GBTG Director James P. Bush Sells 120,526 Shares in Merger

What Happened
James P. Bush, a director of Global Business Travel Group, Inc. (GBTG), had 97,097 and 23,429 shares (total 120,526 shares) disposed of to the issuer on September 29, 2026. Per the Merger Agreement, each GBTG share was cancelled at the effective time and converted into the right to receive $9.50 per share in cash, yielding roughly $1,144,997 in aggregate consideration. These were dispositions as part of the company’s merger (a cash‑out), not open‑market sales.

Key Details

• Transaction date: 2026-09-29. Transaction code: D (Disposition to issuer). Price per share: $9.50 (per Merger Agreement footnote; the Form 4 shows N/A because shares were converted).
• Shares disposed: 97,097 and 23,429 (total 120,526). Approximate proceeds: $1,144,997 (~$1.145M).
• Shares owned after transaction: the reporting person’s Company Common Stock was cancelled at the effective time, so 0 shares of Company Common Stock remained.
• Related awards: Outstanding restricted stock units were similarly converted to cash per the Merger Agreement (see footnote F2).
• Filing timeliness: Reported with the period date 2026-09-29 and filed the same day (timely). No 10b5-1 plan or tax‑withholding notation is indicated on the Form 4.

Context
This transaction was a merger cash‑out under the Agreement and Plan of Merger dated May 2, 2026, which made GBTG a wholly owned subsidiary of the acquirer. Conversions/cash‑outs in M&A are routine and reflect deal consideration rather than active trading decisions by the insider.