Form 4: Cineverse Corp. Director Halford Sells $20,000 in Shares to Cover Tax Obligations
SEC Form 4
Mary Ann Halford, a director at Cineverse Corp., sold 20,000 shares of Class A Common Stock on February 24, 2025, to cover tax obligations arising from vesting of issuer securities.
Summary
- On February 24, 2025, Mary Ann Halford, a director of Cineverse Corp., sold 20,000 shares of Class A Common Stock.
- The sale was executed at a weighted average price of $3.96 per share.
- The shares were sold in multiple transactions with prices ranging from $3.82 to $4.13.
- Following the transaction, Halford beneficially owns 245,548 shares, which includes shares vesting in future dates contingent on her continued service as a director.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing related to an insider transaction. It doesn't inherently convey positive or negative sentiment about the company's performance.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for company directors to sell shares to cover tax obligations related to vesting equity.
Stakeholder Impact
- The sale of shares by a director could have a minor negative impact on shareholder sentiment, but is unlikely to be significant given the reason for the sale.
Key Dates
| Date | Description |
|---|---|
| 12/08/2024 | 1/3 of 160,743 shares vest, contingent on continued service as director |
| 12/31/2024 | Quarterly vesting of 24,433 shares begins, contingent on continued service as director |
| 02/24/2025 | Date of transaction: Sale of 20,000 shares |
| 02/25/2025 | Date of Form 4 filing |
| 03/31/2025 | Quarterly vesting of 24,433 shares, contingent on continued service as director |
| 06/30/2025 | Quarterly vesting of 24,433 shares, contingent on continued service as director |
| 09/30/2025 | Quarterly vesting of 24,433 shares, contingent on continued service as director |
| 12/08/2025 | 1/3 of 160,743 shares vest, contingent on continued service as director |
| 12/08/2026 | 1/3 of 160,743 shares vest, contingent on continued service as director |
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.