Monitor the October 29 stockholder vote outcome and any regulatory approval announcements. The option exercise deadlines (December 1 for 2016 grants, December 4 blackout start) create a window for option holders to act, which could affect TYFG's share count and merger consideration elections.
Price Chart
Executive Summary
HBT Financial, Inc. filed a Rule 425 communication providing a Q&A to Tri-County Financial Group (TYFG) stock option holders about the treatment of their options in the pending merger. Outstanding options will be cancelled and converted into a cash payment based on HBT's VWAP price and the 2.4589 exchange ratio, with an option exercise blackout period starting December 4, 2026. The special stockholder vote is scheduled for October 29, 2026, and the deal remains on track to close early Q1 2027 with no changes to terms.
Key Financial Metrics
Key Facts
- Special meeting of TYFG stockholders to approve the merger is scheduled for October 29, 2026.
- Exchange ratio is 2.4589 shares of HBT common stock per share of TYFG common stock.
- Outstanding TYFG stock options will be cancelled and converted into a cash payment based on HBT's VWAP price over the 10 trading days ending on the fifth trading day prior to closing.
- Option exercise blackout period begins at 5:00 PM CST on December 4, 2026.
- Options granted in 2016 expire on December 1, 2026, and must be exercised by that date or be forfeited.
- Option holders must sign and return a cancellation agreement to receive the cash payment; agreements expected to be provided in November 2026.
- The merger is expected to close early Q1 2027, subject to stockholder approval and regulatory approvals.
Financial Impact
No new financial figures disclosed; illustrative example assumes HBT VWAP of $35.00 and option exercise price of $47.50, yielding a cash payment of $3,856.15 for 100 options before taxes.
Risk Factors
- Stockholder approval may not be obtained at the October 29 special meeting.
- Regulatory approvals may be delayed or denied, pushing back the expected early Q1 2027 close.
- HBT's stock price fluctuation could materially change the cash payment to option holders.
- Option holders who fail to exercise 2016-vintage options by December 1, 2026, will forfeit them entirely.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 4 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 425 Filing (Primary) | 0000775215-26-000087 |
| Document: 0000775215-26-000087-index-headers.html | 0000775215-26-000087 |
| Document: 0000775215-26-000087-index.html | 0000775215-26-000087 |
| Document: 0000775215-26-000087.txt | 0000775215-26-000087 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 26, 2026 1d ago | 425 | $81.05 | awaiting T+20 | — | $83.00 (+2.41%) |
Oct 26, 2026 1d ago | 425 | $81.05 | awaiting T+20 | — | $83.00 (+2.41%) |
Aug 10, 2026 11w ago | 8-K / 425 | $79.40 $79.01 | ▼ −0.49% | ▲ +0.42% | $83.00 (+4.53%) |
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