Form 4: MoneyLion Chief Accounting Officer Mark Torossian Disposes of Shares in Merger with Gen Digital

Mark Torossian, Chief Accounting Officer of MoneyLion Inc., reports the disposal of Class A Common Stock and conversion of stock units following the merger with Gen Digital Inc.

Summary

• This Form 4 filing reports changes in beneficial ownership for Mark Torossian, Chief Accounting Officer of MoneyLion Inc., following the merger with Gen Digital Inc.
• The merger, effective April 17, 2025, involved the cancellation of MoneyLion's Class A Common Stock, with each share converted into \$82 in cash and one contingent value right (CVR) issued by Parent.
• Torossian disposed of 4,174 shares of Class A Common Stock.
• Restricted stock units (RSUs) and performance stock units (PSUs) held by Torossian were either assumed by Parent and converted into Converted RSUs or cancelled and converted into the right to receive the Merger Consideration.
• The conversion ratio for RSUs and PSUs was 3.48 shares of Parent common stock for each share of MoneyLion Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral as it primarily reports factual information about the merger and the resulting changes in stock ownership. There are no explicit positive or negative statements about the company's future prospects.

Future Outlook

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

Industry Context

This announcement reflects the ongoing consolidation within the fintech industry, where companies are merging to achieve greater scale and efficiency. Gen Digital's acquisition of MoneyLion is likely aimed at expanding its market presence and leveraging MoneyLion's technology platform.

Comparison to Industry Standards

• Merger and acquisition (M&A) transactions are common in the financial technology (fintech) sector, as companies seek to expand their product offerings, customer base, and geographic reach.
• Comparable transactions include SoFi's acquisition of Galileo and LendingClub's acquisition of Radius Bank, which demonstrate the trend of fintech companies integrating vertically and horizontally to enhance their competitive positioning.
• The conversion ratio of 3.48 shares of Parent common stock for each share of MoneyLion Class A Common Stock is a key metric for evaluating the fairness of the deal for MoneyLion shareholders, and it should be compared to similar transactions in the industry to assess its relative value.

Stakeholder Impact

• Shareholders of MoneyLion received \$82 in cash and one contingent value right (CVR) for each share of Class A Common Stock.
• Employees with unvested RSUs and PSUs had their awards converted into awards of the Parent company, Gen Digital.
• The merger may impact the future direction and strategy of MoneyLion, potentially affecting customers and partners.

Key Dates

Keywords

Form 4, MoneyLion, Gen Digital, Merger, Beneficial Ownership, Torossian, Class A Common Stock, Contingent Value Right, RSU, PSU