Enova (NYSE: ENVA) CEO awarded 10,674 options at $166.88 strike price
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Enova International, Inc. reported that Chief Executive Officer Steven E. Cunningham received a grant of 10,674 non-qualified stock options with a tandem stock appreciation right. The options carry an exercise price of $166.88 per share and are exercisable for Enova common stock.
The options vest in substantially equal one-third increments on May 13, 2027, May 13, 2028, and May 13, 2029, contingent on continued employment. The award, including the limited stock appreciation right, expires on May 13, 2033 and represents compensation, not an open-market share purchase or sale.
Positive
- None.
Negative
- None.
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 | 10,674 | $0.00 | -- |
Holdings After Transaction:
Non-Qualified Stock Option (right to buy) with limited SAR — 10,674 shares (Direct, null)
Footnotes (1)
- 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. 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. 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
Option grant size: 10,674 options
Exercise price: $166.88 per share
Shares underlying options: 10,674 shares
+3 more
6 metrics
Option grant size
10,674 options
Non-qualified stock option award to CEO
Exercise price
$166.88 per share
Strike price of granted options
Shares underlying options
10,674 shares
Common stock underlying the option grant
Post-grant derivative holdings
10,674 options
Total options following this award
Option expiration
May 13, 2033
Expiration date of the granted options and SAR
Vesting dates
May 13, 2027, 2028, 2029
Three substantially equal annual vesting tranches
Key Terms
Non-Qualified Stock Option, stock appreciation right, Change in Control, Offer Value Per Share, +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.
Change in Control financial
"during the period 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.
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.
