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Morgan Stanley Finance LLC, guaranteed by Morgan Stanley, is offering 1.5-Year NVDA Trigger Jump Securities maturing February 3, 2027. Each $1,000 note references NVIDIA Corporation (NVDA) common stock and provides a fixed, capped upside payment of $299.30 (29.93%) if the final share price is at or above the initial share price on the January 29, 2027 valuation date. Should NVDA decline by up to 35%, investors still receive full principal. If NVDA falls by more than 35%, repayment equals $1,000 脳 share performance factor, exposing investors to uncapped downside.

Key structural points include a 65% downside threshold, no interim interest, and an estimated value of $962.70鈥攁bout 3.7% below the $1,000 issue price鈥攔eflecting issuance and hedging costs. The securities will not be listed; liquidity will depend on Morgan Stanley鈥檚 willingness to make a market. All payments carry credit risk of the issuer and guarantor. Investors should also consider tax uncertainty and that the calculation agent is a Morgan Stanley affiliate, which may create conflicts of interest.

The product may appeal to investors comfortable with Morgan Stanley credit exposure who seek enhanced, but capped, equity-linked returns in exchange for accepting the risk of significant loss if NVDA declines more than 35%.

ACV Auctions Inc. (ACVA) 鈥� Form 4 overview: Chief Operating Officer Vikas Mehta reported several equity-related transactions.

• Performance Stock Units (PSUs): 60,912 PSUs granted on 05/28/2024 (Code J). These units vest in three equal tranches on 7/1/2025, 7/1/2026 and 7/1/2027, but only if a stock-price performance hurdle is met. The filing corrects a prior Form 4 that had mistakenly shown these shares as Class A Common Stock in Table I.
• Tax-withholding share dispositions: On 07/01/2025 the issuer automatically withheld 17,188 common shares (4,487 + 6,382 + 6,319) at $16.48 per share (Code F) to satisfy payroll taxes on previously-granted time-based RSUs. The transactions are explicitly noted as non-discretionary.
• Post-transaction holdings: Mehta now owns 592,565 common shares directly, which include 1,079 shares purchased through the 2021 Employee Stock Purchase Plan. He also holds 60,912 PSUs that could convert into an equal number of shares if both service and performance conditions are met.
• Administrative correction: The company鈥檚 Class A Common Stock is now simply designated 鈥淐ommon Stock鈥� following charter amendments; no economic rights changed.

Investor take-aways: The filing is primarily procedural. The PSU grant strengthens pay-for-performance alignment, while the share withholding is routine and does not signal open-market selling pressure. Net direct ownership fell by about 2.8%, but the officer retains a sizable stake and meaningful performance-linked upside.

RWC Asset Management LLP, a UK-based investment adviser, filed Amendment No. 4 to Schedule 13G disclosing ownership of 1,523,942 ordinary shares of Auna S.A. (CUSIP L0415A103) as of 30 June 2025.

The stake equals 5.07 % of AUNA鈥檚 outstanding shares, surpassing the 5 % threshold that triggers a passive ownership filing under Section 13(d).

• Sole voting power: 1,523,942 shares
• Sole dispositive power: 1,523,942 shares
• No shared voting or dispositive power
• Reporting person classification: Investment Adviser (IA)

No intentions, transaction details, or control arrangements are disclosed. The filing simply confirms a significant but passive institutional position in Auna.

HubSpot, Inc. (HUBS) 鈥� Form 4 insider filing: Chief Technology Officer and Director Dharmesh Shah reported a Code F transaction on 01 July 2025, indicating 680 common shares were withheld by the company at $557.86 each to satisfy tax obligations related to restricted stock unit (RSU) settlement. No open-market sale occurred. Following the withholding, Shah directly owns 1,293,283 HUBS shares. He also reports indirect ownership of 16,000 shares in Polaris I Trust and 11,000 shares in Polaris II Trust; he disclaims beneficial ownership beyond his pecuniary interest. The filing shows continued substantial equity alignment by a key executive and does not signal any discretionary share sale.

HubSpot, Inc. (HUBS) 鈥� Form 4 insider filing

Director and co-founder Brian Halligan reported an internal tax-related share withholding on 01 July 2025. The company withheld 717 common shares at a price of $557.86 per share (transaction code F) to cover payroll taxes triggered by the vesting of restricted stock units (RSUs). After the transaction, Halligan鈥檚 direct ownership stands at 523,267 common shares. No open-market purchase or sale occurred, and there were no derivative security transactions disclosed.

The filing is routine, does not reflect a discretionary sale, and has no material impact on HubSpot鈥檚 operations, capital structure, or market outlook.

Royal Bank of Canada (RY) has filed a 424B2 pricing supplement for a small $555,000 issuance of Capped Enhanced Return Buffer Notes linked to the EURO STOXX 50 Index, maturing 6 July 2027. The notes offer 300% participation in positive index performance, but gains are capped at 24%, limiting the maximum redemption to $1,240 per $1,000 face value. The structure includes a 15% downside buffer; investors receive full principal if the index is down 鈮�15%, but lose 1% of principal for every 1% decline beyond that threshold.

The notes pay no periodic interest and are senior unsecured obligations of RBC, exposing holders to the bank鈥檚 credit risk. They will not be listed on any exchange and secondary liquidity, if any, will be provided solely by RBC Capital Markets at its discretion. The initial estimated value is $980.29 per $1,000鈥�2.0% below the public offering price鈥攔eflecting dealer compensation, hedge costs and RBC鈥檚 lower internal funding rate.

Key risk disclosures highlight potential loss of principal, limited upside compared with direct equity exposure, valuation and liquidity constraints, and uncertain U.S. tax treatment. The product suits investors seeking amplified, yet capped, exposure to Eurozone equities with partial downside protection, and who can hold to maturity and tolerate issuer credit and market risks.

HubSpot, Inc. (HUBS) has filed a Form 144 indicating the planned sale of 2,383 common shares on or after 07/02/2025. The planned sale, to be executed through Fidelity Brokerage Services on the NYSE, carries an aggregate market value of $1.31 million. The filing lists 52,737,566 shares outstanding, so the proposed transaction represents roughly 0.0045 % of the float.

The notice also discloses that the same seller鈥攊dentified as Yamini Rangan (address: Two Canal Park, Cambridge, MA)鈥攈as executed three sales in the previous three months totaling 3,675 shares and $2.14 million in gross proceeds (04/02/2025, 04/24/2025, 06/03/2025). All shares being sold were acquired on 07/01/2025 via restricted-stock vesting and are being disposed of as compensation.

No additional financial results or operational updates are included in this filing; the document is limited to disclosure of the proposed insider transaction required under Rule 144.

HubSpot Director Brian Halligan reported significant insider transactions executed on June 17, 2025, under a pre-established 10b5-1 trading plan from March 3, 2025. The transactions involved:

• Exercised 6,955 stock options at $159.70 per share (fully vested options expiring February 1, 2029)
• Acquired 6,955 common shares through option exercise
• Sold 8,500 common shares at an average price of $548.03

Following these transactions, Halligan's holdings include:

• 523,984 shares of common stock held directly
• 1,694 remaining stock options

The transactions represent a notable disposition of shares at a significant premium to the option exercise price, potentially indicating profit-taking while maintaining a substantial equity position in the company.