Waldis Stephen G 4

What Happened
Stephen G. Waldis, Executive Chairman and Director of Synchronoss Technologies (SNCR), disposed of a total of 133,353 shares on Feb 13, 2026 as part of the company’s merger. This includes 124,333 outstanding common shares that were cancelled and converted into $9.00 per share in cash (≈ $1,118,997). An additional 9,020 shares were derivative-related (options/exercise/conversion) that were cancelled and converted to cash under the merger’s option-payment formula (see Key Details). This was not an open‑market sale but the cash-out of holdings pursuant to the merger agreement.

Key Details

• Transaction date: 2026-02-13 (effective at the merger’s effective time).
• Common-share conversion: 124,333 common shares × $9.00 = $1,118,997 paid in cash.
• Derivative/option amounts reported: 9,020 shares (3,972 + 1,965 + 3,083) were option-related and converted under the merger’s option-payment formula.
• Total shares surrendered (common + derivative): 133,353.
• Option payment rule: each vested option was cancelled and converted into cash equal to (Merger Consideration $9.00 − option exercise price) × vested shares; options with exercise price ≥ $9.00 received $0.
• All outstanding options vested and were fully exercisable as of the Effective Time (per filing).
• Shares owned after transaction: the issuer’s outstanding common shares were cancelled at the Effective Time, so the reporting company common stock position was eliminated.
• Filing timing: reported on Form 4 dated 2026-02-13 (the same date as the transactions), indicating a timely filing.

Context
These transactions arose from the Agreement and Plan of Merger (Lumine Group US Holdco / Skyfall Merger Sub) — not a discretionary buy or sell in the open market. For retail investors, note that cash received for option conversions depends on each option’s strike price; some options may have yielded no cash if their exercise price equaled or exceeded $9.00. This filing reflects the contractual cash-out from the merger rather than a signal of insider sentiment via market trades.