General Fusion Group (GFUZ) director discloses extensive stock and earnout options
Rhea-AI Filing Summary
Harrison Norman, a director of General Fusion Group Ltd., filed an initial statement of beneficial ownership showing multiple stock option and earnout option holdings. Positions include options on 55,804 common shares at $0.5300 and 29,074 shares at $8.9500, plus earnout options on 21,243 earnout shares at $0.0100. Earnout Shares convert into common shares only if the volume weighted average price reaches $15.00, $20.00 and $25.00, respectively, on or before July 10, 2031.
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Insider Trade Summary
8 transactions reported
Mixed
8 txns
Insider
Harrison Norman
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Stock Option (right to buy) F1 | -- | -- | -- |
| holding | Stock Option (right to buy) F2 | -- | -- | -- |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Stock Option (right to buy) F3 | -- | -- | -- |
| holding | Earnout Options (right to buy) F1, F4 | -- | -- | -- |
| holding | Earnout Options (right to buy) F2, F4 | -- | -- | -- |
| holding | Earnout Options (right to buy) F3, F4 | -- | -- | -- |
Holdings After Transaction:
Stock Option (right to buy) — 107,112 shares (Direct);
Earnout Options (right to buy) — 22,311 shares (Direct)
Footnotes (4)
- F1. These options vest in three substantially equal installments on the first, second and third anniversaries of the original date of grant by General Fusion Inc. (the "Legacy Company"), or in the case of Earnout Options, the first, second and third anniversaries of the original date of grant of the associated option award. All underlying shares that vested prior to the closing of the Legacy Company's business combination with Spring Valley Acquisition Corp. III (the "Business Combination") remained vested following their exchange for options of General Fusion Group Ltd. (the "Company"), and the Earnout Options associated with each option award retained the vesting history of the associated option award.
- F2. These options vested as to 25% of the underlying shares on the first anniversary of the original date of grant by the Legacy Company, or in the case of Earnout Options, the first anniversary of the original date of grant of the associated option award, with the remaining shares vesting in 12 substantially equal quarterly installments thereafter. All underlying shares that vested prior to the closing of the Business Combination remained vested following their exchange for options of the Company, and the Earnout Options associated with each option award retained the vesting history of the associated option award.
- F3. These options vest as to 25% of the underlying shares on the first anniversary of the original date of grant by the Legacy Company, or in the case of Earnout Options, the first anniversary of the original date of grant of the associated option award, with the remaining shares vesting in 12 substantially equal quarterly installments thereafter.
- F4. Earnout Shares, including the Earnout Shares underlying the Earnout Options, consist of a substantially equal number of Class A Earnout Shares, Class B Earnout Shares, and Class C Earnout Shares, which will automatically convert into common shares of the Company if, on or before July 10, 2031, the volume weighted average price of the Company's common shares equals or exceeds each of $15.00, $20.00 and $25.00, respectively, for any 20 trading days within any period of 30 consecutive trading days.
Key Figures
Common shares under options: 55804.0000
Exercise price: 0.5300
Common shares under options: 29074.0000
+5 more
8 metrics
Common shares under options
55804.0000
Underlying common shares for stock options with $0.5300 exercise price expiring 2035-08-06
Exercise price
0.5300
Exercise price per share for certain stock options on common shares
Common shares under options
29074.0000
Underlying common shares for stock options with $8.9500 exercise price expiring 2036-05-27
Exercise price
8.9500
Exercise price per share for another stock option grant on common shares
Earnout Shares under options
21243.0000
Underlying Earnout Shares for Earnout Options with $0.0100 exercise price expiring 2031-07-10
Earnout exercise price
0.0100
Exercise price per Earnout Share for the reported Earnout Options
Earnout trigger price A
15.00
VWAP hurdle for Class A Earnout Shares to convert to common shares
Earnout trigger prices B and C
20.00 / 25.00
VWAP hurdles for Class B and Class C Earnout Shares conversion conditions
Key Terms
Earnout Options, Earnout Shares, volume weighted average price, Business Combination, +1 more
5 terms
Earnout Options financial
"Earnout Options associated with each option award retained the vesting history"
volume weighted average price financial
"if the volume weighted average price of the Company's common shares equals or exceeds"
The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.
Business Combination financial
"prior to the closing of the Legacy Company's business combination with Spring Valley"
A business combination happens when two or more companies join together to operate as one, like two friends merging their teams into a single group. This is important because it can change how companies grow, compete, and make money, often making them bigger and more powerful in the market.
substantially equal quarterly installments financial
"with the remaining shares vesting in 12 substantially equal quarterly installments thereafter"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What does the Form 3 filing for GFUZ report about Harrison Norman?
The Form 3 reports that Harrison Norman, a director of General Fusion Group Ltd. (GFUZ), holds several stock options and earnout options. These cover common shares and Earnout Shares with varying exercise prices, vesting schedules and expirations extending out to 2036.
What are the terms of the higher-priced stock options reported for GFUZ?
Norman also reports stock options on 29,074 common shares of GFUZ at an exercise price of $8.9500 per share. These options are scheduled to expire on May 27, 2036, and vest over time according to the quarterly vesting schedule described in the footnotes.
How did the GFUZ business combination affect Harrison Norman’s option grants?
Footnotes explain that options originally granted by General Fusion Inc. were exchanged for options of General Fusion Group Ltd. in connection with its business combination with Spring Valley Acquisition Corp. III. Previously vested options and related Earnout Options retained their vesting history after this exchange.