Buck Robert M 4
4 · QXO Insulation, LLC · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
QXO (BLD) CEO Robert Buck Surrenders 74,387 Shares in Merger
What Happened
Robert M. Buck, CEO and director of QXO Insulation, reported three dispositions to the issuer on July 1, 2026 totaling 74,387 shares (40,372 + 10,327 + 23,688). Each disposition is reported at $0 proceeds because the shares were surrendered/settled in connection with the merger that became effective that day; the reporting person elected the merger's cash consideration option.
Key Details
- Transaction date: July 1, 2026. All three entries shown as dispositions to the issuer at $0.00 per share (total reported proceeds $0).
- Total shares surrendered: 74,387 (40,372; 10,327; 23,688).
- Shares owned after the transaction: not specified in this filing.
- Footnotes: F1 notes the TopBuild → QXO merger (effective July 1) and that holders could elect cash + stock or stock consideration; the reporting person elected cash consideration. F2 indicates some shares reflect tax withholding and performance-share vesting. F3–F4 explain conversion of outstanding RSUs/PRSUs into QXO awards under the merger exchange ratio.
- Filing timeliness: Reported with period and filing date of July 1, 2026 — no late filing indicated.
Context
These were not open-market sales but corporate-level settlements related to the merger and conversion of awards. Dispositions to the issuer in a merger often show $0 on Form 4 because the consideration (cash and/or stock) is handled by the exchange agent and award conversion rules; they do not imply a typical CEO sell order in the market.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2]2026-07-01−40,372→ 34,015 total - Disposition to Issuer
Common Stock
[F3]2026-07-01−10,327→ 23,688 total - Disposition to Issuer
Common Stock
[F4]2026-07-01−23,688→ 0 total
Footnotes (4)
- [F1]Pursuant to the Agreement and Plan of Merger, dated as of April 18, 2026 (the "Merger Agreement), QXO, Inc. ("QXO") 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 elected the Cash Consideration.
- [F2]Reflects tax withholding and performance share achievement on vesting.
- [F3]Represents shares of TopBuild common stock underlying restricted stock unit ("RSU") awards. Pursuant to the terms of the Merger Agreement, each outstanding and not yet settled RSU award was converted into a restricted stock unit award relating to a number of shares of QXO common stock based on an equity award exchange ratio equal to the Stock Consideration, with any fractional shares rounded to the nearest whole number of shares.
- [F4]Represents shares of TopBuild common stock underlying performance-based stock unit ("PRSU") awards. Pursuant to the terms of the Merger Agreement, each outstanding and not yet settled PRSU award was converted into a restricted stock unit award relating to a number of shares of QXO common stock based on an equity award exchange ratio equal to the Stock Consideration, with any fractional shares rounded to the nearest whole number of shares.