Madon Cyrus 4

What Happened

• Madon Cyrus, Executive Chairman, recorded dispositions to the issuer on March 27, 2026 for a total of 137,445 units/shares: 91,630 BBU units and 45,815 derivative BBHC exchangeable shares. No per-share price or cash proceeds are reported (price = N/A).
• These dispositions were made under a court-approved plan of arrangement (dated Nov 6, 2025) that converted holders’ BBU units and BBHC class A exchangeable subordinate voting shares into class A subordinated voting shares of the new Brookfield Business Corporation on a one-for-one basis. This is a corporate reorganization/recapitalization transaction rather than an open-market sale.

Key Details

• Transaction date: March 27, 2026. Form filed: March 31, 2026 (four days after the transaction).
• Shares/units disposed: 91,630 BBU units; 45,815 BBHC exchangeable shares (derivative) — total 137,445.
• Prices/values: Not reported (N/A); the exchange was effected under the Arrangement (one-for-one exchange into class A subordinated voting shares).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Notable footnotes: F1 describes the Arrangement completing on March 27, 2026 that caused the exchange; F2 explains BBHC exchangeable shares were exchangeable into BBU units (or cash) prior to the Arrangement and were exchanged one-for-one into the Corporation’s class A subordinated voting shares.
• Timeliness: Filed March 31, 2026; Form 4s are typically required within two business days of a transaction, so this filing was submitted four days after the transaction date.

Context

• This filing documents an ownership conversion tied to a reorganization (units/exchangeable shares converted into new corporation shares). Because it’s an exchange to the issuer under a court-approved arrangement, it is not the same as a public-market sale and does not necessarily indicate insider buying or selling sentiment.
• The derivative line reflects exchangeable shares (BBHC) that were converted as part of the transaction; there is no indication of option exercise, gift, or tax-withholding in this filing.