Herkes Anne Ruth 4
4 · Brookfield Business Corp · Filed Mar 31, 2026
Research Summary
AI-generated summary of this filing
Brookfield Business (BBU) Director Anne Herkes Sells Shares
What Happened
Anne Herkes, a director of Brookfield Business Corp (BBU), recorded dispositions on March 27, 2026: 1,106 BBU shares and 12,581 derivative units were transferred to the issuer. No per-share price or cash value is reported on the Form 4 (amounts shown as N/A). These transfers were not open-market sales but were made pursuant to a court‑approved plan of arrangement that converted BBU units and related exchangeable shares into class A subordinated voting shares of the new corporation.
Key Details
- Transaction date: March 27, 2026; Form 4 filed March 31, 2026 (filed timely).
- Reported dispositions: 1,106 shares (direct) and 12,581 derivative units (listed as derivative/“D” on the form). Total units transferred = 13,687.
- Price/Value: Not specified on the Form 4 (listed as N/A).
- Shares owned after transaction: Not specified in the excerpt provided (see the full Form 4 for post‑transaction holdings).
- Footnotes: F1/F2 explain these transfers were part of a November 6, 2025 arrangement that exchanged BBU units and BBHC exchangeable shares for class A subordinated voting shares of the reorganized corporation. The 12,581 line relates to BBHC exchangeable shares that were exchangeable into BBU units prior to the arrangement.
Context: These dispositions reflect a corporate reorganization (conversion/exchange under a court‑approved arrangement), not a typical insider market sale. Such transfers are administrative/structural in nature and do not necessarily signal the director’s view on the company’s prospects.
Insider Transaction Report
- Disposition to Issuer
Non-Voting Limited Partnership Units
[F1]2026-03-27−1,106→ 0 total - Disposition to Issuer
Class A Exchangeable Subordinate Voting Shares
[F2][F1]2026-03-27−12,581→ 0 total→ Non-Voting Limited Partnership Units (12,581 underlying)
Footnotes (2)
- [F1]On March 27, 2026, pursuant to an arrangement agreement dated as of November 6, 2025, Brookfield Business Partners L.P. ("BBU"), Brookfield Business Holdings Corporation (formerly Brookfield Business Corporation) ("BBHC") and Brookfield Business Corporation (formerly 1559985 B.C. Ltd.) (the "Corporation") completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"), pursuant to which, among other things, holders of non-voting limited partnership units of BBU (the "BBU Units") and holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares") received class A subordinated voting shares of the Corporation in exchange for their BBU Units and BBHC Exchangeable Shares on a one-for-one basis. As a result of the Arrangement, BBU and BBHC became subsidiaries of the Corporation. This Form 4 represents BBU Units and BBHC Exchangeable Shares transacted pursuant to the Arrangement.
- [F2]Represents BBHC Exchangeable Shares which, prior to the Arrangement, were exchangeable into BBU Units on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BBU). Pursuant to the Arrangement, the BBHC Exchangeable Shares were exchanged for class A subordinated voting shares of the Corporation on a one-for-one basis.