Machado Luis Francisco 4

What Happened
Machado Luis Francisco, VP, General Counsel and Corporate Secretary of QXO Insulation (BLD), reported dispositions to the issuer totaling 13,352 shares on July 1, 2026. The filing lists four dispositions: 6,296; 1,495; 3,440; and 2,121 shares (the last is a derivative holding). Each disposition is reported at $0.00 per share (total $0) on the Form 4 because the transactions occurred as part of the merger process described in the filing. Per the Merger Agreement, the reporting person elected the Cash Consideration.

Key Details

• Transaction date: 2026-07-01; reported price: $0.00 per share (total $0) on Form 4.
• Total shares disposed: 13,352 (6,296 + 1,495 + 3,440 + 2,121 (derivative)).
• Shares owned after transaction: not specified in the filing.
• Notable footnotes:
  • F1: Dispositions arose from the merger effective July 1, 2026; reporting person elected Cash Consideration (approximately $249.71 cash plus 10.211 QXO shares per TopBuild share, or alternatively an election for stock consideration).
  • F2: Reflects tax withholding and performance-share achievement on vesting.
  • F3–F5: Outstanding RSUs/PRSUs and options were converted/cancelled and adjusted into QXO awards or rights per the Merger Agreement.
  • F6: Notes prior vesting schedule (707 shares vested on 2/22/2022, 2/22/2023, 2/22/2024).
• Filing timeliness: Form filed on 2026-07-01 (same day as the reported effective date).

Context
These were dispositions to the issuer under a merger, not open-market sales — filings often show $0 in such cases because consideration (cash and/or QXO shares) was paid through the merger mechanics rather than an ordinary sale. The derivative line relates to converted equity awards (RSUs/PRSUs/options) settled under the merger terms. Such merger-related dispositions are transactional/administrative and do not by themselves indicate insider sentiment about the stock.