Form 4: MoneyLion CFO Richard Correia Reports Conversion of Shares and Options Following Merger with Gen Digital Inc.
SEC Form 4
Richard Correia, CFO of MoneyLion Inc., reports the conversion and cancellation of Class A Common Stock, restricted stock units, performance stock units, and stock options following the merger with Gen Digital Inc.
Summary
- This Form 4 filing reports changes in beneficial ownership of MoneyLion Inc. securities by Richard Correia, the President, CFO, and Treasurer.
- The changes are a result of the merger between MoneyLion Inc. and Gen Digital Inc., which became effective on April 17, 2025.
- Correia's Class A Common Stock was cancelled and converted into the right to receive $82 in cash and one contingent value right (CVR) per share.
- Restricted stock units (RSUs) and performance stock units (PSUs) were assumed by Parent and converted into restricted stock unit awards with respect to a number of shares of Parent common stock equal to the product of the number of shares of Class A Common Stock subject to such Unvested Company RSU as of immediately prior to the Effective Time by a ratio equal to 3.48.
- Stock options with an exercise price less than the closing price of Class A Common Stock were cancelled and converted into the right to receive cash equal to the excess of $82 over the exercise price, plus one CVR.
Sentiment
Score: 6
Explanation: The document is a standard regulatory filing related to a merger. The sentiment is neutral as it simply reports the changes in ownership.
Future Outlook
The document does not contain specific forward-looking statements beyond the completion of the merger.
Industry Context
This filing reflects the completion of a merger transaction, a common occurrence in the financial technology sector as companies seek to consolidate and expand their market presence.
Stakeholder Impact
- Shareholders of MoneyLion Inc. received cash and contingent value rights as part of the merger consideration.
- Employees holding unvested RSUs and PSUs will have their awards converted into awards of Parent common stock.
Key Dates
| Date | Description |
|---|---|
| 2024-12-10 | Date of the Agreement and Plan of Merger between Gen Digital Inc., Maverick Group Holdings, Inc., and MoneyLion Inc. |
| 2025-04-17 | Date of Earliest Transaction (Merger Effective Time) and Contingent Value Rights Agreement. |
| 2025-04-21 | Date of Form 4 filing. |
| 2030-04-30 | Expiration date of some stock options. |
| 2031-01-31 | Expiration date of some stock options. |
Keywords
Form 4, MoneyLion Inc., Gen Digital Inc., Merger, Richard Correia, Beneficial Ownership, Securities, Class A Common Stock, Restricted Stock Units, Performance Stock Units, Stock Options, Contingent Value Right
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