Corvex (MOVE) CEO reports Series B preferred stock converting into common shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corvex, Inc. Chief Executive Officer Crystal John Adler III reported automatic conversions of Series B Preferred Stock into common stock on March 31, 2026. A total of 14.9652 shares of Series B Preferred Stock converted into 14,965 shares of common stock held directly, bringing his direct common stock holdings to 3,069,200 shares, which include unvested restricted stock units. An additional 3.1677 shares of Series B Preferred Stock converted into 3,167 shares of common stock held indirectly in the John Adler Crystal III Roth IRA, an account over which he has sole voting and dispositive power while disclaiming beneficial ownership beyond his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
18.133 shares exercised/converted
Mixed
4 txns
Insider
Crystal John Adler III
Role
Chief Executive Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series B Preferred Stock | 14.965 | $0.00 | -- |
| Conversion | Series B Preferred Stock | 3.168 | $0.00 | -- |
| Conversion | Common Stock | 14,965 | $0.00 | -- |
| Conversion | Common Stock | 3,167 | $0.00 | -- |
Holdings After Transaction:
Series B Preferred Stock — 0 shares (Direct);
Series B Preferred Stock — 0 shares (Indirect, See footnote (3));
Common Stock — 3,069,200 shares (Direct);
Common Stock — 3,167 shares (Indirect, See footnote (3))
Footnotes (1)
- Based on automatic conversion of 14.9652 shares of Series B Convertible Preferred Stock, par value $0.0001 per share (the "Series B Preferred Stock") into shares of common stock at a conversion ratio of 1 to 1,000 shares of common stock (as adjusted for fractional shares paid in cash). Includes unvested restricted stock units. Based on automatic conversion of 3.1677 shares of Series B Preferred Stock into shares of common stock at a conversion ratio of 1 to 1,000 shares of common stock (as adjusted for fractional shares paid in cash). The securities are held by John Adler Crystal III Roth IRA ("Roth IRA") for the benefit of the Reporting Person. The Reporting Person has sole voting and dispositive power over the common stock held by the Roth IRA. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein. The Series B Preferred Stock automatically converts into shares of common stock on March 31, 2026 at a conversion ratio of 1 to 1000 shares of common stock. The preferred stock is perpetual and therefore has no expiration date
Key Figures
Preferred converted (direct): 14.9652 shares Series B
Preferred converted (indirect): 3.1677 shares Series B
Direct common holdings after: 3,069,200 shares
+2 more
5 metrics
Preferred converted (direct)
14.9652 shares Series B
Converted into 14,965 common shares on March 31, 2026
Preferred converted (indirect)
3.1677 shares Series B
Converted into 3,167 common shares via Roth IRA on March 31, 2026
Direct common holdings after
3,069,200 shares
Common stock holdings including unvested RSUs after conversion
Indirect common holdings after
3,167 shares
Common stock held by John Adler Crystal III Roth IRA
Conversion ratio
1:1,000
Series B Preferred Stock to common stock automatic conversion ratio
Key Terms
Series B Preferred Stock, automatic conversion, restricted stock units, Roth IRA, +1 more
5 terms
Series B Preferred Stock financial
"Based on automatic conversion of 14.9652 shares of Series B Convertible Preferred Stock"
Series B preferred stock is a type of ownership share issued by a company that offers certain advantages over common stock, such as priority in receiving dividends or assets if the company is sold or liquidated. It is typically issued after an initial round of funding, making it a way for investors to support a company's growth while gaining some protections and benefits. This stock matters to investors because it often provides a more secure investment position with potential for future growth.
automatic conversion financial
"Based on automatic conversion of 14.9652 shares of Series B Convertible Preferred Stock"
restricted stock units financial
"Includes unvested restricted stock units."
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.
Roth IRA financial
"The securities are held by John Adler Crystal III Roth IRA"
A Roth IRA is a retirement savings account you fund with money that’s already been taxed, and withdrawals taken in retirement under the account rules are tax-free. It matters to investors because it shifts the tax bill to today instead of retirement, potentially increasing after-tax income later—think of it like paying for a lifetime subscription now so you can use it without extra charges in the future—helpful for long-term tax planning and flexibility.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
