IBM acquisition converts Confluent (CFLT) CFO equity into cash and IBM RSUs
Rhea-AI Filing Summary
Sivaram Rohan reported disposition transactions in this Form 4 filing.
Confluent, Inc. completed its cash merger with IBM, triggering a full cleanup of CFO Rohan Sivaram’s Confluent equity. Each share of Confluent Class A common stock was canceled and converted into the right to receive $31.00 per share in cash, subject to taxes. All reported Confluent shares and options show zero remaining after these transactions.
Pursuant to the merger terms, the CFO’s restricted stock units were assumed by IBM and converted into restricted stock units for 39,985 shares of IBM common stock. A fully vested stock option covering 91,813 Confluent shares at an exercise price of $7.34 per share was canceled in exchange for cash equal to its intrinsic value, calculated using the $31.00 per-share merger price.
Positive
- None.
Negative
- None.
Insights
CFO’s Confluent equity was cashed out or rolled into IBM stock as part of the merger.
The transactions show Confluent CFO Rohan Sivaram disposing of all reported Confluent securities due to the closing of the IBM merger. Common shares are converted into a cash right at $31.00 per share, which is standard for an all-cash acquisition.
His restricted stock units did not disappear; they were assumed by IBM and converted into restricted stock units over 39,985 IBM shares. A fully vested option for 91,813 shares at $7.34 per share was canceled for cash equal to its intrinsic value under the merger formula, turning option value into cash rather than ongoing equity.
All reported Confluent positions now show zero balances, indicating the Form 4 captures the final clean-up of his Confluent equity as the company becomes part of IBM. Future compensation alignment will depend on IBM’s equity plans and any additional grants disclosed in later filings.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (Right to Buy) | 91,813 | $0.00 | -- |
| Disposition | Class A Common Stock | 212,681 | $0.00 | -- |
| Disposition | Restricted Stock Units | 319,290 | $0.00 | -- |
Footnotes (1)
- Pursuant to the Agreement and Plan of Merger, dated December 7, 2025, by and among the Issuer, International Business Machines Corporation ("IBM") and Corvo Merger Sub, Inc. (the "Merger Agreement"), each share of Issuer Class A Common Stock was canceled and converted into the right to receive $31.00 per share in cash (the "Merger Consideration" or the "Per Share Price"), without interest and subject to applicable withholding taxes. Pursuant to the Merger Agreement, each outstanding RSU was assumed by IBM and converted into restricted stock units for 39,985 shares of IBM common stock. The shares subject to the option are fully vested and immediately exercisable. Pursuant to the Merger Agreement, the option was canceled in exchange for the right to receive an amount in cash, subject to applicable withholding taxes, equal to the product of (a) the total number of shares of Issuer common stock covered by such option immediately prior to the Effective Time (as defined in the Merger Agreement) multiplied by (b) the excess of (1) the Per Share Price over (2) the per share exercise price of such option.
