YEAMAN ERIC K 4
4 · Alexander & Baldwin, Inc. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Alexander & Baldwin (ALEX) Director Eric Yeaman Receives Cash for RSUs
What Happened
- Eric K. Yeaman, a director of Alexander & Baldwin, had restricted stock units cancelled and converted into cash as part of the March 12, 2026 merger. The Form 4 shows two dispositions to the issuer: 9,513 shares and 72,014 shares (total 81,527 shares).
- Although the Form 4 lists $0.00 per share (disposition to issuer), the Merger Agreement converted each share into $20.85 in cash (the Merger Consideration). That equals approximately $1,699,837.95 before applicable withholding and plus any accrued dividend equivalents.
Key Details
- Transaction date: March 12, 2026; Form 4 filed March 16, 2026 (timely within the two business‑day reporting window).
- Reported dispositions: 9,513 shares and 72,014 shares; Price on Form 4: $0.00 (shares cancelled). Merger cash price: $20.85/share.
- Approximate cash value: 81,527 shares × $20.85 = $1,699,837.95 (subject to withholding and any adjustments for accrued dividend equivalents).
- Shares owned after transaction: not specified in the filing.
- Footnotes: RSU awards that vested only on service were cancelled and converted to cash per the Merger Agreement; cash payments are subject to applicable tax withholding.
Context
- This was a merger cash‑out (corporate transaction), not an open‑market sale; such conversions are routine and reflect the deal terms rather than an insider trading decision.
- Treat this as a liquidity event for equity awards rather than an expression of buy/sell sentiment by the director.
Insider Transaction Report
Form 4Exit
YEAMAN ERIC K
Director
Transactions
- Disposition to Issuer
Common Stock
[F1]2026-03-12−9,513→ 72,014 total - Disposition to Issuer
Common Stock
[F2]2026-03-12−72,014→ 0 total
Footnotes (2)
- [F1]Pursuant to the terms and conditions of the Merger Agreement, at the Effective Time, each restricted stock unit award with vesting solely subject to service-based conditions held by a non-employee director ("Director RSU Award") that was outstanding as of immediately prior to the Effective Time was cancelled and converted into the right to receive an amount in cash (subject to applicable withholding taxes) equal to the product of (i) the aggregate number of shares of Issuer's common stock subject to such Director RSU Award immediately prior to the Effective Time and (ii) the Merger Consideration, plus any accrued and unpaid dividend equivalents corresponding to such Director RSU Award. [See FN (2) for other defined terms]
- [F2]On March 12, 2026, under the terms of the Agreement and Plan of Merger (the "Merger Agreement"), dated as of December 8, 2025, by and among Alexander & Baldwin, Inc. ("Issuer"), Tropic Purchaser LLC ("Parent") and Tropic Merger Sub LLC, a wholly owned subsidiary of Parent ("Merger Sub"), Issuer merged with and into Merger Sub (the "Merger") and the separate existence of Issuer ceased and Merger Sub survived as a wholly owned subsidiary of Parent. Under the terms and subject to the conditions in the Merger Agreement, at the effective time of the Merger (the "Effective Time") each share of Issuer's common stock that was issued and outstanding immediately prior to the Effective Time (other than any shares held by Issuer, any subsidiary of Issuer, Parent or Merger Sub) was automatically cancelled and converted into the right to receive an amount in cash equal to $20.85, without interest and less any applicable withholding taxes (the "Merger Consideration").
Signature
/s/ Eric K. Yeaman|2026-03-12