4//SEC Filing
Sylvester David C 4
Accession 0001378763-25-000004
CIK 0001050825other
Filed
Dec 11, 7:00 PM ET
Accepted
Dec 12, 3:21 PM ET
Size
11.5 KB
Accession
0001378763-25-000004
Insider Transaction Report
Form 4
STEELCASE INCNYSE: SCS
Sylvester David C
Vice President, CFO
Transactions
- Disposition to Issuer
Class A Common Stock
2025-12-10−474,723→ 160,200 total - Disposition to Issuer
Class A Common Stock
2025-12-10−160,200→ 0 total - Award
Class A Common Stock
2025-12-10+360,450→ 360,450 total - Disposition to Issuer
Class A Common Stock
2025-12-10−360,450→ 0 total
Footnotes (5)
- [F1]On December 10, 2025, pursuant to that certain Agreement and Plan of Merger (the "Merger Agreement"), dated August 3, 2025, by and among HNI Corporation ("HNI"), Steelcase Inc. (the "Issuer"), Geranium Merger Sub I, Inc. and Geranium Merger Sub II, LLC, the Issuer became a wholly owned subsidiary of HNI.
- [F2]At the First Effective Time (as defined in the Merger Agreement), pursuant to the Merger Agreement and subject to certain exceptions, each share of Issuer Class A Common Stock outstanding immediately before the First Effective Time was converted into, at the election of the holder thereof, subject to automatic adjustment, the right to receive the following consideration (collectively with, if applicable, cash in lieu of fractional shares, the "merger consideration"): (i) (a) 0.2192 shares of HNI common stock and (b) $7.20 in cash (together, the "mixed election consideration"); (ii) $16.19 in cash and 0.0009 shares of HNI common stock (the "cash election consideration"); or (iii) 0.3940 shares of HNI common stock (the "stock election consideration").
- [F3]Pursuant to the Merger Agreement, at the First Effective Time, each Unvested Company RSU Award (as defined in the Merger Agreement) was assumed by HNI and converted into a restricted stock unit award that settles in an amount in cash (that accrues interest using the Applicable Interest Rate (as defined in the Merger Agreement)) and a number of shares of HNI common stock (rounded to the nearest whole share) that the holder would have received if the holder would have converted all of the Issuer common stock underlying the Unvested Company RSU Award based on an election to receive the mixed election consideration with the same terms and conditions as applied to such Unvested Company RSU Award immediately prior to the First Effective Time.
- [F4]Represents a deemed acquisition of shares of Issuer Class A Common Stock underlying unvested performance units based on the deemed attainment of the applicable performance metrics based on the Issuer's actual performance as set forth in the Merger Agreement.
- [F5]Pursuant to the Merger Agreement, at the First Effective Time, each Company PSU Award (as defined in the Merger Agreement) was assumed by HNI and converted into a restricted stock unit award that settles in an amount in cash (that accrues interest using the Applicable Interest Rate) and a number of shares of HNI common stock (rounded to the nearest whole share) that the holder would have received if the holder would have converted all of the Issuer common stock underlying the Company PSU Award based on an election to receive mixed election consideration.
Documents
Issuer
STEELCASE INC
CIK 0001050825
Entity typeother
Related Parties
1- filerCIK 0001378763
Filing Metadata
- Form type
- 4
- Filed
- Dec 11, 7:00 PM ET
- Accepted
- Dec 12, 3:21 PM ET
- Size
- 11.5 KB