Form 4: MoneyLion Inc. Executive Timmie Hong Reports Changes in Beneficial Ownership Following Merger with Gen Digital Inc.
SEC Form 4
Timmie Hong, Chief Product Officer of MoneyLion Inc., reports the cancellation and conversion of Class A Common Stock and stock options following the merger with Gen Digital Inc., receiving cash and contingent value rights.
Summary
- Timmie Hong, Chief Product Officer of MoneyLion Inc., filed a Form 4 detailing changes in beneficial ownership.
- The changes are a result of the merger between MoneyLion Inc. and Gen Digital Inc., which became effective on April 17, 2025.
- Hong'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 either assumed by Parent (Gen Digital Inc.) and converted into new RSUs or cancelled and converted into the right to receive the merger consideration.
- 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 and one CVR.
Sentiment
Score: 7
Explanation: The document is a standard regulatory filing detailing the effects of a previously announced merger. The sentiment is neutral to slightly positive as the merger has been completed.
Future Outlook
The document does not contain specific forward-looking statements beyond the completion of the merger.
Industry Context
This filing reflects the standard process of reporting changes in beneficial ownership following a merger or acquisition, ensuring transparency for investors.
Stakeholder Impact
- Shareholders received cash and contingent value rights as part of the merger consideration.
- Employees with unvested RSUs and PSUs had their awards converted or cancelled based on the merger agreement.
Key Dates
| Date | Description |
|---|---|
| December 10, 2024 | Date of the Agreement and Plan of Merger between Gen Digital Inc. and MoneyLion Inc. |
| April 17, 2025 | Effective date of the merger and the date of the reported transactions. |
| April 17, 2025 | Date of the Contingent Value Rights Agreement. |
| April 21, 2025 | Date of signature for the Form 4 filing. |
| November 15, 2027 | Expiration date of some stock options. |
| November 01, 2028 | Expiration date of some stock options. |
| September 21, 2029 | Expiration date of some stock options. |
| April 30, 2030 | Expiration date of some stock options. |
| January 31, 2031 | Expiration date of some stock options. |
Keywords
Form 4, Beneficial Ownership, MoneyLion Inc., Gen Digital Inc., Merger, Timmie Hong, Class A Common Stock, Contingent Value Right, Stock Options, Restricted Stock Units, Performance Stock Units
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