Enova International (NYSE: ENVA) grants CEO 7,359 stock options with SARs
Rhea-AI Filing Summary
Enova International Chief Executive Officer Steven E. Cunningham received a grant of 7,359 non-qualified stock options paired with limited stock appreciation rights to acquire Enova common stock at an exercise price of $257.79 per share. These awards vest in three substantially equal annual installments on August 5, 2027, 2028 and 2029 and expire on August 5, 2033. The SAR component is exercisable only in connection with a defined Change in Control and a qualifying offer, with value based on the excess of an Offer Value Per Share over the option exercise price.
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Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Cunningham Steven E
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Non-Qualified Stock Option (right to buy) with limited SAR F1, F2, F3 | 7,359 | $0.00 | $0.00 |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) with limited SAR — 7,359 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: 7,359 shares
Exercise price: $257.79 per share
Expiration date: August 5, 2033
+2 more
5 metrics
Options granted
7,359 shares
Non-qualified stock options with limited SAR granted to CEO Steven E. Cunningham on August 5, 2026
Exercise price
$257.79 per share
Exercise price of the options granted August 5, 2026
Expiration date
August 5, 2033
Expiration of the non-qualified stock options and tandem SAR
Vesting dates
August 5, 2027; August 5, 2028; August 5, 2029
Options vest in substantially equal one-third increments on each listed date
Underlying shares
7,359 shares
Number of Enova common shares underlying the option and SAR grant
Key Terms
limited stock appreciation right ("SAR"), Change in Control, Offer Value Per Share, tender offer or exchange offer
4 terms
limited stock appreciation right ("SAR") financial
"The limited stock appreciation right ("SAR") and employee stock option were granted in tandem."
Change in Control regulatory
"The SAR may be exercised only during the period after a defined "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.
tender offer or exchange offer regulatory
""Offer" means any tender offer or exchange offer for outstanding shares representing at least 30% voting power."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What equity award did Enova International (ENVA) CEO Steven Cunningham receive?
Steven E. Cunningham received a grant of 7,359 non-qualified stock options paired with limited stock appreciation rights. The options allow him to purchase Enova common stock at a fixed exercise price and form part of his equity-based executive compensation package.
What are the key terms of the stock appreciation right in ENVA's CEO award?
The limited stock appreciation right (SAR) is granted in tandem with the option and becomes exercisable only after a defined Change in Control. It pays the excess of the Offer Value Per Share over the $257.79 exercise price per share, but only if a qualifying Offer occurs.
When do Steven Cunningham's ENVA stock options vest and expire?
The options vest in substantially equal one-third increments on August 5, 2027, 2028 and 2029, contingent on continued employment. They have an expiration date of August 5, 2033, after which any unexercised options and related SARs lapse.
What is the exercise price of the ENVA stock options granted to the CEO?
The options have an exercise price of $257.79 per share for Enova common stock. This means Cunningham may purchase up to 7,359 underlying shares at $257.79 each, subject to vesting and other terms of the grant agreement.
Does this ENVA Form 4 show a market purchase or sale by the CEO?
No. The Form 4 reports a grant of derivative securities—non-qualified stock options with SARs—coded as an acquisition (A), at a transaction price of $0.00. It does not disclose any open-market purchase or sale of Enova common stock.