Doyle James Edward 4
Research Summary
AI-generated summary
Exact Sciences (EXAS) Director James Doyle Sells Shares in Merger
What Happened
James Edward Doyle, a director of Exact Sciences Corporation, had a total of 57,962 shares disposed on March 23, 2026 in connection with the company's merger with Abbott Laboratories. Under the merger agreement, each share of EXAS common stock was converted into $105.00 in cash, so the two dispositions (52,564 and 5,398 shares) produced aggregate cash consideration of $6,086,010. These dispositions are recorded as “Disposition to the issuer” (D) rather than open-market sales.
Key Details
- Transaction date: March 23, 2026. Price per share (merger consideration): $105.00.
- Shares disposed: 52,564 shares and 5,398 shares (total 57,962). Total proceeds: $6,086,010.
- Post-transaction common shares: The filing indicates outstanding common stock was converted into the merger cash consideration; common shares were cancelled at the Effective Time (so remaining public common shares would be eliminated).
- Footnotes: (F1) Merger with Abbott converted each outstanding share into $105 cash; (F2) restricted/vested shares granted under issuer plans were deemed fully vested and converted into the same cash consideration, net of applicable tax withholding.
- Filing timeliness: No late filing flag shown in the provided data.
Context
This disposition reflects the corporate action (merger) rather than an insider-initiated open-market sale; such conversion-type dispositions are routine in deal closings. Restricted shares that were outstanding prior to the Effective Time were treated as vested and converted into cash per the merger terms, subject to tax withholding.