Tommasino Anthony J 4

What Happened Anthony J. Tommasino, Principal Accounting Officer of Alexander & Baldwin, reported dispositions on March 12, 2026 of 2,570 and 6,113.541 shares (total 8,683.541). The Form 4 reports these as "disposition to the issuer" with $0 proceeds because his restricted stock units (RSUs) were cancelled at the effective time of the company’s merger and converted into the right to receive cash. Under the Merger Agreement each share was converted into $20.85 in cash, so the RSUs equate to roughly $181,052 before any applicable tax withholdings.

Key Details

• Transaction date: March 12, 2026; Form filed: March 16, 2026 (Accession 0001225208-26-003676).
• Reported dispositions: 2,570 shares and 6,113.541 shares (total 8,683.541).
• Form 4 shows $0 proceeds because the RSUs were cancelled and converted to a cash payment under the merger terms; Merger Consideration = $20.85 per share.
• Estimated cash value: 8,683.541 × $20.85 ≈ $181,052 (subject to applicable withholding taxes and award terms).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnotes: RSU awards (service‑based) were cancelled and converted into cash rights per the Merger Agreement; amounts remain subject to the award agreements (including withholding and any double‑trigger provisions).

Context This was not an open‑market sale but an automatic conversion of equity awards due to the merger of Alexander & Baldwin into Tropic Merger Sub (effective March 12, 2026). Dispositions to the issuer in merger situations often report $0 on Form 4 while the economic value is handled under the merger terms; such filings reflect corporate action, not a discretionary insider sale.