Corvex director converts Series B into common stock
Corvex, Inc. director Emily Fairbairn reported a conversion of preferred stock into common shares.
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Form Type
4
Rhea-AI Filing Summary
Corvex, Inc. director Emily Fairbairn reported a conversion of preferred stock into common shares. On March 31, 2026, 9.2319 shares of Series B Convertible Preferred Stock automatically converted into 9,231 shares of common stock at a 1-to-1,000 conversion ratio, with fractional shares paid in cash.
The new common shares are held indirectly through affiliated entities where Fairbairn has voting and investment power, and she disclaims beneficial ownership beyond her pecuniary interest. Following these transactions, she holds 68,369 common shares directly and additional indirect holdings of 22,232 and 3,522 common shares through separate entities.
Insider Trade Summary
9.2319 shares exercised/converted
Exercise
5 txns
Insider
FAIRBAIRN EMILY
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Series B Preferred Stock | 9.2319 | $0.00 | $0.00 |
| Conversion | Common Stock | 9,231 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series B Preferred Stock — 0 contracts (Direct);
Common Stock — 34,985 shares (Indirect, See footnote);
Common Stock — 68,369 shares (Direct)
Footnotes (6)
- F1. Based on automatic conversion of 9.2319 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).
- F2. 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.
- F3. 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.
- F4. 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.
- F5. 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.
- F6. The preferred stock is perpetual and therefore has no expiration date
Key Figures
Preferred shares converted: 9.2319 shares
Common shares received: 9,231 shares
Conversion ratio: 1:1,000
+3 more
6 metrics
Preferred shares converted
9.2319 shares
Series B Convertible Preferred Stock converted on March 31, 2026
Common shares received
9,231 shares
Underlying common stock from preferred conversion
Conversion ratio
1:1,000
Series B Preferred to common stock ratio
Direct common holdings
68,369 shares
Common stock held directly after transactions
Indirect common holdings (entity 1)
22,232 shares
Common stock held indirectly through an affiliated entity
Indirect common holdings (entity 2)
3,522 shares
Common stock held indirectly through another affiliated entity
Key Terms
Series B Convertible Preferred Stock, conversion ratio, Charitable Remainder Unitrust, perpetual, +1 more
5 terms
Series B Convertible Preferred Stock financial
"Based on automatic conversion of 9.2319 shares of Series B Convertible Preferred Stock"
Series B convertible preferred stock is a class of shares sold during a later-stage private financing that combines features of a loan and common stock: it usually pays priority dividends or has a priority claim if the company is sold, and it can be converted into common shares under predefined rules. Investors care because these shares affect ownership stakes and payout order—like having a reserved place in line and a ticket that can turn into regular ownership—so they influence potential returns and dilution for other shareholders.
conversion ratio financial
"into shares of common stock at a conversion ratio of 1 to 1,000"
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
"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.
beneficial ownership financial
"Ms. Fairbairn disclaims beneficial ownership of the securities held by Moira Partners"
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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Emily Fairbairn report at Corvex (MOVE)?
Emily Fairbairn reported a conversion of preferred stock into common shares. On March 31, 2026, 9.2319 shares of Series B Convertible Preferred Stock converted into 9,231 common shares at a 1-to-1,000 ratio, with fractional shares settled in cash.
Is Emily Fairbairn’s Corvex (MOVE) transaction a market buy or sale?
The activity is a derivative conversion, not an open-market buy or sale. Series B preferred stock automatically converted into common stock on March 31, 2026, at a fixed 1-to-1,000 ratio, with a reported price per share of $0.0000 for the conversion.
What are Emily Fairbairn’s direct and indirect Corvex (MOVE) holdings after the filing?
After the reported transactions, Fairbairn holds 68,369 common shares directly. She also has indirect holdings of 22,232 and 3,522 common shares through entities such as Moira Partners, a charitable remainder unitrust, and Valley High Limited Partnership, as described in the footnotes.
How do the entities in the Corvex (MOVE) Form 4 affect ownership reporting?
Indirect holdings are reported through Moira Partners LLC, a charitable remainder unitrust, and Valley High Limited Partnership. Fairbairn has voting and investment power over these securities but disclaims beneficial ownership except to the extent of her or her spouse’s pecuniary interest.
What are the key terms of Corvex (MOVE) Series B Convertible Preferred Stock?
The Series B Convertible Preferred Stock automatically converts into common stock on March 31, 2026, at a 1-to-1,000 conversion ratio. It is described as perpetual preferred stock with no expiration date, meaning it has no fixed maturity but converts on the specified date.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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