FAIRBAIRN EMILY 4
4 · Corvex, Inc. · Filed Jul 2, 2026
Research Summary
AI-generated summary of this filing
Corvex (MOVE) Director Emily Fairbairn Receives RSU Award, Exchanges Preferred
What Happened
Emily Fairbairn, a director of Corvex, Inc. (MOVE), was granted 135,800 time‑based restricted stock units (RSUs) on July 1, 2026 (reported at $0). On the same date she also exchanged 858.5403 shares of Series C Preferred Stock for 858.5403 shares of Series D Preferred Stock on a one‑for‑one basis; the filing records a disposition of the Series C shares and an acquisition of the Series D shares (both reported at $0). No cash was reported in connection with these transactions.
Key Details
- Transaction date: July 1, 2026; Form 4 filed July 2, 2026 (timely).
- RSU grant: 135,800 shares, reported price $0; these are time‑based RSUs vesting in three equal annual installments from the grant date (F1).
- Preferred exchange: 858.5403 Series C preferred disposed and 858.5403 Series D preferred acquired, reported at $0 (F4).
- Conversion notes: Series C converts to common at 1:1000 on July 7, 2026 (F3). Series D converts at 1:1000 upon delivery of a conversion notice by the holder (F7). Preferred shares are perpetual (no expiration) (F5).
- Stock dividend: reported amounts reflect a March 30, 2026 stock dividend that converted each share into 1.358 shares (distributed ~April 6, 2026) (F2).
- Holdings: the securities are held by Moira Partners, LLC; Ms. Fairbairn is the managing member and disclaims beneficial ownership of Moira’s holdings except for her pecuniary interest (F6).
- Shares owned after the reported transactions are not specified in the provided filing.
Context
The RSU grant is a compensation award (not an open‑market purchase), typically a retention/compensation action rather than an immediate bullish purchase. The preferred‑share exchange is a reclassification between preferred series; both series have conversion mechanics that could convert into common shares at a 1:1000 ratio under the conditions noted in the footnotes. This Form 4 reports awards and a securities exchange with no cash consideration disclosed.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-07-01+135,800→ 228,577 total - Disposition to Issuer
Series C Preferred Stock
[F3][F4][F5][F6]2026-07-01−858.54→ 1,205.283 total(indirect: See footnote)Exercise: $0.00From: 2026-07-07→ Common Stock (858,540 underlying) - Award
Series D Preferred Stock
[F7][F4][F5][F6]2026-07-01+858.54→ 858.54 total(indirect: See footnote)Exercise: $0.00From: 2026-07-01→ Common Stock (858,540 underlying)
Footnotes (7)
- [F1]Represents a grant of time-based restricted stock units that vest in three equal annual installments from the grant date.
- [F2]As a result of the Company's stock dividend, each share of Common Stock issued and outstanding at the close of business on March 30, 2026 was automatically converted into 1.358 shares of Common Stock and was distributed on approximately April 6, 2026. The amounts reported on this Form 4 reflect the impacts of such stock dividend.
- [F3]The shares of Series C Preferred Stock will convert at a conversion ratio of 1 to 1000 shares of common stock on July 7, 2026.
- [F4]On July 1, 2026, the Reporting Person exchanged 858.5403 shares of Series C Preferred Stock for 858.5403 shares of Series D Preferred Stock on a one-for-one basis pursuant to an Exchange Agreement entered into with the Issuer.
- [F5]The preferred stock is perpetual and therefore has no expiration date.
- [F6]The securities are held by the Moira Partners, LLC. Emily Fairbairn is the Managing Member of Moira Partners and has voting and investment power over the securities held by Moira Partners. Ms. Fairbairn disclaims beneficial ownership of the securities held by Moira Partners, except to the extent of her pecuniary interest therein.
- [F7]The shares of Series D Preferred Stock will convert at a conversion ratio of 1 to 1000 shares of common stock upon the delivery of a conversion notice by the Reporting Person to the Issuer.