CANTIE JOSEPH S 4

What Happened
Joseph S. Cantie, a director of QXO Insulation, LLC (ticker BLD), recorded dispositions of 23,475 and 343 shares (total 23,818) on July 1, 2026. The Form 4 reports these as dispositions to the issuer at $0.00 per share because the shares were converted under the merger of TopBuild into QXO. Per the merger agreement, Mr. Cantie elected the cash merger consideration (approximately $249.71 per TopBuild share), implying an approximate cash value of $5.95 million before final exchange-agent calculations.

Key Details

• Transaction date: 2026-07-01. Transaction code: D (Disposition to issuer – merger conversion).
• Reported price on Form 4: $0.00 (reflects conversion/cancellation in the merger, not an open-market sale).
• Shares disposed: 23,475 and 343 (total 23,818).
• Approximate cash consideration elected: ~$249.71 per share → roughly $5.95M total (final amount subject to exchange-agent calculations).
• Restricted shares: the filing notes restricted stock awards vested immediately prior to the merger effective time.
• Shares owned after the transaction: not reported on this Form 4.
• Filing date / timeliness: Reported on 2026-07-01 (same effective date); no late filing indicated.

Context
A "Disposition to issuer" in this filing reflects conversion/cancellation of TopBuild shares as part of the merger into QXO, not an open-market sale. Because Mr. Cantie elected the cash option under the merger agreement, the transaction functionally converted his TopBuild holdings to cash rather than indicating an independent market sale decision. Final cash amounts may change slightly pending the exchange agent’s final calculations.