Seth Demsey Reports 20% Stake in Corvex, Inc. Following Acquisition Conversion

On July 8, 2026, Seth Demsey, the Co-Chief Executive Officer and Director of Corvex, Inc. (ticker: MOVE), filed a Schedule 13D reporting a 20.0% beneficial ownership stake in the company. The reporting person holds an aggregate of 5,540,329 shares of Common Stock. This position was acquired primarily as consideration for Corvex, Inc.'s acquisition of Corvex Legacy Holdings, Inc. (formerly Corvex OpCo), where Mr. Demsey also served as Co-CEO. The shares consist of 5,508,920 shares held directly and 31,409 shares held through Ainsworth Holdings, LLC, of which Mr. Demsey is the managing member. The acquisition of these securities occurred through the conversion of preferred stock received in March 2026, with the final conversion of over 5.5 million shares completed on July 7, 2026. The filing excludes approximately 5.9 million shares underlying restricted stock units and stock options that do not vest or become exercisable within the next 60 days. Mr. Demsey intends to participate in the management and strategic direction of the issuer in his executive and board capacities.