Demsey Seth 4

What Happened
Seth Demsey, a director of Corvex, Inc. (MOVE), acquired common stock through the automatic conversion of Series B Convertible Preferred Stock on March 31, 2026. The Form 4 reports acquisitions of 24,532 shares and 139 shares (reported total: 24,671 common shares) at $0.00 per share (conversion, not a purchase). Corresponding derivative securities (the preferred shares) were reported disposed in the conversion.

Key Details

• Transaction date: 2026-03-31; Form filed: 2026-04-01 (appears timely).
• Transaction type/code: Conversion of derivative security (C). Price: $0.00; reported cash value $0.
• Reported acquired common shares: 24,532 and 139 (combined reported total 24,671 common shares).
• Reported disposed derivative amounts: 24.533 and 0.14 (preferred-share amounts reported as disposed).
• Notable footnotes:
  • F1/F4: Series B preferred automatically converts on 3/31/2026 at a 1:1,000 ratio (fractions adjusted/paid in cash).
  • F3: The 0.1399 preferred share was held by Ainsworth Holdings, LLC; Demsey is the managing member and disclaims beneficial ownership except for pecuniary interest.
  • F2: Share counts include unvested restricted stock units (as noted).
• Shares owned after the transaction are not provided in the excerpt supplied.

Context
This was an automatic conversion of preferred stock into common stock (a structural/capitalization event), not an open‑market buy or sale. No cash was paid for the converted common shares; fractional-share adjustments were handled in cash per the footnotes. Such conversion filings reflect corporate capital changes rather than a personal trading decision and should be interpreted accordingly.