Fisher David 4
4 · Enova International, Inc. · Filed Feb 13, 2026
Research Summary
AI-generated summary of this filing
Enova (ENVA) Executive Chairman David Fisher Receives Award
What Happened David Fisher, Executive Chairman and a director of Enova International, was granted two awards on February 11, 2026: 13,515 restricted stock units (RSUs) and 8,684 derivative awards recorded as acquired at $0. The RSUs are service-based and will vest in four substantially equal annual installments (Feb 11, 2027–Feb 11, 2030). The 8,684-unit derivative grant consists of a limited stock appreciation right (SAR) and a tandem employee stock option (the exercise of one cancels the other); the option portion vests in three substantially equal annual installments (Feb 11, 2027–Feb 11, 2029).
Key Details
- Transaction date: February 11, 2026; Filing date: February 13, 2026 (appears timely under Section 16 rules).
- Grant amounts and price: 13,515 RSUs @ $0; 8,684 derivative units (SAR/option) @ $0.
- Shares owned after transaction: Not specified in the provided excerpt of the filing.
- Vesting/terms: RSUs vest in roughly equal 1/4 installments through 2027–2030 (F1). Options vest in roughly equal 1/3 installments through 2027–2029 (F4). SAR and option granted in tandem; exercising one cancels the other (F2).
- SAR exercise/payment: SARs only exercisable after a "Change in Control" and payable only if an "Offer" (as defined) is made; payout equals (Offer Value Per Share − option exercise price) × number of shares, with Offer Value Per Share based on a 30-day average (F2–F3).
Context
- These are grants (compensation/retention awards), not open-market buys or sales; grant price of $0 is typical for RSUs and option/SAR awards and does not represent immediate cash value.
- The SAR has special payout conditions tied to a change-in-control/offer event, so it generally has value only in certain transaction scenarios.
- Such awards are common executive compensation and do not, by themselves, indicate the insider is buying or selling shares in the open market.
Insider Transaction Report
Form 4
Fisher David
DirectorExecutive Chairman
Transactions
- Award
Common stock, par value $0.00001 per share
[F1]2026-02-11+13,515→ 333,587 total - Award
Non-Qualified Stock Option (right to buy) with limited SAR
[F2][F3][F4]2026-02-11+8,684→ 8,684 totalExercise: $157.79Exp: 2033-02-11→ Common stock; par value $0.00001 per share (8,684 underlying)
Footnotes (4)
- [F1]This transaction reflects a grant of restricted stock units that shall vest in substantially equal one-fourth increments on each of the following dates as long as grantee serves as an employee of the Issuer or an affiliate thereof through the applicable vesting date: February 11, 2027, February 11, 2028, February 11, 2029 and February 11, 2030.
- [F2]The limited stock appreciation right ("SAR") and employee stock option were granted in tandem. Accordingly, the exercise of one results in the expiration of the other. The SAR may be exercised only during the period beginning on the first day following the date that a "Change in Control" of Issuer occurs (as defined in the related grant agreement) and ending on the thirtieth day following such date. Upon exercise, the grantee shall be able to receive an amount equal to the product computed by multiplying (i) the excess of the "Offer Value Per Share" over the exercise price of the underlying option by (ii) the number of shares with respect to which the SAR is being exercised; provided, that such amount shall only be payable in the event an "Offer" is made.
- [F3]The "Offer Value Per Share" means the average selling price of Issuer's common stock during the period of 30 days ending on the date on which the SAR is exercised. "Offer" means any tender offer or exchange offer for outstanding shares of Issuer representing at least 30% of the total voting power of the stock of Issuer, or an offer to purchase assets from Issuer that have a total gross fair market value equal to or more than 40% of the total gross fair market value of all of the assets of Issuer, other than an offer made by Issuer.
- [F4]The options shall vest in substantially equal one-third increments on each of the following dates as long as grantee serves as an employee of Issuer or an affiliate thereof through the applicable vesting date: February 11, 2027, February 11, 2028 and February 11, 2029.
Signature
/s/ Sean Rahilly, as attorney in fact|2026-02-13