Starboard Value LP Amends Alight Stake Filing
Ticker: ALIT · Form: SC 13D/A · Filed: Dec 10, 2024 · CIK: 1809104
Sentiment: neutral
Topics: 13D-A, shareholder-filing, ownership-change
Related Tickers: ALIT
TL;DR
Starboard Value LP updated its Alight filing on 12/10/24. Keep an eye on this one.
AI Summary
Starboard Value LP, through its affiliate CF, has amended its Schedule 13D filing regarding Alight, Inc. The filing, dated December 10, 2024, indicates a change in beneficial ownership. Starboard Value LP is a significant investment firm based in New York.
Why It Matters
This filing signals potential shifts in significant shareholder positions, which could influence Alight's stock performance and strategic direction.
Risk Assessment
Risk Level: medium — Changes in significant shareholder filings can indicate strategic moves or potential activism, impacting stock price and company strategy.
Key Players & Entities
- Starboard Value LP (company) — Filing entity
- Alight, Inc. (company) — Subject company
- CF (company) — Affiliate of Starboard Value LP
- JEFFREY C. SMITH (person) — Associated with Starboard Value LP
FAQ
What is the primary purpose of this SC 13D/A filing?
This filing is an amendment to a Schedule 13D, indicating a change in the beneficial ownership of Alight, Inc. by Starboard Value LP.
Who is the filing entity and who is the subject company?
The filing entity is Starboard Value LP, and the subject company is Alight, Inc.
When was this amendment filed?
The filing was made on December 10, 2024.
What is the business address of Alight, Inc.?
The business address for Alight, Inc. is 4 Overlook Point, Lincolnshire, IL 60069.
What is the business address of Starboard Value LP?
The business address for Starboard Value LP is 777 Third Avenue, 18th Floor, New York, NY 10017.
Filing Stats: 3,388 words · 14 min read · ~11 pages · Grade level 11.9 · Accepted 2024-12-10 16:00:22
Key Financial Figures
- $0.0001 — ssuer) Class A Common Stock, par value $0.0001 per share (Title of Class of Securiti
- $218,825,432 — by Starboard V&O Fund is approximately $218,825,432, excluding brokerage commissions. The a
- $27,878,818 — ned by Starboard S LLC is approximately $27,878,818, excluding brokerage commissions. The a
- $21,638,841 — wned by Starboard C LP is approximately $21,638,841, excluding brokerage commissions. The a
- $12,105,596 — by Starboard L Master is approximately $12,105,596, excluding brokerage commissions. The a
- $70,828,587 — by Starboard X Master is approximately $70,828,587, excluding brokerage commissions. The a
- $43,023,891 — board Value LP Account is approximately $43,023,891, excluding brokerage commissions. Item
Filing Documents
- sc13da306297352_12102024.htm (SC 13D/A) — 409KB
- 0000921895-24-002922.txt ( ) — 410KB
Source and Amount of Funds or Other Consideration
Item 3. Source and Amount of Funds or Other Consideration .
is hereby amended
Item 3 is hereby amended and restated to read as follows: The Shares purchased by each of Starboard V&O Fund, Starboard S LLC, Starboard C LP, Starboard L Master, Starboard X Master and held in the Starboard Value LP Account were purchased with working capital (which may, at any given time, include margin loans made by brokerage firms in the ordinary course of business) in open market purchases, except as otherwise noted. The aggregate purchase price of the 24,894,042 Shares beneficially owned by Starboard V&O Fund is approximately $218,825,432, excluding brokerage commissions. The aggregate purchase price of the 3,175,098 Shares beneficially owned by Starboard S LLC is approximately $27,878,818, excluding brokerage commissions. The aggregate purchase price of the 2,464,910 Shares beneficially owned by Starboard C LP is approximately $21,638,841, excluding brokerage commissions. The aggregate purchase price of the 1,377,816 Shares beneficially owned by Starboard L Master is approximately $12,105,596, excluding brokerage commissions. The aggregate purchase price of the 8,062,838 Shares beneficially owned by Starboard X Master is approximately $70,828,587, excluding brokerage commissions. The aggregate purchase price of the 4,770,296 Shares held in the Starboard Value LP Account is approximately $43,023,891, excluding brokerage commissions.
