Compensation Committee determined that performance-based restricted stock units granted in 2023, 2024 and 2025 were earned in the amount of 137,412 shares. At the merger’s Effective Time, each outstanding PSU was cancelled and converted into a right to receive cash based on the $5.20 merger consideration, either shortly after closing or subject to existing vesting terms.
How were WOW restricted stock awards (RSAs) and PSUs treated at the Effective Time of the merger?
At the Effective Time, each outstanding restricted stock award (RSA) and PSU was cancelled and converted into either (i) a right to receive the $5.20 per share merger consideration shortly after the Effective Time or (ii) a cash award based on the merger consideration that continues to vest according to the underlying award’s vesting schedule.
Did the reporting person have any WOW common stock beneficially owned after the merger transaction?
No. Following the disposition of 311,110 shares of common stock at $5.20 per share on 12/31/2025, the Form 4 reports that the amount of common stock beneficially owned by the reporting person was 0 shares, held directly.
What corporate transaction involving WOW is referenced in this Form 4 filing?
The Form 4 references the consummation of the transactions under the Agreement and Plan of Merger dated August 11, 2025 among WideOpenWest, Inc., Bandit Parent, LP, and Bandit Merger Sub, Inc., pursuant to which Merger Sub merged with and into WideOpenWest on December 31, 2025, with WideOpenWest becoming an indirect wholly owned subsidiary of Bandit Parent, LP.