FAIRBAIRN EMILY 4

What Happened
Emily Fairbairn, a director of Corvex, acquired approximately 9,231 shares of Corvex common stock on March 31, 2026 through the automatic conversion of Series B Convertible Preferred Stock. The conversion was recorded at $0.00 per share (no cash paid). At the same time, ~9.232 shares of the Series B preferred (the derivative security) were disposed of as part of that conversion.

Key Details

• Transaction date: 2026-03-31. Report filed: 2026-04-01 (timely).
• Acquired: 9,231 common shares at $0.00 (automatic conversion).
• Disposed (derivative): 9.232 shares of Series B Convertible Preferred Stock (conversion of the preferred instrument).
• Shares owned after the transaction: not specified in the provided filing.
• Footnotes of note:
  • The Series B preferred converted automatically at a 1:1,000 ratio into common stock (F1, F5); fractional shares may be paid in cash.
  • The converted preferred are held by entities (Moira Partners, Fairbairn Unitrust, Valley High); Ms. Fairbairn has voting and investment power over those holdings and disclaims beneficial ownership except to the extent of her pecuniary interest (F2–F4).
  • The Series B preferred is perpetual (no expiration) (F6).
• Transaction code: conversion of a derivative (not an open-market purchase or sale).

Context
This was a corporate conversion event (preferred → common), not a market buy or sale. Conversions at $0.00 are routine corporate actions that exchange one security type for another under agreed terms (here, automatic conversion on the stated date). Because the filing reports conversion of preferred held by affiliated entities rather than a straight cash purchase or sale, it should be interpreted as a structural ownership change rather than a directional trade signal by the director.