Corteva CEO Magro Is Credited With 834,808.987 Vylor Shares In Spin-Off, Form 4 Shows
The filing records spin-off mechanics, not an open-market purchase, and his Corteva options were converted into Vylor options.
Corteva CEO Charles V. Magro received 834,808.987 shares of Vylor common stock on Thursday, according to a Form 4 filed Monday. The shares came through the spin-off distribution, so this was not a purchase.
What the Form 4 says
The filing reports the shares under code J, held directly. Magro held 834,808.987 shares afterward on that line, valued at about $61.2 million at current prices.
A footnote explains the ratio: one Vylor share was paid for each Corteva share held.
His Corteva options were also converted. The filing shows four Vylor option grants, with strike prices from $45 to $57.22.
One filing footnote says 36,751 options in one converted grant are already vested and exercisable. The remainder vest on a later date.
What it changes
Magro now holds Vylor stock directly and Vylor options in place of the Corteva awards that were converted. None of it involved a market trade, so the filing says nothing about his view of the stock.
VYLR shares traded at $72.00 in Monday after-hours trading, down about 2% from the regular close of $73.33 (market data).
What to watch
Further Form 4 filings from Magro would show whether he sells any of the Vylor shares he received in the spin-off.
Any sale would have to appear in a new Form 4; this one records only the distribution and the option conversion.
Sources
- Form 4 — Charles V. Magro (VYLR) — SEC EDGAR
