Anthony Wood's Roku Shares Convert To Cash And Fox Stock In Completed Merger
The Class A shares were worth an estimated $99.6 million at Tuesday's close, while his options received separate treatment.
Anthony Wood, founder, CEO and chairman of Roku, which runs a TV streaming platform, had his Roku shares converted into rights to cash and Fox stock when the companies completed their merger Friday. His SEC insider-trading report filed Tuesday recorded 620,379 Class A shares changing hands—worth an estimated $99.6 million at Tuesday's close—through the merger rather than open-market sales.
Cash And Fox Shares Replace Roku
For each Roku common share, holders received the right to $95.30 in cash plus 0.9799 Fox Class A shares, with cash replacing any fractional Fox shares. Fox and Roku had signed the agreement on June 14, 2026.
Wood also converted 16,150,111 Class B shares. The $99.6 million estimate applies to the Class A shares alone, not his Class B holdings or options.
Across the ownership lines reported, Wood held zero Roku Class A shares and zero convertible Class B shares after the conversions. His Class A holdings had included shares owned directly and shares held through trusts.
A Rising Stock, A Required Conversion
Roku shares rose 48% this year through Friday's close and about 53% over the past 12 months through Friday's close. Wood's dispositions came from the agreement's required exchange of Roku shares for merger consideration, rather than a decision to sell into that rise.
Roku's platform business earns money from digital advertising and streaming-service distribution, including subscription revenue shares and Premium Subscriptions. Its devices business includes streaming players and Roku-made TVs, while partner manufacturers make televisions powered by the Roku TV OS.
Roku also operates The Roku Channel, Howdy and Frndly TV. It reports more than 90 million Streaming Households globally, serving viewers alongside content partners and advertisers.
Options Followed Different Conversion Rules
Wood also reported dispositions of options covering 2,266,695 shares. The merger treated vested options with an exercise price below the merger value differently from options that had yet to vest.
Vested, unexercised options that qualified were cancelled in exchange for the merger consideration less their exercise price, paid in the same cash-and-Fox-stock proportions as the share conversion.
Unvested options became replacement cash and equity awards. The cash-award formula subtracts 60% of the old exercise price from the per-share cash amount; Fox can settle that award in cash, shares or both. Fox replacement exercise price: old exercise price × 40% ÷ exchange ratio.
Wood's reported Roku holdings ended at zero, but the merger replaced them with rights to cash, Fox shares and, for unvested options, replacement awards.
Sources
- Form 4 — Anthony Wood (ROKU) — SEC EDGAR
