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Now that the lesson that such things can happen, it may be useful to anticipate a repeat. One could keep tabs on upcoming mergers/spinoffs on
stocks owned and inquire about the consequences.
I too was blindsided by a similar exchange in 2017. I was used to such
exchanges being mostly tax free so had no idea. Hopefully lesson learned and I will be more alert in the future.
It is likely that your penalty will be minimal. Since there would have been no penalty at $1000, I believe the penalty, if any, will be based on
the excess $50 and interest at 5% or so for the period it was late (3 mos or so). Should not be very much and likely not worth IRS time to pursue.