Mustafa Ozgen, President of Devices, Products, and Technology at Roku, Inc., filed a Form 4 on November 10, 2026, reporting the disposition of all directly held Class A Common Stock, stock options, and restricted stock units on November 6, 2026, as a result of the completed merger between Roku and Fox Corporation.

Key Highlights

  • Merger completed: Roku, Inc. and Fox Corporation completed the transactions under their Agreement and Plan of Merger on November 6, 2026.
  • Merger consideration: Each share of Roku Class A Common Stock was converted into the right to receive 0.9799 shares of FOX Class A Common Stock plus $95.30 in cash, without interest.
  • Common stock disposed: Mustafa Ozgen disposed of 25,569 shares of Class A Common Stock, leaving a remaining direct balance of 0 shares.
  • Vested options cancelled: Two fully vested employee stock options covering 57,589 shares (exercise price $145.71) and 28,965 shares (exercise price $356.58) were cancelled and converted into Vested Company Option Consideration or cancelled for no consideration, respectively.
  • RSUs cancelled and converted: Three unvested restricted stock unit awards covering 27,159, 35,604, and 32,765 shares were cancelled and converted into Converted RSU Cash Awards and Converted RSU Equity Awards under the merger terms.
  • Post-transaction beneficial ownership: Following all reported transactions, Ozgen's direct beneficial ownership of Roku Class A Common Stock and all derivative securities stood at 0.

Ozgen's Roku Securities Cancelled and Converted Upon Fox Merger Closing

According to the filing, Roku, Inc. (NASDAQ:ROKU) and Fox Corporation completed their merger on November 6, 2026, pursuant to an Agreement and Plan of Merger dated June 14, 2026, among Roku, Fox, Falcon Merger Sub 1, Inc., and Falcon Merger Sub 2, LLC. Under the merger terms, each share of Roku Class A Common Stock held by Mustafa Ozgen, Roku's President of Devices, Products, and Technology, was converted into the right to receive 0.9799 shares of FOX Class A Common Stock (together with cash in lieu of fractional shares) and $95.30 in cash, without interest. The filing reports that Ozgen disposed of 25,569 shares on November 6, 2026, leaving him with zero direct beneficial ownership of Roku common stock.

With respect to derivative securities, the filing states that Ozgen held two fully vested employee stock options prior to the merger. The option covering 57,589 shares at an exercise price of $145.71, expiring August 16, 2030, was classified as an In-the-Money Company Option and was cancelled and converted into the right to receive Vested Company Option Consideration, calculated as the Merger Consideration reduced by the applicable per share exercise price. The value of the Merger Consideration for this calculation was based on the closing trading price of FOX Class A Common Stock on November 5, 2026, according to the filing. The second option, covering 28,965 shares at an exercise price of $356.58, expiring August 15, 2031, was treated as an Out-of-the-Money Company Option and was cancelled for no consideration.

The filing further discloses that three unvested restricted stock unit awards - covering 27,159, 35,604, and 32,765 shares, respectively - were cancelled immediately prior to the Effective Time and converted into Converted RSU Cash Awards and Converted RSU Equity Awards. Each Converted RSU Cash Award provides the right to receive a payment equal to the Per Share Cash Amount for each underlying share, with payment potentially made in cash, FOX Class A Common Stock, or a combination, as determined by FOX in its sole discretion. Each Converted RSU Equity Award consists of restricted stock units for FOX Class A Common Stock calculated using the Exchange Ratio. Following all reported transactions, Ozgen's direct beneficial ownership of all Roku securities was reported as zero.

What Was Disclosed

Mustafa Ozgen, Roku's President of Devices, Products, and Technology, reported the full disposition of 25,569 shares of Class A Common Stock, two vested stock options, and three unvested RSU awards upon completion of the Roku-Fox Corporation merger on November 6, 2026, resulting in zero remaining direct beneficial ownership.