Raia Steven P 4
4 · QXO Insulation, LLC · Filed Jul 1, 2026
Research Summary
AI-generated summary of this filing
QXO (BLD) President Steven Raia Sells 9,083 Shares
What Happened
- Steven P. Raia, President, Special Operations & Executive Advisor of QXO Insulation, LLC (BLD), reported three dispositions to the issuer on July 1, 2026 totaling 9,083 shares (3,507; 1,700; 3,876). Each disposition was reported at $0.00 per share for a total reported value of $0. These were dispositions to the issuer in connection with the July 1, 2026 merger and related award treatment rather than open-market sales.
Key Details
- Transaction date: 2026-07-01. Report filed 2026-07-01 (no late filing indicated).
- Individual dispositions: 3,507; 1,700; and 3,876 shares at $0.00 per share — total 9,083 shares, $0 total proceeds.
- Shares owned after transaction: not stated in this Form 4.
- Relevant footnotes:
- F1: These actions occurred at the effective time of QXO’s July 1, 2026 merger with TopBuild; holders elected merger consideration (the reporting person elected the cash consideration).
- F2: Some share movements reflect tax withholding and performance-share vesting.
- F3/F4: Outstanding RSU and PRSU awards were converted into QXO RSU awards per the merger agreement (equity award exchange ratio applied).
- Transaction code: D = Disposition to issuer (not an open-market sale); F (tax withholding) applies to portions per footnotes.
Context
- Dispositions to the issuer at $0 typically reflect surrendering shares for merger consideration conversion and/or to satisfy tax withholding on vesting awards, not a market sale that signals trading sentiment. The filing indicates these were administrative actions tied to the merger and award conversion/withholding.
Insider Transaction Report
Form 4Exit
Raia Steven P
Pres, Sp Ops & Exec Adv
Transactions
- Disposition to Issuer
Common Stock
[F1][F2]2026-07-01−3,507→ 5,576 total - Disposition to Issuer
Common Stock
[F3]2026-07-01−1,700→ 3,876 total - Disposition to Issuer
Common Stock
[F4]2026-07-01−3,876→ 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.
Signature
/s/ Luis F. Machado, Attorney-in-Fact|2026-07-01