Company: QXO-PB
Filing Date: 2025-03-20
Form Type: 8-K
Source: 0001140361-25-009591
Chunk: 2

Company: QXO, Inc.
Filing Date: 2025-03-20
Form: 8-K
Item: Item 1.01
Chunk 2
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ation”).

Treatment of Outstanding Equity
Awards. Pursuant to the terms of the Merger Agreement:

  (i)      each restricted stock unit award for which vesting is solely based on service-based conditions (each, a “ RSU Award”) that is held by a non-employee member of the board                              

2

  (ii)      each (1) option to purchase Shares, (2) RSU Award that is not a Cash-Out RSU Award (each, an “ Assumed RSU Award”) and (3) outstanding award of restricted stock units                                

Treatment of ESPP. Beacon will take actions to ensure that (i) no new participants will enroll, existing participants will not increase their payroll deductions under, and no new offering period will
commence under Beacon’s 2023 Employee Stock Purchase Plan (the “ ESPP”), (ii) outstanding purchase rights under the ESPP will be automatically exercised as of the earlier of the first scheduled purchase date following the date of the Merger
Agreement or a date that is no later than the last trading day before the Effective Time, and (iii) if requested by QXO in writing at least ten (10) business days prior to the Effective Time, the ESPP will be terminated as of the Effective
Time.

Merger Closing Conditions. The

consummation of the Merger is subject to the satisfaction or waiver of the following closing conditions: (i) the absence of any law, order, injunction or decree in effect that restrains, enjoins or otherwise prohibits consummation of the Merger
and (ii) the consummation of the Offer having occurred.

Representations, Warranties and
Covenants. The Merger Agreement contains customary representations, warranties and covenants of Beacon, QXO and Merger Sub. These covenants include an obligation of each party to, subject to certain exceptions, use its reasonable best
efforts to take or cause to be taken all actions, and do or cause to be done all things reasonably necessary, proper or advisable on its part under the Merger Agreement and applicable laws to consummate and make effective the transactions
contemplated by the Merger Agreement (the “ Transactions”) as soon as practicable and of Beacon to, subject to certain exceptions, conduct its operations in the ordinary course of business consistent with past practice from the date of the Merger
Agreement through the Effective Time. The Merger Agreement also contains covenants that require