Corteva adjusts Brian Titus awards for Seed spin-off
Converted pre-2026 performance units remain subject to the original awards’ time-based vesting conditions.
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Form Type
4
Rhea-AI Filing Summary
Corteva, Inc. reported equity-award adjustments for Brian Titus, VP, Corporate Finance & Accounting Officer, on October 1, 2026, in connection with the spin-off of its Seed business. The reported acquisitions were 14,772, 17,661 and 14,393 non-qualified options, with exercise prices of $9.94, $8.67 and $10.28, respectively.
The reported common-stock dispositions were 13,315 shares associated with converting pre-2026 performance stock units into restricted stock units and 11,083 shares representing the difference between the original and adjusted 2026 RSU award. The converted pre-2026 units remain subject to the original time-based vesting conditions.
Insider Trade Summary
Other: 71,224.132 shares
Other
5 txns
Insider
TITUS BRIAN
Role
See Remarks
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Non-Qualified Stock Option (right-to-buy) F3, F4, F5 | 14,772 | $0.00 | $0.00 |
| Other | Non-Qualified Stock Option (right-to-buy) F3, F4, F6 | 17,661 | $0.00 | $0.00 |
| Other | Non-Qualified Stock Option (right-to-buy) F3, F4, F7 | 14,393 | $0.00 | $0.00 |
| Other | Common Stock F1 | 13,315.132 | $0.00 | $0.00 |
| Other | Common Stock F2 | 11,083 | $0.00 | $0.00 |
Holdings After Transaction:
Non-Qualified Stock Option (right-to-buy) — 55,708 contracts (Direct);
Common Stock — 34,462.1238 shares (Direct)
Footnotes (7)
- F1. On October 1, 2026, in connection with Corteva's spin-off of its Seed business (the "Spin-off"), the Reporting Person's Performance Stock Units ("PSUs") granted prior to 2026 were adjusted in accordance with the Employee Matters Agreement, dated October 1, 2026 between Corteva and Vylor Inc. ("EMA") and converted into Restricted Stock Units ("RSUs") based on attainment of performance up to the completion of the Spin-off. The RSUs remain subject to the same time-based vesting conditions as the original PSU award. This amount includes dividend equivalent units ("DEUs") associated with the converted PSUs.
- F2. In connection with the Spin-Off, the Reporting Person's 2026 RSU award was adjusted utilizing the employer method defined under the EMA with an adjustment ratio of 6.2722 (the "Adjustment Ratio"). This amount reported represents the difference between the original grant and the grant as adjusted by the Adjustment Ratio. This amount includes DEUs associated with the converted RSUs.
- F3. In connection with the Spin-off, the exercise price for option awards were adjusted utilizing the employer method defined under the EMA by dividing the original grant price by the Adjustment Ratio.
- F4. In connection with the Spin-off, the number of options were adjusted utilizing the employer method defined under the EMA by multiplying the original number of options by the Adjustment Ratio.
- F5. The original option was granted on February 28, 2023 and is now fully vested and exercisable.
- F6. The original option was granted on February 20, 2024 and 14,005 options are vested and exercisable. The remaining options will vest on 2/20/2027.
- F7. The original option was granted on February 18, 2025 and 5,707 options are vested and exercisable. The remaining options will vest in two equal installments on February 18, 2027 and February 18, 2028.
Key Figures
Non-qualified options: 14,772 options
Exercise price: $9.94 per share
Non-qualified options: 17,661 options
+5 more
8 metrics
Non-qualified options
14,772 options
Adjusted option award; expiration February 28, 2033
Exercise price
$9.94 per share
Non-qualified option award
Non-qualified options
17,661 options
Adjusted option award; expiration February 20, 2034
Exercise price
$8.67 per share
Non-qualified option award
Non-qualified options
14,393 options
Adjusted option award; expiration February 18, 2035
Exercise price
$10.28 per share
Non-qualified option award
Common-stock disposition
13,315 shares
Associated with the conversion of pre-2026 performance stock units
Common-stock disposition
11,083 shares
Difference between the original and adjusted 2026 RSU award
Key Terms
Performance Stock Units, Restricted Stock Units, dividend equivalent units, Employee Matters Agreement, +1 more
5 terms
Performance Stock Units financial
"Reporting Person's Performance Stock Units ("PSUs") granted prior to 2026"
Performance stock units are a type of company award that grants employees shares of stock only if certain performance goals are met. They motivate employees to work toward specific company achievements, aligning their interests with those of shareholders. For investors, they can influence a company's future stock supply and reflect management’s confidence in reaching key targets.
Restricted Stock Units financial
"converted into Restricted Stock Units ("RSUs") based on attainment"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
dividend equivalent units financial
"includes dividend equivalent units ("DEUs") associated with the converted PSUs"
Dividend equivalent units are bookkeeping credits that mirror cash dividends paid on actual shares, granted to holders of stock-based awards such as restricted stock units or deferred compensation. They matter to investors because they increase a company’s reported employee compensation cost and can lead to issuance of more shares or cash payouts over time, similar to extra pay linked to ownership that affects shareholder dilution and corporate cash flow.
Employee Matters Agreement financial
"defined under the EMA with an adjustment ratio"
Adjustment Ratio financial
"an adjustment ratio of 6.2722 (the "Adjustment Ratio")"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What vesting terms apply to Brian Titus’s CTVA options?
The option originally granted February 28, 2023 is fully vested and exercisable. Of the option originally granted February 20, 2024, 14,005 options are vested and exercisable, and the remaining options vest on February 20, 2027. Of the option originally granted February 18, 2025, 5,707 options are vested and exercisable, and the remaining options vest in two equal installments on February 18, 2027 and February 18, 2028.
AI-generated analysis. How Rhea-AI works. Not financial advice.
