Form 4: CoreCard CFO's Holdings Convert in Euronet Merger

CoreCard Corp's CFO, Matthew A. White, reported the disposition of common stock, restricted stock units, and stock options following the company's merger with Euronet Worldwide, Inc.

Summary

• Matthew A. White, CFO of CoreCard Corp (CCRD), reported changes in his beneficial ownership of company securities.
• The changes occurred on October 30, 2025, as a direct result of the merger between CoreCard Corporation and Genesis Merger Sub Inc., a wholly-owned subsidiary of Euronet Worldwide, Inc. (Euronet).
• Following the merger, CoreCard Corp survived as a wholly-owned subsidiary of Euronet.
• Each outstanding share of CoreCard common stock was converted into the right to receive 0.3142 shares of Euronet's common stock, with cash paid in lieu of fractional shares.
• Mr. White disposed of 4,000 shares of CoreCard common stock.
• His 8,125 and 3,621 Restricted Stock Units (RSUs) became fully vested and were automatically converted into the Per Share Merger Consideration.
• His 30,000 stock options, with an exercise price of $19.99, became fully vested and exercisable, were terminated, and converted into a cash payment. This cash payment was calculated as the excess of (x) the product of the Exchange Ratio multiplied by the volume weighted average price per share of Euronet Common Stock over (y) the per share exercise price.

Sentiment

Score: 5

Explanation: The filing is a factual report of an insider's equity conversion due to a merger, not an operational or financial performance update. The sentiment is neutral as it simply documents a corporate event.

Positives

• The merger between CoreCard Corporation and Euronet Worldwide, Inc. was successfully completed.
• Reporting Person's Restricted Stock Units (RSUs) became fully vested upon the effective time of the merger.
• Reporting Person's stock options became fully vested and exercisable upon the effective time of the merger, converting into a cash payment.

Negatives

• CoreCard Corporation is no longer an independent publicly traded entity, having become a wholly-owned subsidiary of Euronet Worldwide, Inc.
• CoreCard common stock ceased to exist as a separate tradable security, with shares converting into Euronet common stock or cash.

Future Outlook

No forward-looking statements or guidance are provided, as this Form 4 reports a completed transaction.

Industry Context

This transaction reflects ongoing consolidation within the financial technology and payment processing industry, where larger players like Euronet acquire specialized companies like CoreCard to expand their service offerings and market reach. Such mergers are common strategies for growth and competitive advantage in a rapidly evolving sector.

Stakeholder Impact

• Shareholders: CoreCard shareholders received Euronet common stock and cash, converting their investment in CoreCard into an investment in Euronet.
• Employees: Employees holding CoreCard equity (like the CFO) had their Restricted Stock Units and stock options vested and converted as per the merger agreement.
• Company (CoreCard): CoreCard Corp transitioned from a publicly traded entity to a wholly-owned subsidiary of Euronet.

Next Steps

• Former CoreCard shareholders will manage their newly acquired Euronet shares or cash from fractional shares.
• Euronet will focus on the integration of CoreCard into its existing operations.

Key Dates

Keywords

CoreCard Corp, CCRD, Euronet Worldwide, Matthew A. White, CFO, Merger, Acquisition, Form 4, Insider Transaction, Beneficial Ownership, Restricted Stock Units, Stock Options, Equity Compensation, Financial Technology, Payment Processing