Interest in Securities of the Issuer
Item 5. Interest in Securities of the Issuer .
is hereby amended
Item 5 is hereby amended and restated to read as follows: (a) The percentages used in this Schedule 13D are based upon 532,506,339 Shares outstanding, as of November 7, 2024, as reported in the Issuer’s Quarterly Report on Form 10-Q filed with the Securities and Exchange Commission on November 12, 2024. See rows (11) and (13) of the cover pages to this Schedule 13D for the aggregate number of Shares and percentage of the Shares beneficially owned by each of the Reporting Persons. The filing of this Schedule 13D shall not be deemed an admission that the Reporting Persons are, for purposes of Section 13(d) of the Securities Exchange Act of 1934, as amended, the beneficial owners of any securities of the Issuer that he or it does not directly own. Each of the Reporting Persons specifically disclaims beneficial ownership of the securities reported herein that he or it does not directly own. (b) See rows (7) through (10) of the cover pages to this Schedule 13D for the number of Shares as to which each Reporting Person has the sole or shared power to vote or direct the vote and the sole or shared power to dispose or to direct the disposition. (c) Information concerning transactions in the securities of the Issuer effected by the Reporting Persons during the past sixty days is set forth in Schedule A attached hereto and is incorporated herein by reference. Except as otherwise noted, all of the transactions in the securities of the Issuer listed hereto were effected in the open market through various brokerage entities. (d) No person other than the Reporting Persons is known to have the right to receive, or the power to direct the receipt of dividends from, or proceeds from the sale of, the Shares. (e) Not applicable. 16 CUSIP No. 01626W101
SIGNATURES
SIGNATURES After reasonable inquiry and to the best of his knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. Dated: December 10, 2024 STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD By: Starboard Value LP, its investment manager STARBOARD VALUE AND OPPORTUNITY S LLC By: Starboard Value LP, its manager STARBOARD VALUE AND OPPORTUNITY C LP By: Starboard Value R LP, its general partner STARBOARD VALUE R LP By: Starboard Value R GP LLC, its general partner STARBOARD VALUE AND OPPORTUNITY MASTER FUND L LP By: Starboard Value L LP, its general partner STARBOARD VALUE L LP By: Starboard Value R GP LLC, its general partner STARBOARD X MASTER FUND LTD By: Starboard Value LP, its investment manager STARBOARD VALUE LP By: Starboard Value GP LLC, its general partner STARBOARD VALUE GP LLC By: Starboard Principal Co LP, its member STARBOARD PRINCIPAL CO LP By: Starboard Principal Co GP LLC, its general partner STARBOARD PRINCIPAL CO GP LLC STARBOARD VALUE R GP LLC By: /s/ Jeffrey C. Smith Name: Jeffrey C. Smith Title: Authorized Signatory /s/ Jeffrey C. Smith JEFFREY C. SMITH Individually and as attorney-in-fact for Peter A. Feld 17 CUSIP No. 01626W101 SCHEDULE A Transactions in the Securities of the Issuer During the Past Sixty Days Nature of the Transaction Amount of Securities Purchased Price ($) Date of Purchase STARBOARD VALUE AND OPPORTUNITY MASTER FUND LTD Purchase of Common Stock 53,700 8.3399 11/13/2024 Purchase of Common Stock 53,700 8.3399 11/13/2024 Purchase of Common Stock 40,275 8.2900 11/13/2024 Purchase of Common Stock 40,275 8.2900 11/13/2024 Purchase of Common Stock 26,500 7.4981 12/06/2024 Purchase of Common Stock 26,500 7.4981 12/06/2024 Purchase of Common Stock 6,625 7.4534 12/06/2024 Purchase of Common Stock 6,625 7.4534 12/06/2024 Purchase of Common Stock 72,875