Rahilly Sean 4
4 · Enova International, Inc. · Filed May 15, 2026
Research Summary
AI-generated summary of this filing
Enova (ENVA) General Counsel Sean Rahilly Receives SAR/Option Award
What Happened
Sean Rahilly, General Counsel and Secretary of Enova International (ENVA), received an award on 2026-05-13 covering 2,108 shares in the form of a limited stock appreciation right (SAR) paired with an employee stock option. The reported grant price is $0.00 and the transaction is classified as a derivative award (no immediate cash or sale). The SAR/option package was disclosed in a Form 4 filed on 2026-05-15.
Key Details
- Transaction date: 2026-05-13; Form 4 filed: 2026-05-15 (appears timely).
- Award: 2,108 shares (derivative grant); reported price $0.00 (no immediate cash value).
- Shares owned after transaction: not specified in this filing.
- Footnote: the SAR and option were granted in tandem — exercising one cancels the other.
- SAR exercise conditions: exercisable only after a "Change in Control" and only within 30 days after that event; payout equals (Offer Value Per Share − exercise price) × number of shares and is payable only if an "Offer" (as defined) is made.
- Option vesting: options vest in roughly equal one‑third tranches on May 13 of 2027, 2028 and 2029, contingent on continued service.
Context
This was an award of a derivative instrument, not a purchase or sale of stock. SARs do not convey immediate ownership or cash unless specified trigger events occur (here, a qualifying change‑in‑control and offer). Such grants are typically part of executive compensation and do not by themselves indicate insider buying or selling of shares.
Insider Transaction Report
- Award
Non-Qualified Stock Option (right to buy) with limited SAR
[F1][F2][F3]2026-05-13+2,108→ 2,108 totalExercise: $166.88Exp: 2033-05-13→ Common stock; par value $0.00001 per share (2,108 underlying)
Footnotes (3)
- [F1]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.
- [F2]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.
- [F3]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: May 13, 2027, May 13, 2028 and May 13, 2029.