Brookfield Business Corp (BBU) director logs issuer unit dispositions in reorganization
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Brookfield Business Corp director Jeffrey M. Blidner reported dispositions of partnership units and exchangeable shares back to the issuer on March 27, 2026. The Form 4 shows six dispositions of Class A exchangeable subordinate voting shares and non-voting limited partnership units, each at a reported price of $0.00 per unit, leaving no remaining holdings from these positions.
According to the disclosure, these transactions occurred as part of a court approved plan of arrangement under the Business Corporations Act (British Columbia). In this arrangement, holders of BBU non-voting limited partnership units and BBHC Class A exchangeable subordinate voting shares received class A subordinated voting shares of Brookfield Business Corp on a one-for-one basis, and BBU and BBHC became subsidiaries of the corporation. Some of the units were held indirectly through the Blidner Family Foundation and Jeffrey Blidner Ltd., meaning related entities, rather than Blidner personally, were the legal holders.
Positive
- None.
Negative
- None.
Insider Trade Summary
6 transactions reported
Mixed
6 txns
Insider
BLIDNER JEFFREY M
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Exchangeable Subordinate Voting Shares | 8,221 | $0.00 | -- |
| Disposition | Class A Exchangeable Subordinate Voting Shares | 4,170 | $0.00 | -- |
| Disposition | Class A Exchangeable Subordinate Voting Shares | 5,203 | $0.00 | -- |
| Disposition | Non-Voting Limited Partnership Units | 16,442 | $0.00 | -- |
| Disposition | Non-Voting Limited Partnership Units | 8,340 | $0.00 | -- |
| Disposition | Non-Voting Limited Partnership Units | 10,407 | $0.00 | -- |
Holdings After Transaction:
Class A Exchangeable Subordinate Voting Shares — 0 shares (Direct);
Class A Exchangeable Subordinate Voting Shares — 0 shares (Indirect, See Footnote);
Non-Voting Limited Partnership Units — 0 shares (Direct);
Non-Voting Limited Partnership Units — 0 shares (Indirect, See Footnote)
Footnotes (1)
- On March 27, 2026, pursuant to an arrangement agreement dated as of November 6, 2025, Brookfield Business Partners L.P. ("BBU"), Brookfield Business Holdings Corporation (formerly Brookfield Business Corporation) ("BBHC") and Brookfield Business Corporation (formerly 1559985 B.C. Ltd.) (the "Corporation") completed a court approved plan of arrangement under section 288 of the Business Corporations Act (British Columbia) (the "Arrangement"), pursuant to which, among other things, holders of non-voting limited partnership units of BBU (the "BBU Units") and holders of BBHC's class A exchangeable subordinate voting shares (the "BBHC Exchangeable Shares") received class A subordinated voting shares of the Corporation in exchange for their BBU Units and BBHC Exchangeable Shares on a one-for-one basis. As a result of the Arrangement, BBU and BBHC became subsidiaries of the Corporation. This Form 4 represents BBU Units and BBHC Exchangeable Shares transacted pursuant to the Arrangement. Held through Blidner Family Foundation. Held through Jeffrey Blidner Ltd. Represents BBHC Exchangeable Shares which, prior to the Arrangement, were exchangeable into BBU Units on a one-for-one basis (subject to adjustment to reflect certain capital events) or its cash equivalent (the form of payment to be determined at the election of BBU). Pursuant to the Arrangement, the BBHC Exchangeable Shares were exchanged for class A subordinated voting shares of the Corporation on a one-for-one basis.
Key Figures
Disposition of exchangeable shares (direct): 8,221 shares
Disposition of exchangeable shares (indirect): 4,170 shares
Disposition of exchangeable shares (indirect): 5,203 shares
+5 more
8 metrics
Disposition of exchangeable shares (direct)
8,221 shares
Class A exchangeable subordinate voting shares disposed on March 27, 2026
Disposition of exchangeable shares (indirect)
4,170 shares
Indirect Class A exchangeable subordinate voting shares with footnote reference
Disposition of exchangeable shares (indirect)
5,203 shares
Additional indirect Class A exchangeable subordinate voting shares with footnote reference
Disposition of partnership units (direct)
16,442 units
Non-voting limited partnership units disposed on March 27, 2026
Disposition of partnership units (indirect)
8,340 units
Indirect non-voting limited partnership units with footnote reference
Disposition of partnership units (indirect)
10,407 units
Additional indirect non-voting limited partnership units with footnote reference
Reported transaction price
$0.00 per share
All six issuer disposition transactions on March 27, 2026
Post-transaction position per line
0 shares
Total shares following each reported disposition are zero
Key Terms
plan of arrangement, non-voting limited partnership units, Class A exchangeable subordinate voting shares, class A subordinated voting shares, +2 more
6 terms
plan of arrangement regulatory
"completed a court approved plan of arrangement under section 288"
A plan of arrangement is a formal, court-approved agreement that reorganizes ownership or assets of a company—such as merging businesses, exchanging shares for cash or other securities, or splitting off parts of the company. Investors should care because it can change the value, number, and rights of their holdings and is often binding once approved by both shareholders and a court, offering more legal certainty than a simple vote. Think of it as a legally supervised recipe for how a company will be reshaped and who ends up with what.
non-voting limited partnership units financial
"holders of non-voting limited partnership units of BBU (the "BBU Units")"
Business Corporations Act (British Columbia) regulatory
"under section 288 of the Business Corporations Act (British Columbia)"
A provincial law that sets the rules for forming, managing and winding up corporations registered in British Columbia, including how directors and shareholders must act, what information companies must disclose, and how disputes are handled. Investors care because it provides a predictable rulebook — like referees and play-by-play rules in a game — that protects shareholder rights, clarifies management duties and disclosure obligations, and therefore affects a company’s legal risk and investment value.
disposition to issuer financial
"transaction_code_description": "Disposition to issuer""
FAQ
What insider transactions did BBU director Jeffrey M. Blidner report?
Jeffrey M. Blidner reported issuer dispositions of Class A exchangeable subordinate voting shares and non-voting limited partnership units on March 27, 2026. All six transactions were recorded at $0.00 per unit, reflecting securities returned to the issuer rather than open-market sales.
How many Brookfield Business Corp securities were disposed of in this Form 4?
The Form 4 lists six disposition transactions involving Class A exchangeable subordinate voting shares and non-voting limited partnership units. Each line item specifies an exact share count, and for every security type the total shares following the transactions are reported as zero for the respective positions.
What was the context for these BBU insider dispositions on March 27, 2026?
The filing states the dispositions occurred under a court approved plan of arrangement dated November 6, 2025. Under this plan, holders of BBU units and BBHC exchangeable shares received class A subordinated voting shares of Brookfield Business Corp on a one-for-one basis.
Were the Brookfield Business Corp insider transactions open‑market sales?
No, the transactions are coded as issuer dispositions, not open-market sales. The reported price per unit is $0.00, and the footnote explains they occurred pursuant to a court approved plan of arrangement exchanging prior securities into new Corporation shares.
How are the indirect holdings in the BBU Form 4 structured?
Some securities are described as held indirectly through the Blidner Family Foundation and Jeffrey Blidner Ltd. This means those entities, rather than the individual director, were the legal holders, though the transactions are still reported in his Form 4 as associated holdings.