SOMNIGROUP (SGI) Karl G. Glassman Receives Awards in Merger

What Happened
Karl G. Glassman (noted as CEO of Leggett & Platt) received a bundle of stock and equity awards from SOMNIGROUP on 2026-08-26 as part of the Merger of Leggett into SOMNIGROUP. The filing reports a total of 549,004 shares/award units acquired (mix of actual common stock and converted/assumed derivative awards such as RSUs, PSUs and option equivalents). No per-share price is reported (N/A) because these were issued or converted pursuant to the Merger Agreement rather than purchased on the open market.

Key Details

• Transaction date: 2026-08-26; Form 4 filed 2026-08-28 (filed within the normal 2-business-day window).
• Total received: 549,004 shares/award units (aggregate of multiple grants/conversions and derivative awards). Price: N/A (merger conversion/assumption).
• Types of awards: direct shares received in exchange for Leggett common stock and a variety of assumed awards converted from Leggett PSUs, RSUs and stock options. Some items are equity settled (shares/RSUs) and some are cash-settled converted units.
• Notable vesting/payment terms from footnotes:
  • Conversion ratio: each Leggett share converted into 0.1455 shares of SOMNIGROUP common stock per the Merger Agreement.
  • Certain PSUs were deemed achieved at 200% of target and converted to time-based RSUs (e.g., 2024/2025/2026 Assumed PSU Awards now convert to RSUs or cash-settled units).
  • Specific RSU vesting schedules cited: some awards vest in installments on 2/26/2027, 2/26/2028, 2/26/2029; others on 5/20/2027 or in two installments on 2/28/2027 and 2/28/2028.
  • Cash-settled PSU payments (for portions originally payable in cash) have scheduled payment deadlines (e.g., cash payments by March 15 of 2027–2029 depending on the award year).
  • Converted options referenced (from Leggett) include equivalents tied to prior strikes ($36.33 and $48.88 per footnotes).
• Filing indicates these were merger-related conversions/assumptions (corporate transaction), not open-market buys or insider sales.

Context
This activity is a corporate-merger driven conversion: Leggett awards and shares were converted or assumed by SOMNIGROUP under the Merger Agreement. Such filings reflect treatment of previous employer equity (conversion, assumption, vesting and cash-settlement terms) rather than a personal buy or sell decision. Retail investors should treat this as merger-related equity issuance/assumption and review the footnotes for vesting and cash-settlement timing rather than as an insider “vote of confidence” via buying shares.