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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported):
June 16, 2026
CORVEX, INC.
(Exact name of registrant as specified in its charter)
| Delaware |
|
001-40254 |
|
82-4233771 |
|
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(I.R.S. Employer
Identification No.) |
| 3401 North Fairfax Drive, Suite 3230, Arlington, Virginia |
|
22226 |
| (Address of Principal Executive Offices) |
|
(Zip Code) |
Registrant’s telephone number, including
area code: ((866) GET-GPUS ((866) 438-4787)
Not Applicable
(Former name or former address, if changed since
last report)
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| |
|
| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| |
|
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| |
|
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b)
of the Act:
| Title of each class |
|
Trading Symbol(s) |
|
Name of each exchange on which registered |
| Common Stock, $0.0001 par value per share |
|
MOVE |
|
The Nasdaq Stock Market LLC |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
5.02. Departure of
Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On June 16, 2026, Corvex,
Inc. (the “Company”) announced the appointment of Chance Moreland as Chief Financial Officer, effective June 29, 2026.
Mr. Moreland, age 44,
served in a series of roles with increasing scope of responsibilities at Morgan Stanley, including as a Managing Director of Leveraged
Finance from January 2022 through June 2026 and as an Executive Director of Leveraged Finance from January 2019 through January 2022.
Mr. Moreland received a B.A. in Economics and a B.S. in Physics-Engineering from Washington and Lee University, an M.S. in Aeronautics
and Astronautics from Stanford University, and an M.B.A. from Columbia Business School
In connection with his
appointment, the Company entered into an employment agreement with Mr. Moreland (the “Employment Agreement”), pursuant to
which he will receive an annual base salary of $425,000 and will be eligible to earn an annual performance bonus of up to 100% of his
then current base salary.
Pursuant to the Employment
Agreement, Mr. Moreland will be granted (1) 523,211 restricted stock units, which will vest in four equal annual installments, and (2)
523,211 performance stock units (“PSUs”), assuming maximum achievement of the applicable performance goals. The PSUs will
become earned and vest pursuant to, and otherwise be subject to, the terms and conditions to be established by the Company for senior
executives of the Company under the Company’s 2026 calendar year PSU program. The vesting of all such equity awards is subject to
Mr. Moreland’s continued employment with the Company.
If Mr. Moreland is terminated
without cause or resigns for good reason, he will be entitled under the Employment Agreement to receive certain severance benefits including
(1) a severance payment an amount equal to one times annual base salary plus 12 months of premium payments for COBRA coverage for health,
dental and vision coverage, (2) a prorated target bonus for the year of termination, (3) prorated accelerated vesting of all time-based
equity awards (based on the number of days of employment during the vesting period and, with respect to each award, reduced by the number
of shares or units previously vested during the vesting period), and (4) prorated accelerated vesting of all performance-based equity
awards at the greater of target or actual performance (with proration based on the number of days of employment during the performance
period).
J. Cogan will continue
to serve as the Company’s Chief Financial Officer until Mr. Moreland’s appointment to that office effective June 29, 2026.
7.01. Regulation FD
Disclosure.
The Company issued a
press release, dated June 16, 2026, announcing Mr. Moreland’s appointment as Chief Financial Officer. A copy of the press release
is attached as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
Exhibits
The following exhibits are filed herewith:
| Exhibit No. |
|
Exhibit Description |
| 99.1 |
|
Press release, dated June 16, 2026 |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
| |
CORVEX, INC. |
| |
|
|
| Date: June 16, 2026 |
By: |
/s/ J Cogan |
| |
|
J Cogan |
| |
|
Chief Financial Officer |
Exhibit 99.1
Corvex Appoints Chance Moreland as CFO to Accelerate Capital Formation,
AI Infrastructure Expansion
Morgan Stanley veteran brings deep expertise in institutional capital
markets execution to support Corvex’s next phase of growth in AI cloud infrastructure
ARLINGTON, Va., June 16, 2026 /PRNewswire/ -- Corvex, Inc. (Nasdaq:
MOVE), an engineering-led AI computing platform specializing in GPU-accelerated infrastructure for AI workloads, today announced the appointment
of Christopher Chance Moreland as Chief Financial Officer, effective June 29, 2026.
