Covington Alec C 4
4 · QXO, Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
QXO Director Alec C Covington Receives 153,862 Shares
What Happened
Alec C. Covington, a director of QXO, Inc., was credited with two award/acquisition transactions on July 1, 2026 totaling 153,862 shares of QXO common stock (150,368 shares + 3,494 shares). Prices are listed as N/A in the filing; these were awards (transaction code A), not open-market purchases or sales.
Key Details
- Transaction date: 2026-07-01; Form 4 filed 2026-07-02 (timely—within Form 4 reporting window).
- Shares received: 150,368 and 3,494 (total 153,862). Price per share: N/A (awarded/converted shares).
- Shares owned after transaction: not disclosed in the provided excerpt.
- Footnote F1: The issuance followed the merger with TopBuild Corp.; the filer received the merger cash consideration for TopBuild common stock.
- Footnote F2: The reported QXO shares represent TopBuild restricted stock awards that vested and converted into QXO common stock at the merger’s effective time.
- Transaction code: A = Award/Grant/Other acquisition.
Context
These shares arose from TopBuild’s merger into QXO and the automatic vesting/conversion of TopBuild restricted stock awards—common merger-related compensation events. Such awards reflect agreement terms and vesting/conversion mechanics rather than a director’s open‑market buying or selling decision, so they should be interpreted as transaction-driven rather than a direct insider trading signal.
Insider Transaction Report
- Award
Common Stock, $0.00001 par value
[F1]2026-07-01+150,368→ 150,368 total - Award
Common Stock, $0.00001 par value
[F1][F2]2026-07-01+3,494→ 153,862 total
Footnotes (2)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of April 18, 2026 (the "Merger Agreement"), the Issuer acquired TopBuild Corp. ("TopBuild") in a merger transaction (the "Merger"), which became effective on July 1, 2026. At the effective time of the Merger (the "Effective Time"), each share (other than certain excluded shares, cancelled shares and dissenting shares) of TopBuild common stock was converted into the right to receive, at the holder's election, one of the following forms of merger consideration, after giving effect to proration as described in the Merger Agreement: (i) approximately $249.71 in cash and 10.211 shares of QXO common stock, subject to final calculations by the exchange agent (the "Cash Consideration"); or (ii) 20.200 shares of QXO common stock (the "Stock Consideration"). The reporting person received the Cash Consideration.
- [F2]Represents shares of QXO common stock received with respect to TopBuild restricted stock awards. TopBuild restricted stock awards vested in accordance with the terms of the Merger Agreement immediately prior to the Effective Time.