Item 8.01 Other Events.

On December 31, 2020, the Board of Directors ("Board") of APi Group Corporation (the "Company") approved a stock dividend of 12,447,912 shares of the Company's common stock (the "Common Stock") with respect to the Company's 4,000,000 shares of Series A preferred stock currently outstanding (the "Preferred Stock"). As previously disclosed, the holder of the Preferred Stock is entitled to receive the first annual dividend amount on the Preferred Stock equal to 20% of the appreciation, if any, of the average market price per share of the Common Stock over the Company's initial offering price of $10.00 per share multiplied by 141,194,638 (being the Preferred Share Dividend Equivalent established in the Company's Certificate of Incorporation) (the "Annual Dividend Amount"). The dividend price was $17.8829 (calculated based upon the volume weighted average share price over the last ten trading days of the year) (the "Dividend Price"). In subsequent years, the Annual Dividend Amount will be calculated based on the appreciated stock price, if any, compared to the highest Dividend Price previously used in calculating the Annual Dividend Amount. Consistent with the Company's previously disclosed intention, the Board elected to settle the 2020 Annual Dividend Amount in shares of Common Stock which were issued on January 4, 2021. After giving effect to such issuance (but before giving effect to the issuance of any shares of Common Stock upon vesting of the Company's restricted stock units on January 1, 2021), the Company has 180,499,936 shares of Common Stock outstanding.

--------------------------------------------------------------------------------

© Edgar Online, source Glimpses