Enova International, Inc. 8-K/A

What Happened

• Enova International (ENVA) filed Amendment No. 1 to a prior Form 8‑K (originally filed July 24, 2025) to disclose compensation details for a management transition effective January 1, 2026. David Fisher moves from CEO to Executive Chairman; Steve Cunningham succeeds Fisher as CEO; Scott Cornelis succeeds Cunningham as CFO. The Compensation Committee approved the new packages on December 30, 2025.

Key Details

• Steve Cunningham (CEO, effective Jan 1, 2026): base salary $850,000; 2026 target cash bonus 135% of base ($1,147,500); 2026 equity award = 600% of base ($5,100,000) split equally into Restricted Stock Units (RSUs) and Stock Options. RSUs vest ~25% per year over 4 years; options granted quarterly vest ~33% per year over 3 years.
• Scott Cornelis (CFO, effective Jan 1, 2026): base salary $520,000; 2026 target cash bonus 85% of base ($442,000); 2026 equity award = 200% of base ($1,040,000) split equally into RSUs and Stock Options with the same vesting schedules as above.
• David Fisher (Executive Chairman, effective Jan 1, 2026): base salary $825,000; 2026 target cash bonus 130% of base ($1,072,000); 2026 equity award = 520% of base ($4,290,000) split equally into RSUs and Stock Options with the same vesting schedules as above.

Why It Matters

• The filing confirms a planned leadership succession and provides investors concrete details on the new executive pay arrangements. The packages combine higher base and target bonus levels with sizable equity grants designed to align executives’ interests with shareholders and to vest over multiple years.
• These awards will be issued under the company’s long‑term incentive plan and will affect Enova’s future equity‑based compensation expense and potential share dilution over the vesting periods.