Brad S. Lakhia, Senior Vice President and CFO of CBIZ, Inc., filed a Form 4 on November 2, 2026, reporting the cancellation and conversion of his common stock and unvested RSUs in connection with the completion of a merger involving CBIZ.

Key Highlights

  • Merger completed: Merger Sub merged with and into CBIZ, Inc. pursuant to a Merger Agreement dated July 28, 2026, with CBIZ continuing as the surviving corporation and an indirect wholly owned subsidiary of Viking ParentCo, Inc.
  • Share cancellation: Each outstanding share of CBIZ common stock, par value $0.01 per share, was canceled and converted into the right to receive $55.00 in cash per share, without interest.
  • Post-transaction ownership: Following the reported transaction, Lakhia beneficially owned 141,019.9545 shares of common stock on a direct basis, with a second line reporting zero shares directly owned.
  • RSU treatment: Each unvested RSU held by Lakhia was canceled and converted into a replacement cash-settled RSU award representing the right to receive $55.00 in cash for each underlying share, subject to the same vesting schedule.
  • Transaction code: The transaction in Table I is coded "D" (disposed), with the transaction date listed as November 2, 2026.

CBIZ Merger Triggers Share and RSU Conversion for CFO Lakhia

According to the filing, Brad S. Lakhia, serving as Senior Vice President and CFO of CBIZ, Inc. (NYSE:CBZ), reported changes in his beneficial ownership of CBIZ common stock arising from the effective time of a merger transaction. The filing states that Merger Sub merged with and into CBIZ, Inc. under a Merger Agreement dated July 28, 2026, among CBIZ, Viking ParentCo, Inc., and Viking MergerCo, Inc., with CBIZ continuing as the surviving corporation and becoming an indirect wholly owned subsidiary of Viking ParentCo, Inc.

At the effective time of the merger, the filing discloses, each outstanding share of CBIZ common stock with a par value of $0.01 per share was canceled and converted into the right to receive $55.00 in cash per share, without interest, described in the filing as the "Merger Consideration." Table I of the filing reflects the disposal of shares on November 2, 2026, with beneficial ownership reported at 141,019.9545 shares on one line and zero shares on a second line, both held directly.

Regarding Lakhia's unvested RSUs, the filing states that at the effective time, each such award "was canceled and converted into a replacement cash-settled RSU award representing the right to receive $55.00 in cash for each underlying share, subject to the same vesting schedule and substantially the same terms and conditions applicable to the corresponding RSU immediately prior to the Effective Time." The Form 4 was signed by Jaileah X. Huddleston as Attorney-in-Fact for Brad S. Lakhia on November 2, 2026.

What Was Disclosed

The filing reports that the CBIZ merger closed on November 2, 2026, resulting in the cancellation of Lakhia's common shares at $55.00 per share in cash and the conversion of his unvested RSUs into equivalent cash-settled awards under the same vesting terms.