Enova International (NYSE: ENVA) awards 1,500 options to CFO Scott
Rhea-AI Filing Summary
Enova International reported that CFO Cornelis Scott received a grant of 1,500 non-qualified stock options with a tandem limited stock appreciation right, exercisable at $257.79 per share and expiring on August 5, 2033. The options vest in substantially equal one-third increments on August 5, 2027, August 5, 2028, and August 5, 2029, subject to continued employment. The related SAR becomes exercisable only for a 30-day period following a Change in Control and a qualifying offer, with value based on the excess of the Offer Value Per Share over the option exercise price.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Cornelis Scott
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Non-Qualified Stock Option (right to buy) with limited SAR F1, F2, F3 | 1,500 | $0.00 | $0.00 |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) with limited SAR — 1,500 shares (Direct)
Footnotes (3)
- F1. 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.
- F2. 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.
- F3. The options shall vest in substantially equal one-third increments on each of the following dates as long as grantee serves as an employee of Issuer or an affiliate thereof through the applicable vesting date: August 5, 2027, August 5, 2028 and August 5, 2029.
Key Figures
Options granted: 1,500 shares
Exercise price: $257.79 per share
Expiration date: August 5, 2033
+2 more
5 metrics
Options granted
1,500 shares
Non-qualified stock options with tandem limited SAR granted to CFO Cornelis Scott
Exercise price
$257.79 per share
Exercise price of the reported non-qualified stock options
Expiration date
August 5, 2033
Expiration date for the options and limited SAR
Underlying shares
1,500 shares
Common stock underlying the granted options and tandem SAR
Vesting dates
August 5, 2027; August 5, 2028; August 5, 2029
Options vest in substantially equal one-third increments on these dates
Key Terms
limited stock appreciation right, Change in Control, Offer Value Per Share, tender offer
4 terms
limited stock appreciation right financial
"The limited stock appreciation right and employee stock option were granted in tandem."
Change in Control financial
"The SAR may be exercised only during the period after a Change in Control occurs."
A "change in control" occurs when the ownership or management of a company shifts significantly, such as through a merger, acquisition, or sale of a large part of its assets. This change can impact how the company is run and may influence its future direction. For investors, it matters because it can affect the company's stability, strategy, and value, often signaling potential changes in investment risk or opportunity.
tender offer financial
"Offer means any tender offer or exchange offer for outstanding shares meeting specified thresholds."
A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What transaction did Enova International (ENVA) report for CFO Cornelis Scott?
Enova International reported that CFO Cornelis Scott received a grant of 1,500 non-qualified stock options with a limited stock appreciation right, exercisable at $257.79 per share and expiring on August 5, 2033.
When do the stock options granted to Enova (ENVA) CFO Cornelis Scott vest?
The options vest in substantially equal one-third increments on August 5, 2027, August 5, 2028 and August 5, 2029, as long as Scott continues serving as an employee through each applicable vesting date.
What are the key terms of the limited stock appreciation right in ENVA’s Form 4?
The limited SAR may be exercised only during a 30-day period after a Change in Control and qualifying offer, and pays the product of the excess of Offer Value Per Share over the $257.79 exercise price multiplied by the shares exercised, only if an offer is made.
Was the Enova (ENVA) CFO option grant reported under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not marked as affirmed, indicating the reported grant was not disclosed as being made pursuant to a Rule 10b5-1 trading plan.