Sealed Air (SEE) President Byron Racki Disposes Shares in Merger

What Happened
Byron Jason Racki, listed as President, Protective, recorded dispositions to the issuer on 2026-04-09 for 24,080 and 1,866 shares (total 25,946). These were not open-market sales but cancellations/conversions under Sealed Air’s merger agreement: each outstanding common share was converted into $42.15 cash per share, so the converted shares are worth about $1.09 million in aggregate. The Form 4 shows price as N/A because the transfers were merger-related (transaction code D = disposition to issuer).

Key Details

• Transaction date: 2026-04-09 (reported period and filing date are the same).
• Reported transactions: 24,080 shares and 1,866 shares (total 25,946). Form price: N/A; Merger Consideration: $42.15 per share (Footnote F1).
• Approximate value: 25,946 x $42.15 ≈ $1,093,624.
• Shares after transaction: outstanding common stock was cancelled at the Effective Time; RSUs were converted into contingent cash rights per Footnote F2. Footnote F3 notes shares held under the company 401(k) as of the Effective Time.
• Transaction code: D (Disposition to issuer). Not an open-market trade or a 10b5-1 sale.
• Filing timeliness: No indication of lateness in this filing (period of report = transaction date).

Context
These entries reflect the treatment of equity under the Agreement and Plan of Merger (merger consideration paid in cash), not a voluntary insider market sale. RSUs were converted into contingent cash awards subject to their original vesting/termination terms, and common shares were cancelled and converted into the stated cash consideration. For investors, merger-driven conversions are corporate-transaction mechanics rather than signals of insider buying or selling intent.