Corvex director granted 135,800 RSUs, swaps preferred
Corvex, Inc. director Emily Fairbairn reported new equity awards and a preferred stock exchange.
Rhea-AI Filing Summary
Corvex, Inc. director Emily Fairbairn reported new equity awards and a preferred stock exchange. She received 135,800 time-based restricted stock units in Common Stock that vest in three equal annual installments, bringing her directly held common shares to 228,577.
Separately, an entity associated with her, Moira Partners, LLC, exchanged 858.5403 shares of Series C Preferred Stock for 858.5403 shares of Series D Preferred Stock on a one-for-one basis under an Exchange Agreement. Both series are perpetual and each share converts into 1,000 shares of Common Stock, with Series C scheduled to convert on July 7, 2026 and Series D convertible upon delivery of a conversion notice.
Positive
- None.
Negative
- None.
Insider Trade Summary
3 transactions reported
Mixed
3 txns
Insider
FAIRBAIRN EMILY
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Series C Preferred Stock | 858.5403 | $0.00 | $0.00 |
| Grant/Award | Series D Preferred Stock | 858.5403 | $0.00 | $0.00 |
| Grant/Award | Common Stock | 135,800 | $0.00 | $0.00 |
Holdings After Transaction:
Series C Preferred Stock — 1,205.2825 contracts (Indirect, See footnote);
Series D Preferred Stock — 858.5403 contracts (Indirect, See footnote);
Common Stock — 228,577 shares (Direct)
Footnotes (7)
- F1. Represents a grant of time-based restricted stock units that vest in three equal annual installments from the grant date.
- F2. As a result of the Company's stock dividend, each share of Common Stock issued and outstanding at the close of business on March 30, 2026 was automatically converted into 1.358 shares of Common Stock and was distributed on approximately April 6, 2026. The amounts reported on this Form 4 reflect the impacts of such stock dividend.
- F3. The shares of Series C Preferred Stock will convert at a conversion ratio of 1 to 1000 shares of common stock on July 7, 2026.
- F4. On July 1, 2026, the Reporting Person exchanged 858.5403 shares of Series C Preferred Stock for 858.5403 shares of Series D Preferred Stock on a one-for-one basis pursuant to an Exchange Agreement entered into with the Issuer.
- F5. The preferred stock is perpetual and therefore has no expiration date.
- F6. The securities are held by the Moira Partners, LLC. Emily Fairbairn is the Managing Member of Moira Partners and has voting and investment power over the securities held by Moira Partners. Ms. Fairbairn disclaims beneficial ownership of the securities held by Moira Partners, except to the extent of her pecuniary interest therein.
- F7. The shares of Series D Preferred Stock will convert at a conversion ratio of 1 to 1000 shares of common stock upon the delivery of a conversion notice by the Reporting Person to the Issuer.
Key Figures
RSU grant: 135,800 shares
Common shares after grant: 228,577 shares
Series C exchanged: 858.5403 shares
+5 more
8 metrics
RSU grant
135,800 shares
Time-based restricted stock units in Common Stock granted to director
Common shares after grant
228,577 shares
Direct Common Stock holdings following RSU award
Series C exchanged
858.5403 shares
Series C Preferred Stock exchanged by Moira Partners, LLC
Series D received
858.5403 shares
Series D Preferred Stock received in one-for-one exchange
Underlying common per preferred share
1,000 shares
Conversion ratio for both Series C and Series D Preferred Stock
Underlying common per block
858,540 shares
Common Stock underlying each 858.5403-share preferred block
Series C conversion date
July 7, 2026
Scheduled date when Series C Preferred converts into Common Stock
Vesting schedule
3 annual installments
RSUs vest in three equal annual installments from grant date
Key Terms
restricted stock units, Series C Preferred Stock, Series D Preferred Stock, Exchange Agreement, +2 more
6 terms
restricted stock units financial
"Represents a grant of time-based restricted stock units that vest in three equal annual installments"
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.
Series C Preferred Stock financial
"The shares of Series C Preferred Stock will convert at a conversion ratio of 1 to 1000 shares"
A Series C preferred stock is a specific class of ownership issued during a later funding round that gives holders priority over common shareholders for getting paid and receiving dividends, like having a reserved lane in traffic when money is distributed. It often includes agreed rights such as a fixed payout, protection against dilution, and the option to convert into common shares, so investors treat it as a mix of safety and upside potential.
Series D Preferred Stock financial
"The shares of Series D Preferred Stock will convert at a conversion ratio of 1 to 1000 shares"
Series D preferred stock is a specific class of preferred shares typically issued in a later-stage financing round that gives holders special rights such as priority for payout before common shareholders, fixed or cumulative dividends, and often the option to convert into common shares. Investors care because these shares affect who gets paid first in a sale or liquidation, influence ownership and voting power, and change how future fundraising or an exit will impact an investor’s return—like a VIP ticket that can sometimes be exchanged for a regular ticket if that proves more valuable.
Exchange Agreement financial
"exchanged 858.5403 shares of Series C Preferred Stock for Series D pursuant to an Exchange Agreement"
A written deal in which two parties agree to swap assets, securities or obligations under set terms—think of it as a formal swap or trade contract. For investors it matters because such agreements can change who owns what, alter a company’s capital structure, affect future cash flows or dilute existing shares, and therefore influence value and risk in a straightforward, contract-driven way.
conversion ratio financial
"will convert at a conversion ratio of 1 to 1000 shares of common stock"
The conversion ratio is the number of common shares an investor receives when a convertible security (like a bond or preferred share) or an exchangeable instrument is turned into ordinary stock. It matters because it tells investors how much ownership or dilution will occur — similar to knowing how many slices you get when you trade in a coupon — and directly affects the value you get from the convertible and the company’s future share count.
perpetual financial
"The preferred stock is perpetual and therefore has no expiration date"
Perpetual describes a financial instrument or obligation that has no fixed end date and can continue indefinitely unless the issuer chooses to end it. For investors, that means there is no scheduled return of principal, so value depends on ongoing payments, issuer stability and market interest rates—similar to receiving rent from a property with no set sale date. Perpetual instruments often pay higher yields to compensate for that open-ended risk.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What equity award did Corvex (MOVE) director Emily Fairbairn receive?
Emily Fairbairn received a grant of 135,800 time-based restricted stock units in Corvex Common Stock. These RSUs vest in three equal annual installments from the grant date, providing staged ownership over time rather than all shares becoming fully owned immediately.
What preferred stock exchange occurred for Corvex (MOVE) in this Form 4?
An entity associated with Emily Fairbairn, Moira Partners, LLC, exchanged 858.5403 shares of Series C Preferred Stock for 858.5403 shares of Series D Preferred Stock. The exchange was done on a one-for-one basis pursuant to an Exchange Agreement entered into with Corvex.
What are the conversion terms of Corvex (MOVE) Series C and Series D Preferred Stock?
Each share of Corvex Series C and Series D Preferred Stock converts into 1,000 shares of Common Stock. Series C will convert on July 7, 2026, while Series D converts when the reporting person delivers a conversion notice to the company.
Who holds the Corvex (MOVE) preferred stock reported in this filing?
The Series C and Series D Preferred Stock are held by Moira Partners, LLC. Emily Fairbairn is the Managing Member, has voting and investment power over these securities, and disclaims beneficial ownership except to the extent of her pecuniary interest in Moira Partners.
AI-generated analysis. How Rhea-AI works. Not financial advice.
