Form 4: Cineverse CEO Reports Future RSU Grant & Holdings
Insider Ownership Report
Cineverse Corp. CEO Christopher J. McGurk filed a Form 4 detailing his beneficial ownership of Class A Common Stock, including a future grant of 263,006 Restricted Stock Units effective October 8, 2025.
Summary
- Christopher J. McGurk, CEO and Chairman of Cineverse Corp. (CNVS), reported his beneficial ownership of the company's securities.
- He indirectly owns 103,526 shares of Class A Common Stock through the Christopher and Jamie McGurk Living Trust.
- He directly owns 492,519 shares of Class A Common Stock, which includes 100,000 restricted shares vesting 50,000 on April 25, 2026, and 50,000 on April 25, 2027.
- McGurk holds 35,000 Stock Appreciation Rights (SARs) with an exercise price of $29.4, expiring on June 7, 2028, which fully vested by March 31, 2021.
- He also holds 125,000 SARs with an exercise price of $10.8, expiring on November 19, 2030, which fully vested by March 31, 2023.
- An additional 125,000 SARs are held with an exercise price of $9.6, expiring on October 17, 2032, which fully vested by April 1, 2025.
- McGurk holds 100,000 Restricted Stock Units (RSUs) where 50,000 are scheduled to vest on April 25 of each of 2025, 2026, and 2027.
- He holds 120,000 RSUs where 40,000 are scheduled to vest on May 1 of each of 2026, 2027, and 2028.
- A new grant of 263,006 RSUs was reported with an effective transaction date of October 8, 2025, vesting 87,669 on October 8 of 2026 and 2027, and 87,668 on October 8, 2028.
Sentiment
Score: 6
Explanation: The filing is largely neutral as it reports routine insider holdings and a future equity grant. The grant of new RSUs is a positive signal for management's long-term alignment, slightly elevating the sentiment from purely neutral.
Positives
- The reporting of a future grant of 263,006 Restricted Stock Units to the CEO indicates continued long-term incentive and alignment with shareholder interests.
- Significant direct and indirect beneficial ownership by the CEO demonstrates a strong vested interest in the company's performance.
Future Outlook
The future grant of Restricted Stock Units to the CEO suggests a continued commitment to long-term performance and aligns management's incentives with future shareholder value creation.
Industry Context
This Form 4 filing is a routine disclosure of insider ownership and equity compensation, which is common across all publicly traded companies. It does not provide specific industry-wide insights but reflects standard practices for executive compensation in the media and entertainment sector.
Related Party Transactions
- Indirect beneficial ownership of 103,526 shares through the Christopher and Jamie McGurk Living Trust, where the reporting person is a trustee.
Stakeholder Impact
- Shareholders: The filing provides transparency into the CEO's equity holdings and future incentives, which can influence investor confidence and perception of management's alignment with long-term company performance.
Next Steps
- Vesting of 50,000 restricted shares on April 25, 2026.
- Vesting of 50,000 restricted shares on April 25, 2027.
- Vesting of 50,000 Restricted Stock Units on April 25, 2025, 2026, and 2027.
- Vesting of 40,000 Restricted Stock Units on May 1, 2026, 2027, and 2028.
- Vesting of 87,669 Restricted Stock Units on October 8, 2026, and 2027, and 87,668 on October 8, 2028.
Key Dates
| Date | Description |
|---|---|
| 03/31/2019 | One-third of 35,000 Stock Appreciation Rights vested. |
| 03/31/2020 | One-third of 35,000 Stock Appreciation Rights vested. |
| 11/19/2020 | 62,500 of 125,000 Stock Appreciation Rights vested. |
| 03/31/2021 | One-third of 35,000 Stock Appreciation Rights vested. |
| 03/31/2023 | 62,500 of 125,000 Stock Appreciation Rights vested. |
| 04/01/2023 | 41,666 of 125,000 Stock Appreciation Rights vested. |
| 04/01/2024 | 41,666 of 125,000 Stock Appreciation Rights vested. |
| 04/01/2025 | 41,668 of 125,000 Stock Appreciation Rights vested. |
| 04/25/2025 | 50,000 Restricted Stock Units (from the 100,000 RSU grant) are scheduled to vest. |
| 10/08/2025 | Date of earliest transaction for the grant of 263,006 Restricted Stock Units. |
| 10/10/2025 | Signature date of the reporting person. |
| 04/25/2026 | 50,000 restricted shares (part of direct ownership) are scheduled to vest. Additionally, 50,000 Restricted Stock Units (from the 100,000 RSU grant) are scheduled to vest. |
| 05/01/2026 | 40,000 Restricted Stock Units (from the 120,000 RSU grant) are scheduled to vest. |
| 10/08/2026 | 87,669 Restricted Stock Units (from the 263,006 RSU grant) are scheduled to vest. |
| 04/25/2027 | 50,000 restricted shares (part of direct ownership) are scheduled to vest. Additionally, 50,000 Restricted Stock Units (from the 100,000 RSU grant) are scheduled to vest. |
| 05/01/2027 | 40,000 Restricted Stock Units (from the 120,000 RSU grant) are scheduled to vest. |
| 10/08/2027 | 87,669 Restricted Stock Units (from the 263,006 RSU grant) are scheduled to vest. |
| 05/01/2028 | 40,000 Restricted Stock Units (from the 120,000 RSU grant) are scheduled to vest. |
| 06/07/2028 | Expiration date for 35,000 Stock Appreciation Rights. |
| 10/08/2028 | 87,668 Restricted Stock Units (from the 263,006 RSU grant) are scheduled to vest. |
| 11/19/2030 | Expiration date for 125,000 Stock Appreciation Rights. |
| 10/17/2032 | Expiration date for 125,000 Stock Appreciation Rights. |
Keywords
Cineverse, CNVS, Form 4, Insider Ownership, Restricted Stock Units, Stock Appreciation Rights, CEO, Director, Equity Compensation, Beneficial Ownership
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