CCRD insider filing: merger share conversion and option cash-out
Rhea-AI Filing Summary
CoreCard (CCRD) director reported merger-related transactions. On 10/30/2025, the reporter disposed of common shares in connection with CoreCard’s merger into Euronet. Each CoreCard share was converted into the right to receive 0.3142 shares of Euronet common stock and cash in lieu of fractional shares, per the merger terms.
Four stock option grants (4,000 shares each at exercise prices of $3.50, $3.86, $7.80, and $39.11) became fully vested and were automatically terminated at closing and converted into a cash right based on the exchange ratio and Euronet’s specified VWAP formula. Following these transactions, the filing shows 0 derivative securities beneficially owned.
Positive
- None.
Negative
- None.
Insights
Merger conversion and option cash-out; administrative update.
The filing documents a completed merger where each CoreCard share converted into the right to receive 0.3142 Euronet shares and cash for fractions. This is a standard share-for-share conversion with no ongoing CoreCard equity remaining post-close for the reporter.
All listed stock options (four tranches of 4,000) vested at the effective time, were terminated, and converted into a cash amount determined by the exchange ratio and a defined Euronet VWAP less the option exercise price. The outcome reflects mechanical application of the merger agreement.
From an investment perspective, this is procedural and does not independently signal performance. Actual impact rests on the merger terms already disclosed and Euronet share pricing used in the formula.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Stock Option (right to buy) | 4,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy) | 4,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy) | 4,000 | $0.00 | -- |
| Disposition | Stock Option (right to buy) | 4,000 | $0.00 | -- |
| Disposition | Common stock, par value $.01 per share | 7,434 | $0.00 | -- |
Footnotes (1)
- The shares were disposed of pursuant to the Agreement and Plan of Merger (the "Merger Agreement") by and among CoreCard Corporation ("Company"), Euronet Worldwide, Inc. ("Euronet"), and Genesis Merger Sub Inc., a wholly owned subsidiary of Euronet ("Merger Sub"). Pursuant to the Merger Agreement, on October 30, 2025, Merger Sub merged with and into Company (the "Merger"), with Company surviving the Merger as a wholly owned subsidiary of Euronet. At the effective time of the Merger (the "Effective Time"), each issued and outstanding share of Company's common stock, par value $0.01 per share ("Company Common Stock"), was converted into the right to receive 0.3142 shares of Euronet's common stock, par value $0.02 per share (the "Euronet Common Stock" and such ratio, the "Exchange Ratio") and cash payable in lieu of fractional shares (collectively, the "Per Share Merger Consideration"), as described in the Merger Agreement. Each stock option to purchase shares of Company Common Stock represents a contingent right to purchase one share of Company Common Stock. Pursuant to the Merger Agreement, each Company stock option that was outstanding and unexercised immediately prior to the Effective Time became fully vested and exercisable, and was automatically terminated, and was converted into the right to receive an amount in cash in respect of each share subject thereto equal to the excess of (x) the product of the Exchange Ratio multiplied by the volume weighted average price per share of Euronet Common Stock on the NASDAQ Global Select Market for the fifteen consecutive trading days ending on, and including, the second full trading day prior to the Effective Time over (y) the per share exercise price. The stock option is fully vested and exercisable.
