Enova CFO gets 2,176 stock options grant
Enova International’s Chief Financial Officer Cornelis Scott reported routine equity compensation activity.
Rhea-AI Filing Summary
Enova International’s Chief Financial Officer Cornelis Scott reported routine equity compensation activity. He received a grant of 2,176 non-qualified stock options with a $166.88 exercise price, expiring on May 13, 2033. These options vest in three equal installments on May 13, 2027, 2028 and 2029.
The filing also shows 544 common shares withheld at $174.90 per share to cover taxes upon vesting of restricted stock units. This tax withholding was determined by the award terms and not by Scott’s discretion. After these transactions, he directly holds 10,547 Enova common shares.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Cornelis Scott
Role
Chief Financial Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Non-Qualified Stock Option (right to buy) with limited SAR | 2,176 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Common stock, par value $0.00001 per share | 544 | $174.90 | $95K |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) with limited SAR — 2,176 contracts (Direct);
Common stock, par value $0.00001 per share — 10,547 shares (Direct)
Footnotes (4)
- F1. This transaction represents the withholding by Enova International, Inc. ("Issuer") of Issuer's shares to pay taxes in connection with the vesting of restricted stock units on the Transaction Date. The timing and amount of the transaction were determined by the terms of the applicable restricted stock and were not within the control of the Reporting Person.
- F2. 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.
- F3. 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.
- F4. 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: May 13, 2027, May 13, 2028 and May 13, 2029.
Key Figures
Options granted: 2,176 options
Option exercise price: $166.88 per share
Option expiration: May 13, 2033
+3 more
6 metrics
Options granted
2,176 options
Non-qualified stock options with limited SAR
Option exercise price
$166.88 per share
Exercise price for 2,176 options
Option expiration
May 13, 2033
Expiration date of granted options
Tax withholding shares
544 shares
Shares withheld to pay RSU-related taxes
Tax withholding price
$174.90 per share
Price used for 544 withheld shares
Shares owned after transactions
10,547 shares
Direct common stock holdings post-transaction
Key Terms
Non-Qualified Stock Option, stock appreciation right, restricted stock units, tender offer, +1 more
5 terms
Non-Qualified Stock Option financial
"Non-Qualified Stock Option (right to buy) with limited SAR"
A non-qualified stock option (NSO) is a contract that lets an employee or service provider buy company shares at a fixed price for a set period, like a voucher to purchase stock later at today’s price. It matters to investors because exercising NSOs creates ordinary income for the holder and can increase share count, affecting a company’s earnings and ownership mix; think of it as a future sale that can dilute existing shareholders and has immediate tax consequences for the recipient.
stock appreciation right financial
"The limited stock appreciation right ("SAR") and employee stock option were granted in tandem."
A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.
restricted stock units financial
"to pay taxes in connection with the vesting of restricted stock units on the Transaction Date."
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.
tender offer financial
""Offer" means any tender offer or exchange offer for outstanding shares of Issuer representing at least 30% of the total voting power"
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.
Change in Control financial
"beginning on the first day following the date that a "Change in Control" of Issuer 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.
FAQ
What insider transactions did Enova (ENVA) CFO Cornelis Scott report?
Enova CFO Cornelis Scott reported a grant of 2,176 non-qualified stock options and a tax-related share withholding of 544 common shares. These moves reflect routine equity compensation and tax settlement activity rather than open-market buying or selling of ENVA stock.
How many Enova (ENVA) stock options were granted to the CFO and at what price?
Cornelis Scott received 2,176 non-qualified stock options with a $166.88 exercise price per share. The options are paired with a limited stock appreciation right and provide potential future upside if Enova’s share price exceeds the exercise level after vesting.
When do the newly granted Enova (ENVA) CFO stock options vest?
The 2,176 stock options granted to Enova CFO Cornelis Scott vest in three substantially equal one-third installments. Vesting dates are May 13, 2027, May 13, 2028, and May 13, 2029, contingent on continued employment with Enova or an affiliate through each vesting date.
What is the limited stock appreciation right mentioned in the Enova (ENVA) filing?
The limited stock appreciation right is paired with the employee stock option so exercising one cancels the other. It may be exercised after a qualifying change in control and related offer, potentially paying the excess of an offer value per share over the option’s $166.88 exercise price.
AI-generated analysis. How Rhea-AI works. Not financial advice.
