Company: QXO-PB
Filing Date: 2025-04-29
Form Type: S-8
Source: 0000950142-25-001201
Chunk: 1

Company: QXO, Inc.
Filing Date: 2025-04-29
Form: S-8
Chunk 1
---
Co, Inc., a wholly owned subsidiary of QXO, and Beacon Roofing Supply, Inc. (“Beacon”)
entered into the Agreement and Plan of Merger (the “Merger Agreement”).

The Merger Agreement provides that, at the effective
time of the merger, each (1) option to purchase shares of Beacon common stock (each, a “Beacon Option”), (2) restricted stock
unit (each, an “RSU”) with respect to Beacon common stock (other than RSUs that are cashed out pursuant to the Merger Agreement)
(each, an “Assumed RSU Award”) and (3) outstanding award of restricted stock units for which vesting is based on service-based
conditions and performance-based conditions (each, a “PSU Award” and, together with the Beacon Options and Assumed RSU Awards,
the “Assumed Awards”), in each case, granted under the Beacon Roofing Supply, Inc. 2024 Stock Plan or the Beacon Roofing Supply,
Inc. Second Amended and Restated 2014 Stock Plan (together, the “Beacon Stock Plans”) that is outstanding immediately prior
to the effective time, will be converted at the effective time into corresponding QXO equity awards (and, with respect to each PSU Award,
with the performance-based vesting conditions deemed satisfied at target and being converted into an award of RSUs with respect to QXO
common stock for which vesting is solely based on service-based conditions), in each case, based on an exchange ratio equal to the quotient
obtained by dividing (A) the Merger Consideration (as defined in the Merger Agreement) by (B) the volume-weighted average trading price
of QXO’s common stock on the New York Stock Exchange as reported by Bloomberg for the five (5) consecutive trading
days ending on the trading day immediately preceding the closing (the “Exchange Ratio”), in each case, subject to the same
terms and conditions that were applicable to such awards (excluding performance-based vesting terms) immediately prior to the effective
time of the merger; provided that any amounts relating to accrued and unpaid dividends or dividend equivalent rights corresponding to
an Assumed RSU Award or a PSU Award will be converted into dividend equivalent rights on the corresponding QXO equity awards.

The Merger Agreement also provides that,
at the effective time of the Merger, each share of Beacon common stock that remains available for issuance pursuant to the Beacon
Stock