Schoppert Wendy Lee 4
4 · Sun Country Airlines Holdings, LLC · Filed May 15, 2026
Research Summary
AI-generated summary of this filing
Sun Country Director Wendy Schoppert Receives Merger Payout
What Happened
Wendy Lee Schoppert, a director of Sun Country Airlines Holdings (SNCY), had 7,040 restricted stock units (Company RSU Awards) cancelled and converted as part of the Allegiant merger on May 13, 2026. Each RSU converted to $4.10 in cash and 0.1557 shares of Allegiant common stock, for a cash component of $28,864 and an equity component of approximately 1,096.128 Allegiant shares. The filing reports the disposition code "D" (to the issuer) reflecting cancellation/conversion under the merger—not an open-market sale.
Key Details
- Transaction date: May 13, 2026 (reported on Form 4 filed May 15, 2026). Filing appears timely.
- Conversion terms: $4.10 cash per RSU and 0.1557 Allegiant shares per RSU.
- Total consideration: $28,864 cash + ~1,096.128 Allegiant shares for 7,040 RSUs.
- Shares owned after transaction: Sun Country RSUs were cancelled (0 Sun Country RSUs remaining); the Form 4 does not itemize Schoppert’s total Allegiant shareholdings after conversion.
- Footnotes: Conversion resulted from the Agreement and Plan of Merger (Jan 11, 2026); Sun Country is now Sun Country Airlines Holdings, LLC and a wholly owned Allegiant subsidiary.
Context
This was a merger-driven conversion of equity awards (not a voluntary sale). The reporting shows disposition to the issuer under the merger agreement; the economic result was a cash payment and issuance of Allegiant stock in exchange for vested/converted RSUs.
Insider Transaction Report
- Disposition to Issuer
COMMON STOCK
[F1][F2][F3]2026-05-13−7,040→ 0 total
Footnotes (3)
- [F1]On May 13, 2026, pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), dated as of January 11, 2026, by and among Sun Country Airlines Holdings, Inc. ("Sun Country" ), Allegiant Travel Company ("Allegiant"), Mirage Merger Sub, Inc. ("Merger Sub 1") and a direct wholly owned subsidiary of Allegiant, Sawdust Merger Sub, LLC ("Merger Sub 2"), a direct wholly owned subsidiary of Allegiant: (a) Merger Sub 1 merged with and into Sun Country (the "First Merger"), with Sun Country surviving the First Merger as a direct wholly owned subsidiary of Allegiant and (b) immediately after the First Merger, Sun Country merged with and into Merger Sub 2, with Merger Sub 2 surviving as a direct, wholly owned subsidiary of Allegiant (the "Second Merger" and, together with the First Merger, the "Mergers"). All terms capitalized but not defined herein shall have the meaning given to them in the Merger Agreement.
- [F2](Continued from footnote 1) Following consummation of the Mergers, Sun Country Airlines Holdings, Inc. is now known as Sun Country Airlines Holdings, LLC.
- [F3]Reflects each outstanding Sun Country restricted stock unit award ("Company RSU Award") consisting of 7,040 restricted stock units previously granted to the reporting person, which, as of immediately prior to the effective time of the First Merger, such Company RSU Awards became fully vested (to the extent not yet vested) and were cancelled and converted into the right to receive (a) $4.10 in cash, without interest and (b) 0.1557 shares of Allegiant common stock, par value $0.001 per share.