11/04/2024 | Press release | Distributed by Public on 11/04/2024 16:08
FORM 4
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |
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 control number. | SEC 1474 (9-02) |
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 Underlying Securities (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 of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Non-Qualified Stock Option (right to buy) | $85.98 | 11/04/2024 | D(2) | 4,720 | (2) | 05/01/2025 | Common Stock | 4,720 | $ 0 (2) | 0 | D | ||||
Non-Qualified Stock Option (right to buy) | $62.04 | 11/04/2024 | D(2) | 5,238 | (2) | 03/01/2026 | Common Stock | 5,238 | $ 0 (2) | 0 | D | ||||
Non-Qualified Stock Option (right to buy) | $48.59 | 11/04/2024 | D(2) | 4,326 | (2) | 03/12/2027 | Common Stock | 4,326 | $13.41(2) | 0 | D | ||||
Restricted Stock Units | (3) | 11/04/2024 | D(4) | 8,569 | (4) | (4) | Common Stock | 8,569 | $62(4) | 0 | D | ||||
Performance-Based Restricted Stock Units | (5) | 11/04/2024 | D(6) | 4,199 | (6) | (6) | Common Stock | 4,199 | $62(6) | 0 | D |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
Hoffman Richard J 2355 WAUKEGAN ROAD BANNOCKBURN, IL 60015 |
SVP & CHIEF ACCOUNTING OFFICER |
/s/ Stuart Funderburg, Attorney-in-Fact | 11/04/2024 |
**Signature of Reporting Person | Date |
* | 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). |
(1) | Pursuant to the Agreement and Plan of Merger, dated as of June 3, 2024 (the "Merger Agreement"), by and among Stericycle, Inc. (the "Company"), Waste Management, Inc. ("Waste Management") and Stag Merger Sub Inc., at the effective time (the "Effective Time") of the merger of Stag Merger Sub Inc. with and into the Company, which Effective Time occurred on November 4, 2024, each outstanding share of Company common stock was converted into the right to receive $62.00 per share in cash, without interest (the "Merger Consideration"). |
(2) | This stock option was fully vested immediately prior to the Effective Time. Pursuant to the Merger Agreement, at the Effective Time, each Company stock option that was fully vested and outstanding immediately prior to the Effective Time was canceled and converted into the right to receive (without interest) an amount of cash equal to the product of (i) the number of shares underlying the stock option multiplied by (ii) the excess, if any, of $62.00 over the exercise price of such stock option. |
(3) | Each restricted stock unit ("RSU") represents the right to receive, at settlement, one share of common stock. |
(4) | At the Effective Time, these RSUs were assumed by Waste Management and converted into an award of Waste Management RSUs. The number of Waste Management RSUs was determined by multiplying the number of Company RSUs by the quotient obtained by dividing the (a) Merger Consideration by (b) an amount equal to the average of the closing sale prices of a share of Waste Management common stock as reported on the New York Stock Exchange for each of the five consecutive trading days ending with the complete trading day immediately before (and excluding) the closing date. |
(5) | Each performance-based restricted stock unit ("PRSU") represents the right to receive, at settlement, one share of common stock. |
(6) | At the Effective Time, these PRSUs were assumed by Waste Management and converted into an award of Waste Management RSUs. The number of Waste Management RSUs was determined by multiplying the target number of Company PRSUs by the quotient obtained by dividing the (a) Merger Consideration by (b) an amount equal to the average of the closing sale prices of a share of Waste Management common stock as reported on the New York Stock Exchange for each of the five consecutive trading days ending with the complete trading day immediately before (and excluding) the closing date. |