Thomassee Cindy 4

What Happened
Cindy Thomassee, Chief Accounting Officer of European Wax Center, disposed of 137,740 shares at $5.80 per share (total ≈ $798,892) on May 8, 2026. In the same transaction the company reports 12,920 derivative units (unvested RSUs) were converted into contingent cash awards tied to the merger consideration (Converted Cash Awards). These actions were dispositions to the issuer under the merger agreement with Glow Midco and related parties.

Key Details

• Transaction date: May 8, 2026; Form 4 filed May 12, 2026. (Note: Form 4 is typically due within 2 business days of the transaction; this was filed 4 days after the transaction.)
• Disposition details: 137,740 shares sold/converted at $5.80 each = $798,892 reported.
• Derivative/RSU detail: 12,920 unvested RSUs were converted into Converted Cash Awards equal to $5.80 per underlying share (implied gross value ≈ $74,936), but the filing reports the derivative amount/value as N/A because the awards remain contingent and subject to vesting.
• Related merger items: per footnotes, Class A shares were cashed out at $5.80 each; Class B shares were cancelled for nominal consideration; certain options with exercise prices ≥ $5.80 were cancelled for no consideration.
• Shares owned after transaction: Not specified in the summary provided — check the full Form 4 for post-transaction holdings.
• Transaction code: D (Disposition to issuer — part of the merger consideration).

Context

• These were not open-market purchases or routine insider sales but cash-outs and conversions tied to the company’s merger. The 137,740 shares were converted to cash at the merger price; the 12,920 RSUs were converted into contingent cash awards that continue to be subject to vesting and "double-trigger" protections per the merger agreement.
• This filing documents corporate-transaction-driven dispositions rather than a personal sale decision unrelated to the merger; investors should treat them as merger consideration events, not an independent insider sentiment signal.