Form 4: Innovid Corp. CEO Zvika Netter Reports Cancellation of Shares and Options Following Merger with Mediaocean LLC

Zvika Netter, CEO of Innovid Corp., reports the cancellation of common stock and stock options following the merger with Mediaocean LLC, resulting in cash payments and exchange for units in OceanKey TopCo LLP.

Summary

• Innovid Corp. CEO Zvika Netter filed a Form 4 detailing changes in beneficial ownership following the merger with Mediaocean LLC.
• As of February 13, 2025, Netter's shares of Innovid Corp. common stock were canceled as part of the merger agreement.
• 3,844,483 shares were canceled and converted into the right to receive $3.15 per share in cash.
• Unvested restricted stock units (RSUs) were also canceled, with 458,750 converted to cash at $3.15 per share and 657,500 exchanged for unvested restricted stock units of OceanKey TopCo LLP.
• Shares held by family trusts were also canceled, with a portion converted to cash and another portion exchanged for OceanKey TopCo LLP units.
• Outstanding 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: 5

Explanation: The document is a factual report of transactions related to a merger. It is neutral in tone and does not express positive or negative sentiment.

Future Outlook

The document does not contain specific forward-looking statements beyond the completion of the merger.

Industry Context

This announcement reflects a merger transaction within the advertising technology sector, where consolidation is common as companies seek to expand their capabilities and market reach.

Stakeholder Impact

• Shareholders received $3.15 per share in cash for their common stock.
• Employees holding unvested RSUs may have received cash or replacement units in OceanKey TopCo LLP.
• Option holders with options below $3.15 received a cash payment.

Key Dates

Keywords

Merger, Innovid Corp, Mediaocean LLC, Zvika Netter, Form 4, Beneficial Ownership, Stock Options, Restricted Stock Units, OceanKey TopCo LLP, Cancellation, Cash Payment