Cunningham Steven E 4

What Happened

• Steven E. Cunningham, CEO of Enova International (ENVA), exercised stock options to acquire 11,436 shares at an exercise price of $20.73 per share (total cost $237,068) on 2026-01-30, and the same day sold those 11,436 shares in the open market at a weighted-average price of $165.13 per share for total gross proceeds of $1,888,435. The transactions are reported as option exercise (code M) and open-market sale (code S).
• A related derivative entry shows a tandem award was cancelled/converted with no cash consideration (reported as a derivative disposition at $0). Net effect: Cunningham acquired and sold the same number of shares, so there is no net increase in his share count from these trades.

Key Details

• Transaction date: 2026-01-30; Filing date: 2026-02-03 (filed within the 2-business-day requirement).
• Exercise cost: 11,436 shares × $20.73 = $237,068.
• Sale proceeds: 11,436 shares × $165.13 (weighted avg; trade prices ranged $165.00–$165.41) = $1,888,435.
• Approximate gross gain before taxes/fees: $1,888,435 − $237,068 = $1,651,367.
• Shares owned after transaction: not specified in the provided data; these trades produced no net change in holdings (acquired and sold same 11,436 shares).
• Footnotes: sale executed in multiple trades (weighted average reported); the SAR and option were granted in tandem—exercise of one causes expiration of the other and certain SAR payouts depend on a defined “Offer Value Per Share” and may only be payable in connection with a qualifying offer.

Context

• This is a same-day exercise-and-sell (cashless-style) transaction: the insider exercised options and immediately sold the resulting shares, a common way for executives to realize value from vested equity. The filing is factual and timely; such sales are often routine liquidity events and do not by themselves indicate the insider’s long-term view.