Daughton Michael 4
4 · TruBridge, Inc. · Filed Jul 10, 2026
Research Summary
AI-generated summary of this filing
TruBridge (TBRG) CBO Michael Daughton Sells Shares
What Happened
Michael Daughton, Chief Business Officer of TruBridge (TBRG), had two dispositions tied to the company’s merger on July 9, 2026. He received $26.25 per share for 59,315 shares (totaling $1,557,019) under the merger consideration, and 8,749 unvested restricted shares were forfeited for $0. These were dispositions to the issuer pursuant to the Merger Agreement, not open-market trades.
Key Details
- Transaction date: July 9, 2026; Form 4 filed July 10, 2026 (timely filing).
- Prices and values: 59,315 shares at $26.25 = $1,557,019; 8,749 shares at $0 = $0.
- Transaction code: D (disposition to the issuer).
- Shares owned after transaction: under the Merger Agreement, outstanding common shares were cancelled and converted to cash consideration; the reporting person’s cancelled shares were replaced by the cash payment (report does not list remaining tradable common shares).
- Notable footnotes: Merger Agreement caused surviving company to become a wholly owned subsidiary; outstanding shares were cancelled and converted into $26.25 per share cash consideration (subject to withholding). Unvested restricted stock was either accelerated and converted to cash or forfeited per the agreement.
Context
These transactions reflect the cash-out treatment of TruBridge shares in a merger (conversion to merger consideration) rather than voluntary market selling by the insider. Such dispositions are routine in M&A deals and do not, by themselves, indicate the insider’s future view on the business.
Insider Transaction Report
- Disposition to Issuer
Common Stock
[F1][F2]2026-07-09−8,749→ 59,315 total - Disposition to Issuer
Common Stock
[F1][F3]2026-07-09$26.25/sh−59,315$1,557,019→ 0 total
Footnotes (3)
- [F1]On July 9, 2026, pursuant to that certain Agreement and Plan of Merger, dated as of April 23, 2026 (the "Merger Agreement"), by and among TruBridge, Inc. (the "Issuer"), Inventurus Knowledge Solutions, Inc., a Delaware corporation ("Parent"), IKS Next Horizon, Inc., a Delaware corporation and wholly owned subsidiary of Parent ("Merger Sub"), and solely for certain limited purposes as specified therein, Inventurus Knowledge Solutions Limited, an Indian public limited company, Merger Sub merged with and into the Issuer (the "Merger"), with the Issuer surviving the Merger as a wholly owned subsidiary of Parent.
- [F2]Represents the portion of the reporting person's unvested restricted stock that was forfeited at the effective time of the Merger (the "Effective Time") pursuant to the Merger Agreement.
- [F3]At the Effective Time, pursuant to the Merger Agreement, each share of the Issuer's common stock, par value $0.001 per share, that was issued and outstanding immediately prior to the Effective Time (other than certain excluded shares) was cancelled and converted into the right to receive $26.25 per share in cash, without interest, and subject to any applicable withholding taxes (the "Merger Consideration"). In addition, to the extent not forfeited pursuant to the Merger Agreement, each share of unvested restricted stock held by the reporting person immediately prior to the Effective Time was accelerated and converted into the right to receive the Merger Consideration pursuant to the Merger Agreement.