Cullinan Brian 4

What Happened

• Brian Cullinan, a director of Corvex, exercised options (transaction code M) on June 30, 2026 to acquire 48,209 shares of common stock by paying $0.92 per share, totaling about $44,352. The same number of derivative shares (48,209) is also reported as converted/disposed with $0 proceeds on the same date (no open‑market sale proceeds recorded).
• This filing reflects an option exercise (an acquisition of shares). The record shows no cash sale of the exercised shares; the $0 disposal line likely represents an internal conversion/cancellation of derivative instruments rather than a public sale.

Key Details

• Transaction date: 2026-06-30
• Exercise: 48,209 shares acquired at $0.92/share = $44,352
• Concurrent derivative conversion/disposition: 48,209 shares @ $0.00 (no proceeds recorded)
• Shares owned after transaction: not specified in the provided excerpt of the Form 4
• Footnotes: F1 — reported amounts adjusted for a 1.358-for-1 stock dividend effective April 2026; F2 — the option award was conditional on a Plan Amendment and became exercisable Dec 16, 2025 (amounts/prices adjusted by the stock dividend)
• Filing timeliness: report covers 2026-06-30 transactions and was filed on 2026-06-30 (no late‑filing flag shown)

Context

• Transaction code M means an option exercise/conversion. Because no sale proceeds are reported, this does not appear to be an immediate open‑market sale (i.e., not a cashless exercise with public sale proceeds shown).
• Footnote F2 explains the option was granted subject to shareholder approval of an increase to the omnibus plan and only became exercisable after that approval; F1 explains share/price adjustments due to a stock dividend.
• For retail investors: exercises (acquisitions) can be a more informative insider action than routine sales, but absence of information about post‑exercise ownership or whether shares were net‑settled limits interpretation.