Carter Kevin A. 4
4 · Quipt Home Medical Corp. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Quipt (QIPT) Director Kevin A. Carter Sells Shares in Takeover
What Happened
Kevin A. Carter, a director of Quipt Home Medical Corp. (QIPT), disposed of common shares and derivative securities on March 16, 2026 as part of a court-approved arrangement under which the company was acquired. He sold 201,160 common shares to the purchaser for US$3.65 per share, receiving $734,234 in cash. The filing also shows a disposition of 5,625 derivative units (reported as N/A per-share) related to equity awards/options under the same arrangement. Separately, 76,732 restricted share units (RSUs) held by Mr. Carter were forfeited and terminated immediately prior to the effective time.
Key Details
- Transaction date and filing: March 16, 2026 (Form 4 filed same day).
- Common shares sold: 201,160 @ US$3.65 = $734,234 cash.
- Derivative securities disposed: 5,625 units (per-share cash amount not listed in the filing).
- RSUs forfeited: 76,732 RSUs terminated immediately prior to the effective time (footnote).
- Reason: Dispositions occurred under a business combination/arrangement where each share (except dissenting shareholders) was converted into the right to receive US$3.65 in cash. Options outstanding were cashed out for the excess of $3.65 over exercise price or cancelled if exercise price ≥ $3.65 (per footnotes).
- Shares owned after transaction: not specified in the filing.
- Timeliness: Filing shows transaction and report date the same day (no late filing noted).
Context
These sales were part of a corporate acquisition arrangement that converted shares and certain equity awards into cash consideration. That means this transaction is a takeover-related cash-out rather than a voluntary open-market sale by the director, and reflects deal terms (payment of $3.65/share and cash-out/cancellation of options/RSUs) rather than a trading decision.
Insider Transaction Report
- Disposition to Issuer
Common Shares
[F1][F2]2026-03-16$3.65/sh−201,160$734,234→ 0 total - Disposition to Issuer
Stock Option (Right to Buy)
[F3]2026-03-16−5,625→ 0 totalExercise: $6.27→ Common Shares (5,625 underlying)
Footnotes (3)
- [F1]On March 16, 2026, 1567208 B.C. LTD, a company existing under the laws of British Columbia ("B.C. Purchaser"), and REM Aggregator, LLC, a Delaware limited liability company (individually, "REM Aggregator", and collectively with B.C. Purchaser ("Purchaser" or "Purchasers") acquired all of the issued and outstanding common shares (the "Shares") of Issuer under a plan of arrangement (the "Arrangement Agreement") pursuant to the Business Corporations Act (British Columbia) (the "BCBCA"). At the Effective Time (the "Effective Time") of the Arrangement Agreement each Share, other than any Shares held by shareholders who properly exercised dissent rights under the BCBCA ("Dissenting Shareholders"), were deemed to be transferred to Purchaser in consideration for the right to receive a cash payment from the Purchaser in the amount equal to US$3.65, without interest.
- [F2]Pursuant to a forfeiture agreement entered into by Issuer and Mr. Carter, 76,732 restricted share units ("RSUs") were forfeited immediately prior to the Effective Time and terminated in connection with the Arrangement Agreement. Each RSU is the economic equivalent of one Share.
- [F3]Pursuant to the terms of the Arrangement Agreement, immediately following the Effective Time, each option exercisable to acquire one or more Shares from the Issuer (an "Option"), outstanding immediately prior to the Effective Time (whether vested or unvested) were deemed to be unconditionally vested and exercisable and will, without any further action by or on behalf of a holder of the Option, deemed to be surrendered and transferred by such holder to the Issuer in consideration for the right to receive a cash payment from the Issuer in an amount equal to the excess, if any, of US$3.65 over the exercise price of such option, less any amounts the Issuer is required to withhold for taxes, without interest. Any option for which the exercise price is equal to or greater than US$3.65 will be cancelled for no consideration.