Srivastava Sapna 4

What Happened

• Director Sapna Srivastava disposed of shares and equity awards on July 15, 2026 in connection with GlaxoSmithKline’s completed tender offer and merger. The Form 4 shows a disposition of 5,146 shares sold at the $124 offer price for $638,104, plus multiple dispositions to the issuer (derivative awards and shares) that were canceled/converted under the merger agreement.

Key Details

• Transaction date: 2026-07-15.
• Reported sale: 5,146 shares at $124.00 per share for $638,104 (cash received).
• Additional dispositions to issuer (derivative): 3,444 shares and 68,500 + 20,000 + 15,000 + 3,789 + 4,147 units (total underlying shares affected = 120,026).
• Offer price per share under the Merger Agreement: $124.00 (cash, net of withholding).
• Per footnotes: Company RSUs were cancelled and converted into cash equal to the offer price × number of RSUs; outstanding stock options were cancelled and converted into cash equal to shares × (Offer Price − exercise price). Values for option-derived payouts are not stated in the Form 4.
• Shares owned after the transactions: not specified in the provided filing details.
• Filing timeliness: Reported with the period/date of 2026-07-15 (no late filing noted).

Context

• These transactions reflect the cash-out treatment under the Merger Agreement (tender offer followed by merger), not typical open-market selling for personal liquidity or trading signals. If every effected share/unit were paid at $124, the gross consideration would be about $14.9 million (120,026 × $124); actual cash for options may be lower because payouts depend on strike prices and withholding.