Form 4: Innovid CFO Anthony Callini Reports Cancellation of Shares and Stock Options Following Merger
SEC Form 4 Filing
Anthony Callini, CFO of Innovid Corp., reports the cancellation of common stock and stock options following the merger with Mediaocean LLC, with shareholders receiving $3.15 per share.
Summary
- Anthony Callini, the CFO of Innovid Corp., filed a Form 4 detailing changes in his beneficial ownership following the merger with Mediaocean LLC.
- As a result of the merger agreement dated November 21, 2024, Callini's 227,179 shares of common stock were canceled and converted into the right to receive $3.15 per share.
- Additionally, 487,501 unvested restricted stock units (RSUs) were affected, with 125,001 converted into the right to receive $3.15 per share and 362,500 exchanged for unvested restricted stock units of OceanKey TopCo LLP.
- Callini's stock options with an exercise price less than $3.15 were vested, canceled, and converted into the right to receive a cash payment equal to the difference between $3.15 and the exercise price, multiplied by the number of shares subject to the option.
- Stock options with an exercise price equal to or greater than $3.15 were canceled for zero consideration.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it primarily reports the execution of a previously announced merger agreement. The financial outcome for shareholders is defined, but the document itself is simply a procedural filing.
Future Outlook
The document does not contain specific forward-looking statements beyond the completion of the merger transaction.
Industry Context
This announcement reflects a trend of consolidation in the media and advertising technology space, where companies are merging to gain scale and offer more comprehensive solutions.
Stakeholder Impact
- Shareholders received $3.15 per share.
- Employees with unvested RSUs may receive OceanKey TopCo LLP units.
Key Dates
| Date | Description |
|---|---|
| 2024/11/21 | Date of the Merger Agreement among Mediaocean LLC, Ignite Merger Sub, Inc. and Innovid Corp. |
| 2025/02/13 | Date of the earliest transaction reported and date of the Form 4 filing. |
| 2033/10/10 | Expiration date of the Stock Option (Right to Buy). |
Keywords
Form 4, Innovid Corp, Anthony Callini, Merger, Mediaocean LLC, Stock Options, Restricted Stock Units, Beneficial Ownership, CFO
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