Scannell Timothy J 4
Research Summary
AI-generated summary
Masimo Director Timothy Scannell Receives $670,860 in Merger Cash
What Happened
Timothy J. Scannell, a director of Masimo Corporation (MASI), had his Masimo common shares and restricted stock units (RSUs) converted into cash as part of Masimo’s June 10, 2026 merger with Danaher. Specifically, 2,608 shares were delivered to the issuer at $180.00 per share for $469,440, and 1,119 RSUs (derivative units) were canceled and converted into cash at the same $180 per-share merger consideration (1,119 × $180 = $201,420). Total cash consideration received equals $670,860. These were dispositions to the issuer under the merger agreement, not open‑market trades.
Key Details
- Transaction date: June 10, 2026 (effective time of the merger). Filing date: June 12, 2026.
- Price / consideration: $180.00 per outstanding share (Per Share Merger Consideration).
- Items converted: 2,608 common shares (cash received $469,440) and 1,119 RSUs (cash value $201,420).
- Total cash received: $670,860.
- Shares owned after transaction: Outstanding common shares were canceled at the merger effective time; the insider no longer holds those common shares post-merger.
- Footnotes of note:
- The transactions reflect the Agreement and Plan of Merger by which Masimo became a wholly owned Danaher subsidiary and each share/RSU was converted into the right to receive $180 cash.
- The 1,119 RSUs represented an unvested portion of RSUs granted April 23, 2026 (scheduled to vest on the earlier of one year after grant or the next annual meeting); these were canceled and converted into cash at closing.
- Transaction type: Disposition to issuer due to merger (filing shows D / derivative conversion), not a routine open‑market sale.
Context
This activity is part of the merger closing process — company stock and director RSUs were canceled and converted into the agreed cash merger consideration. Such dispositions in an M&A context are procedural and reflect deal terms rather than a director selling shares on the open market; they should not be read as a traditional insider sell signal about company prospects.