Moreland joins Corvex from Morgan Stanley, where he served as Managing
Director in Leveraged and Acquisition Finance. During his more than 12 years at the firm, Moreland led the structuring and execution of
complex financings across loan and bond markets, advising on over 150 transactions, including multi-billion-dollar financings across GPUs
as a service, data center, power and energy, asset leasing, and other sectors.
His appointment comes at a pivotal moment for Corvex as it scales its
AI infrastructure platform following its recent public listing. The Company’s model — combining contracted demand, flexible
access to power, proprietary software to optimize workload performance and security, and disciplined capital formation — requires
sophisticated, repeatable financing capabilities across both corporate and project-level structures. Moreland brings highly relevant expertise
with a track record of underwriting and syndicating large, complex transactions in capital-intensive industries.
“Corvex sits at the intersection of AI compute, power infrastructure,
and capital markets, and Chance has spent his career executing in exactly these environments,” said Jay Crystal, Chief Executive
Officer and Co-Founder of Corvex. “He is one of the most active and trusted dealmakers in leveraged finance with a proven ability
to structure and place large-scale financings in dynamic markets. As we scale our GPUs-as-a-service infrastructure and AI data center
capacity, and continue to invest in our proprietary software stack to enhance performance, security, and the economics of our infrastructure,
his experience will be critical in building a durable, programmatic capital formation engine.”
At Morgan Stanley, Moreland was responsible for structuring capital
commitments and managing underwriting processes across a range of deal types and clients. His experience provides him with a nuanced understanding
of market dynamics, investor demand, and execution risk, capabilities that are essential as Corvex scales deployments aligned with customer
demand.
“The next phase of AI infrastructure will be defined by platforms
that can reliably access and deploy capital at scale,” said Moreland. “Corvex has built a differentiated model that aligns
compute demand, power availability, and capital efficiency. The opportunity to help institutionalize and scale that model, across both
corporate financing and project-level structures, is incredibly compelling. I’m excited to join a team that is taking a disciplined,
execution-focused approach to building AI infrastructure and differentiating itself through a software-driven approach that improves performance,
enables secure compute through confidential computing, and ultimately enhances returns on deployed capital.”
Moreland’s appointment underscores Corvex’s focus on building
institutional-grade financial capabilities to support rapid, capital-efficient growth. As AI workloads become more infrastructure-intensive,
Corvex is positioned to serve as a trusted platform for deploying capital into GPU-accelerated compute environments, leveraging long-term
contracts, flexible power strategies, and a software-centric approach that increases the output and efficiency of its upcoming Token Factory
environments.
Moreland holds an MBA with Dean’s Honors from Columbia Business
School, a Master of Science in Aeronautics and Astronautics from Stanford University, and dual degrees in Economics and Physics-Engineering
from Washington and Lee University. He is also a CFA® charterholder.
About Corvex
Corvex is an AI cloud computing company specializing
in GPU-accelerated infrastructure for AI workloads. Corvex’s platform allows organizations to leverage the advantage of AI by providing
secure, scalable, and cost-efficient computational resources. Corvex’s infrastructure leverages advanced GPU-accelerated compute clusters,
high-throughput storage systems and layered architecture to provide enhanced security, consistent performance, and efficiency at scale.
Corvex’s platform integrates proprietary software, including confidential computing and workload optimization tools, to enhance
security, performance, and capital efficiency across its infrastructure.
Cautionary Statements Regarding Forward-Looking Statements
This press release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act of 1995 that are based upon current expectations or beliefs, as well
as assumptions about future events. Forward-looking statements include all statements that are not historical facts and can generally
be identified by terms such as “could,” “estimate,” “expect,” “intend,” “may,” “plan,”
“potentially,” or “will” or similar expressions and the negatives of those terms. These statements include, but are
not limited to, statements relating to product capabilities, customer deployment, business strategy, growth plans and objectives for
future operations. Actual results could differ materially from those expressed in or implied by the forward-looking statements due to
a number of risks and uncertainties, including the risks and uncertainties described in the Company’s SEC reports, and under the heading
“Risk Factors” in its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, which are available at www.sec.gov
and in other filings the Company makes and will make with the SEC. The forward-looking statements contained herein speak only as of the
date of this press release. Except as required by law, the Company does not undertake any obligation to update or revise its forward-looking
statements to reflect events or circumstances after the date of this press release.
Media Contact
Chris Donahoe, Stillpoint
corvex.media@stillpointglobaladvisors.com
