Corvex (MOVE) director boosts indirect stake via share conversion
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Corvex, Inc. director Emily Fairbairn reported an automatic conversion of preferred stock into common shares held through affiliated entities. On July 7, 2026, 1,205.2825 shares of Series C Non-Voting Convertible Preferred Stock converted into 1,205,282 common shares at a 1-to-1,000 ratio.
The converted shares, together with existing holdings, are owned indirectly through Moira Partners, a charitable remainder unitrust, and Valley High Limited Partnership, plus 228,577 shares held directly. Fairbairn has voting and investment power over these entities but disclaims beneficial ownership beyond her pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
1,205.283 shares exercised/converted
Mixed
5 txns
Insider
FAIRBAIRN EMILY
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series C Preferred Stock | 1,205.283 | $0.00 | -- |
| Conversion | Common Stock | 1,205,282 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series C Preferred Stock — 0 shares (Indirect, See footnote);
Common Stock — 1,214,513 shares (Indirect, See footnote);
Common Stock — 228,577 shares (Direct, null)
Footnotes (1)
- Based on automatic conversion of 1,205.2825 shares of Series C Non-Voting Convertible Preferred Stock, par value $0.0001 per share (the "Series C 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 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. Includes unvested shares of restricted stock. The securities are held by the Malcolm P. Fairbairn and Emily T. Fairbairn Charitable Remainder Unitrust ("Fairbairn Unitrust"). Emily Fairbairn has voting and investment power over the securities held by Fairbairn Unitrust. Ms. Fairbairn disclaims beneficial ownership of the securities held by Fairbairn Unitrust, except to the extent of her and her spouse's pecuniary interest therein. The securities are held by Valley High Limited Partnership ("Valley High"). Emily Fairbairn has voting and investment power over the shares held by Valley High. The Series C Preferred Stock automatically converted into shares of common stock on July 7, 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
Series C preferred converted: 1,205.2825 shares
Common shares from conversion: 1,205,282 shares
Indirect common shares after conversion: 1,214,513 shares
+3 more
6 metrics
Series C preferred converted
1,205.2825 shares
Automatic conversion on July 7, 2026
Common shares from conversion
1,205,282 shares
Underlying common stock at 1:1,000 ratio
Indirect common shares after conversion
1,214,513 shares
Indirect ownership position following transaction
Direct common shares held
228,577 shares
Direct ownership as of July 7, 2026
Indirect charitable trust holding
4,783 shares
Indirect common stock holding classified as I
Indirect partnership holding
45,129 shares
Indirect common stock holding via limited partnership
Key Terms
Series C Non-Voting Convertible Preferred Stock, conversion ratio, Charitable Remainder Unitrust, perpetual, +1 more
5 terms
Series C Non-Voting Convertible Preferred Stock financial
"Based on automatic conversion of 1,205.2825 shares of Series C Non-Voting Convertible Preferred Stock"
conversion ratio financial
"into shares of common stock at a conversion ratio of 1 to 1,000 shares"
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.
Charitable Remainder Unitrust financial
"The securities are held by the Malcolm P. Fairbairn and Emily T. Fairbairn Charitable Remainder Unitrust"
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.
disclaims beneficial ownership financial
"Ms. Fairbairn disclaims beneficial ownership of the securities held by Moira Partners"
FAQ
What insider transaction did Corvex (MOVE) report for Emily Fairbairn?
Corvex reported that director Emily Fairbairn oversaw an automatic conversion of Series C Non-Voting Convertible Preferred Stock into common shares on July 7, 2026. The conversion increased indirect common stock holdings through affiliated entities rather than reflecting an open-market purchase or sale.
How are Emily Fairbairn's Corvex (MOVE) holdings structured after the conversion?
Following the conversion, Corvex common shares are held both directly and indirectly. The filing shows 228,577 common shares held directly, alongside several indirect positions in entities such as Moira Partners, a charitable remainder unitrust, and Valley High Limited Partnership, each with separate share totals.
What does the Form 4 say about the Corvex Series C preferred stock terms?
The Form 4 describes Series C Non-Voting Convertible Preferred Stock with a 1-to-1,000 conversion ratio into common shares. The preferred stock is perpetual, meaning it has no expiration date, and the July 7, 2026 conversion was automatic under those terms according to the disclosed footnotes.