KRONGARD CHERYL GORDON 4
4 · SUMISHO AIR LEASE CORP · Filed Apr 10, 2026
Research Summary
AI-generated summary of this filing
Sumisho Air Lease (AL) Director Cheryl Krongard Sells Shares in Merger Cash-Out
What Happened
- Cheryl Krongard, a Director of Sumisho Air Lease Corporation (ticker: AL), had 59,208.56 shares disposed to the issuer on 2026-04-08 at $65.00 per share, yielding $3,848,556. The disposition was a cash-out under the Merger Agreement that converted outstanding shares and RSUs into the right to receive $65.00 per share in cash.
Key Details
- Transaction date and price: 2026-04-08, $65.00 per share (total $3,848,556). Transaction code: D (Disposition to issuer).
- Shares reported disposed: 59,208.56.
- Shares owned after transaction: Not specified in the filing.
- Notable footnotes:
- F1: Merger Sub merged with the issuer; at the Effective Time each outstanding Class A share was cancelled and converted into $65.00 cash per share.
- F2: The disposed shares include 28,863.56 vested-but-deferred RSUs (including accrued dividend equivalents) and 2,698 unvested RSUs, which were cancelled and converted into cash (subject to applicable withholding taxes).
- Filing timeliness: Form was filed 2026-04-10 for a 2026-04-08 transaction (appears timely under Form 4 rules).
Context
- This was not an open-market sale but a mandatory cash-out tied to the company’s merger — a routine disposition in change-of-control transactions. Such merger-related cash-outs reflect transaction terms rather than an individual insider’s trading view.
Insider Transaction Report
Form 4Exit
KRONGARD CHERYL GORDON
Director
Transactions
- Disposition to Issuer
Air Lease Corporation - Class A Common Stock
[F1][F2]2026-04-08$65.00/sh−59,208.56$3,848,556→ 0 total
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger (the "Merger Agreement"), with Sumisho Air Lease Corporation Designated Activity Company, an Irish private limited company ("Parent"), and Takeoff Merger Sub Inc., a Delaware corporation and an indirect wholly owned subsidiary of Parent ("Merger Sub"), Merger Sub merged with and into the Issuer, with the Issuer surviving as an indirect wholly owned subsidiary of Parent (the "Merger"). At the effective time of the Merger (the "Effective Time"), each issued and outstanding share of the Issuer's Class A common stock, par value $0.01 per share ("Common Stock") that was issued and outstanding as of immediately prior to the Effective Time was automatically cancelled, extinguished and converted into the right to receive $65.00 per share in cash, without interest thereon (the "Per Share Price").
- [F2]The shares of Common Stock reported as disposed by the reporting person include (i) 28,863.56 vested but deferred restricted stock units ("RSUs"), including dividend equivalent rights accrued on such RSUs, which were cancelled and converted into the right to receive an amount in cash (without interest and subject to applicable withholding taxes) equal to the product of the Per Share Price and the total number of vested but deferred RSUs, and (ii) 2,698 unvested RSUs, which were cancelled and converted into the right to receive an amount in cash (without interest and subject to applicable withholding taxes) equal to the product of the Per Share Price and the total number of unvested RSUs upon the reporting person's separation from service at the Effective Time.
Signature
/s/ Lauren Jaeger, Attorney-in-Fact|2026-04-10