KEATING LESLIE STARR 4
4 · SunOpta Inc. · Filed May 4, 2026
Research Summary
AI-generated summary of this filing
SunOpta (STKL) Director Leslie Keating Starr Sells Shares
What Happened Leslie Keating Starr, a director of SunOpta Inc. (STKL), had dispositions of a total of 193,881 common-share equivalents on May 1, 2026. The filing reports three dispositions to the issuer: 148,311 common shares and two derivative dispositions totalling 45,570 units (39,740 and 5,830). Under the court‑approved arrangement, each share or share-equivalent was cashed out at $6.50 per share, yielding approximately $1.26 million in aggregate proceeds (before any applicable withholdings).
Key Details
- Transaction date: May 1, 2026; Form 4 filed May 4, 2026 (timely within required business-day window).
- Consideration: $6.50 per share under the deal (Arrangement); total proceeds ≈ $1,260,226.50 before withholdings.
- Counts: 148,311 common shares; 39,740 and 5,830 derivative units (total 193,881).
- Shares owned after the transaction: not specified in the supplied filing details.
- Filing type: Dispositions to the issuer (code D). Derivative items represent RSUs/options surrendered for cash per the transaction.
- Notable footnotes: The transactions occurred as part of a court‑approved plan of arrangement in which Purchaser acquired all common shares for $6.50/share. RSUs were surrendered for cash equal to $6.50/share (F2–F3). Stock options were either cashed out for the intrinsic value (if any) or cancelled if their strike was ≥ $6.50 (F4).
Context These were not open‑market sales but a cash‑out under a merger/arrangement (a corporate takeover), so they reflect the deal consideration rather than a voluntary market sale by the director. Derivative holdings (RSUs and options) were settled for cash under the arrangement terms rather than exercised into continuing stock ownership.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1]2026-05-01−148,311→ 0 total - Disposition to Issuer
Restricted Stock Unit (RSU)
[F2][F3]2026-05-01−39,740→ 0 total→ Common Stock (39,740 underlying) - Disposition to Issuer
Stock Option (right to buy Common Stock)
[F4]2026-05-01−5,830→ 0 totalExercise: $3.25From: 2021-05-08Exp: 2030-05-08→ Common Stock (5,830 underlying)
Footnotes (4)
- [F1]Pursuant to the Arrangement Agreement (the "Arrangement Agreement"), dated as of February 6, 2026, by and among SunOpta Inc. ("SunOpta"), Pegasus BidCo B.V. ("Parent") and 2786694 Alberta Ltd. ("Purchaser"), Purchaser acquired all of SunOpta's issued and outstanding common shares in the capital of SunOpta (the "Common Shares") by way of a court-approved statutory plan of arrangement under Section 192 of the Canada Business Corporations Act (the "Arrangement"). At the effective time of the Arrangement (the "Effective Time"), each of SunOpta's issued and outstanding Common Shares were transferred to Purchaser for consideration of $6.50 per share in cash, less applicable withholdings (the "Consideration").
- [F2]Each Restricted Stock Unit represents a contingent right to receive one share of STKL common stock.
- [F3]At the Effective Time, each restricted stock unit ("RSU") held by the reporting person was surrendered in exchange for, subject to any withholding, a cash payment equal to the Consideration in respect of each Common Share underlying such RSU.
- [F4]At the Effective Time, each stock option held by the reporting person was surrendered in exchange for, subject to any withholding, a cash payment equal to the amount (if any) by which the Consideration in respect of a Common Share underlying such stock option exceeds the exercise price of such stock option, multiplied by the number of Common Shares subject to such stock option. Each stock option with a per share exercise price greater than or equal to the Consideration was cancelled without any consideration.