U.S. Steel-Nippon Steel $55/Share Merger Closes as Director Cashes Out Position
Rhea-AI Filing Summary
United States Steel Corp (X) Director Terry L. Dunlap reported the disposition of 27,985 shares of common stock on June 18, 2025, following the completion of the company's merger with Nippon Steel North America.
The transaction occurred as part of the previously announced merger agreement dated December 18, 2023, where all shares were converted into the right to receive $55.00 in cash per share at the effective time of the merger. Following the transaction, Dunlap no longer holds any shares of the company.
Key details of the filing:
- Transaction Type: Disposition due to merger completion
- Shares Affected: 27,985 shares of common stock
- Transaction Price: $55.00 per share cash consideration
- Post-Transaction Holdings: 0 shares
- Filing was signed via Power of Attorney by Megan Bombick
Positive
- Director Terry L. Dunlap's 27,985 shares were converted to cash at $55 per share ($1.54M value) as part of Nippon Steel's acquisition of U.S. Steel, representing successful completion of the previously announced merger
Negative
- All of Director Dunlap's equity position in U.S. Steel (27,985 shares) was eliminated due to the merger completion, indicating the end of independent U.S. Steel as a publicly traded company
Insider Trade Summary
Net Seller: 27,985 shares
Net Sell
1 txn
Insider
DUNLAP TERRY L
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | COMMON STOCK | 27,985 | $0.00 | $0.00 |
Holdings After Transaction:
COMMON STOCK — 0 shares (Direct)
Footnotes (2)
- F1. On June 18, 2025, United States Steel Corporation (the "Company") consummated the merger transaction (the "Merger") contemplated by that certain Agreement and Plan of Merger (the "Merger Agreement"), dated as of December 18, 2023, by and among Nippon Steel North America, Inc., a New York corporation ("Parent"), 2023 Merger Subsidiary, Inc., a Delaware corporation and a wholly owned subsidiary of Parent, and the Company. The effective time of the Merger is referred to herein as the "Effective Time".
- F2. Reflects (i) shares of common stock of the Company, par value $1.00 (the "Shares"), held directly by the reporting person and (ii) restricted stock units of the Company held by the reporting person that, in each case, as of immediately prior to the Effective Time, were converted into the right to receive $55 in cash per Share in accordance with the terms of the Merger Agreement.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What position did Terry Dunlap hold at U.S. Steel (X)?
According to the Form 4 filing, Terry Dunlap served as a Director of U.S. Steel Corporation (X), as indicated by the checkbox marked under the 'Relationship of Reporting Person(s) to Issuer' section.
When did U.S. Steel (X) announce its merger agreement with Nippon Steel?
According to the filing's explanatory notes, the merger agreement between U.S. Steel (X) and Nippon Steel North America, Inc. was dated December 18, 2023, with the merger being consummated on June 18, 2025.