Form 4: Cineverse Corp. CSO Erick Opeka Reports Stock Transactions
SEC Form 4
Erick Opeka, CSO and President of Cineverse Corp., reports acquisition and disposal of Class A Common Stock and vesting of Restricted Stock Units.
Summary
- On April 25, 2025, Erick Opeka, the CSO and President of Cineverse Corp., reported transactions involving Class A Common Stock.
- Opeka acquired 45,833 shares of Class A Common Stock through the vesting of Restricted Stock Units (RSUs).
- He also disposed of 45,650 shares of Class A Common Stock to cover tax liabilities related to the vesting of restricted shares and RSUs at a price of $3.
- Following these transactions, Opeka directly owns 194,146 shares of Class A Common Stock.
- Opeka also holds stock appreciation rights for 17,750 shares at an exercise price of $23.2, 60,000 shares at $12.8, and 75,000 shares at $5.8.
- Additionally, he holds 91,667 Restricted Stock Units.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document primarily reports routine stock transactions related to executive compensation.
Positives
- The vesting of RSUs indicates a form of compensation and alignment of interests between the executive and the company's performance.
Negatives
- The disposal of shares to cover tax liabilities, while common, slightly reduces the executive's direct stake in the company.
Risks
- Executive stock transactions can sometimes be interpreted as a reflection of the executive's sentiment about the company's future prospects, although tax-related sales are generally less concerning.
Future Outlook
The document outlines the vesting schedules for restricted stock units and stock appreciation rights, indicating future potential equity ownership changes for the reporting person.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies and are subject to regulatory reporting requirements to ensure transparency.
Comparison to Industry Standards
- Executive compensation packages often include a mix of salary, stock options, restricted stock units, and performance-based bonuses.
- Vesting schedules for equity awards are typically structured to incentivize long-term performance and retention.
- Companies like Netflix, Disney, and Paramount also use similar compensation methods for their executives.
Stakeholder Impact
- The transactions may have a minor impact on shareholders due to the change in beneficial ownership, but the overall effect is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 03/31/2019 | One-third of stock appreciation rights vested. |
| 03/31/2020 | One-third of stock appreciation rights vested. |
| 03/31/2021 | One-third of stock appreciation rights vested. |
| 03/31/2022 | 25,000 stock appreciation rights vested. |
| 03/31/2023 | 25,000 stock appreciation rights vested. |
| 12/31/2023 | 10,000 stock appreciation rights vested. |
| 05/16/2024 | 25,000 stock appreciation rights vest. |
| 04/25/2025 | Date of reported transactions; 45,833 RSUs vest; 45,833 shares of restricted stock vest. |
| 05/01/2025 | 25,000 stock appreciation rights vest. |
| 04/25/2026 | 45,833 RSUs vest; 45,833 shares of restricted stock vest. |
| 05/01/2026 | 25,000 stock appreciation rights vest. |
| 04/25/2027 | 45,834 shares of restricted stock vest; 45,834 RSUs vest. |
| 09/28/2028 | Expiration date for stock appreciation rights. |
| 12/23/2030 | Expiration date for stock appreciation rights. |
| 05/16/2033 | Expiration date for stock appreciation rights. |
Keywords
Cineverse Corp, Erick Opeka, stock transactions, Form 4, CSO, Restricted Stock Units, stock appreciation rights, Class A Common Stock, beneficial ownership
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