Crystal John Adler III 4
4 · Corvex, Inc. · Filed Apr 1, 2026
Research Summary
AI-generated summary of this filing
Corvex (MOVE) CEO John Adler Acquires Shares via Preferred Conversion
What Happened
John Adler, CEO of Corvex, had Series B convertible preferred shares automatically convert into common stock on March 31, 2026. The filing shows conversions that resulted in the acquisition of about 14,965 and 3,167 common shares (total ~18,133 shares) at $0.00 per share (no cash paid). Corresponding preferred holdings were recorded as disposed (the derivatives converted). The conversion was automatic under the preferred stock terms rather than a market purchase or sale.
Key Details
- Transaction date: March 31, 2026; Form 4 filed April 1, 2026 (timely filing).
- Price: $0.00 per share (conversion of preferred into common).
- Shares received: ~18,133 common shares (14,965.2 + 3,167.7 underlying common shares per footnotes; fractional-share adjustments paid in cash).
- Dispositions: The related Series B preferred shares were converted (treated as dispositions of the derivative securities).
- Ownership notes: One converted block was held in the Reporting Person’s Roth IRA; the filer disclaims beneficial ownership of those IRA-held securities except for pecuniary interest. The filing also notes inclusion of unvested restricted stock units in reported ownership.
- Other: Series B preferred converts automatically on 3/31/2026 at a 1:1,000 ratio and is perpetual (no expiration).
Context
- This was an automatic conversion of preferred stock into common stock, not a market buy or sale; it does not represent a cash investment or a sale signal.
- Automatic conversions change capital structure and outstanding common shares but do not by themselves indicate insider sentiment.
Insider Transaction Report
Form 4
Corvex, Inc.MOVE
Crystal John Adler III
Chief Executive Officer
Transactions
- Conversion
Common Stock
[F1][F2]2026-03-31+14,965→ 3,069,200 total - Conversion
Common Stock
[F3]2026-03-31+3,167→ 3,167 total(indirect: See footnote (3)) - Conversion
Series B Preferred Stock
[F4][F1][F5]2026-03-31−14.965→ 0 totalExercise: $0.00From: 2026-03-31→ Common Stock (14,965 underlying) - Conversion
Series B Preferred Stock
[F4][F3][F5]2026-03-31−3.168→ 0 total(indirect: See footnote (3))Exercise: $0.00From: 2026-03-31→ Common Stock (3,167 underlying)
Footnotes (5)
- [F1]Based on automatic conversion of 14.9652 shares of Series B Convertible Preferred Stock, par value $0.0001 per share (the "Series B Preferred Stock") into shares of common stock at a conversion ratio of 1 to 1,000 shares of common stock (as adjusted for fractional shares paid in cash).
- [F2]Includes unvested restricted stock units.
- [F3]Based on automatic conversion of 3.1677 shares of Series B Preferred Stock into shares of common stock at a conversion ratio of 1 to 1,000 shares of common stock (as adjusted for fractional shares paid in cash). The securities are held by John Adler Crystal III Roth IRA ("Roth IRA") for the benefit of the Reporting Person. The Reporting Person has sole voting and dispositive power over the common stock held by the Roth IRA. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.
- [F4]The Series B Preferred Stock automatically converts into shares of common stock on March 31, 2026 at a conversion ratio of 1 to 1000 shares of common stock.
- [F5]The preferred stock is perpetual and therefore has no expiration date
Signature
/s/ John Crystal III|2026-04-01