[Form 4] Enova International, Inc. Insider Trading Activity

Rhea-AI Filing Summary

David Fisher, Chief Executive Officer and a director of Enova International, Inc. (ENVA), reported transactions dated 09/04/2025. He acquired 20,000 shares through exercise of non-qualified stock options/SARs at an exercise price of $23.96 (reported as a non-derivative acquisition at $23.96) and concurrently sold 20,000 shares in multiple trades at a weighted-average sale price of $121.956 (actual trade prices ranged from $120.67 to $123.40). Following these transactions his beneficial ownership is reported as 348,223 shares. The option/SAR package vests in three equal installments (vesting completed by 02/12/2022) and the SAR has special exercise conditions tied to a change-in-control or qualifying offer. The Form 4 was signed on behalf of the reporting person by an attorney-in-fact on 09/08/2025.

Positive

• Option exercise converted compensation into equity, increasing common shares owned before the sale by 20,000 shares.
• Realized proceeds from sale at a weighted-average price of $121.956, materially above the exercise price of $23.96.
• Substantial remaining ownership of 348,223 shares after the transactions, maintaining insider alignment with shareholders.

Negative

• Sale of 20,000 shares reduced the reporting person's holdings, lowering direct share count from 368,223 to 348,223.
• SAR exercise is contingent on a change-in-control or qualifying offer, meaning potential upside from the SAR is not currently accessible.

Insights

Corporate Governance Expert

TL;DR: Insider exercised options at a low strike and sold an equal number of shares at ~5x the strike, reducing holdings modestly while realizing proceeds.

This Form 4 documents a routine executive option exercise paired with an open-market sale of the same number of shares. The exercise price of $23.96 is substantially below the reported weighted-average sale price of $121.956, indicating the exercise was economically accretive to the reporting person. The SAR component has termination and offer-triggered payout conditions which remain relevant to future compensation outcomes. No new employment, change-in-control, or unusual lockup terms are disclosed in the filing itself.

Compensation/Equity Analyst

TL;DR: This is a standard option exercise plus market sale; it converts long-dated compensation into cash while keeping substantial equity ownership.

The options vested by 02/12/2022 and were exercised on 09/04/2025 for 20,000 shares at $23.96. The simultaneous sale of 20,000 shares at a weighted average near $121.96 realizes significant gain for the insider. Post-transaction ownership of 348,223 shares remains substantial, preserving alignment with shareholders. The filing provides full trade-price range disclosure upon request to regulators or shareholders.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Fisher David

(Last) (First) (Middle)

C/O ENOVA INTERNATIONAL, INC.

175 W. JACKSON BOULEVARD, SUITE 600

(Street)

CHICAGO IL 60604

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Enova International, Inc. [ ENVA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, par value $0.00001 per share	09/04/2025		M		20,000	A	$23.96	368,223	D
Common stock, par value $0.00001 per share	09/04/2025		S		20,000	D	$121.956(1)	348,223	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy) with limited SAR(2)(3)	$23.96	09/04/2025		M			20,000	(4)	02/12/2026	Common stock; par value $0.00001 per share	20,000	$0	115,562	D

Explanation of Responses:

1. This transaction was executed in multiple trades at prices ranging from $120.67 to $123.40. The price reported above reflects the weighted average sale price. The Reporting Person hereby undertakes to provide upon request to the SEC staff, the Issuer, or a stockholder of the Issuer full information regarding the number of shares and the prices at which the transaction was effected.

2. The limited stock appreciation right ("SAR") and employee stock option were granted in tandem. Accordingly, the exercise of one results in the expiration of the other. The SAR may be exercised only during the period beginning on the first day following the date that a "Change in Control" of Issuer occurs (as defined in the related grant agreement) and ending on the thirtieth day following such date. Upon exercise, the grantee shall be able to receive an amount equal to the product computed by multiplying (i) the excess of the "Offer Value Per Share" over the exercise price of the underlying option by (ii) the number of shares with respect to which the SAR is being exercised; provided, that such amount shall only be payable in the event an "Offer" is made.

3. The "Offer Value Per Share" means the average selling price of Issuer's common stock during the period of 30 days ending on the date on which the SAR is exercised. "Offer" means any tender offer or exchange offer for outstanding shares of Issuer representing at least 30% of the total voting power of the stock of Issuer, or an offer to purchase assets from Issuer that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of Issuer, other than an offer made by Issuer.

4. The options vested in substantially equal one-third increments on each of the following dates: February 12, 2020, February 12, 2021, and February 12, 2022.

	/s/ Sean Rahilly, as attorney in fact	09/08/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What transactions did Enova (ENVA) insider David Fisher report on Form 4?

He acquired 20,000 shares by exercising options/SARs at an exercise price of $23.96 and sold 20,000 shares in multiple trades at a weighted-average price of $121.956 on 09/04/2025.

How many shares does David Fisher own after these Form 4 transactions?

The filing reports beneficial ownership of 348,223 shares following the reported transactions.

Were the sale trade prices for the 20,000 shares disclosed?

Yes; the filing states the sale executed in multiple trades with prices ranging from $120.67 to $123.40, and the reported weighted-average sale price is $121.956.

What are the exercise and vesting details of the options reported?

The non-qualified stock options had an exercise price of $23.96 and vested in equal one-third increments on 02/12/2020, 02/12/2021, and 02/12/2022.

Does the Form 4 indicate any change-in-control or special conditions for SARs?

Yes; the limited SARs can only be exercised following a defined Change in Control and payout depends on an "Offer" as defined in the grant agreement.

Who signed the Form 4 and when?

The Form 4 was signed by /s/ Sean Rahilly, as attorney in fact on behalf of the reporting person on 09/08/2025.