Form 4: Cineverse Corp. Director Mary Ann Halford Reports Acquisition of Shares
SEC Form 4 Filing
Director Mary Ann Halford acquired 24,433 shares of Cineverse Corp. Class A Common Stock as part of her annual retainer.
Summary
- Mary Ann Halford, a director at Cineverse Corp., reported acquiring 24,433 shares of Class A Common Stock on January 3, 2025.
- These shares were received as part of her annual retainer for board service, commencing October 1, 2024.
- The shares vest in quarterly amounts immediately upon grant and on March 31, 2025, June 30, 2025 and September 30, 2025, contingent on her continued service as a director.
- Additionally, the report includes shares that vest 1/3 on December 8 of each of 2024, 2025 and 2026, also contingent on her continued service as a director.
- Following the transaction, Ms. Halford beneficially owns 265,548 shares of Cineverse Corp. Class A Common Stock.
Sentiment
Score: 7
Explanation: The document reflects a standard transaction related to director compensation, which is generally viewed positively as it aligns director interests with shareholders. There are no negative implications.
Positives
- The acquisition of shares by a director demonstrates alignment of interests with shareholders.
- The vesting schedule encourages continued service and commitment from the director.
Industry Context
This is a standard SEC Form 4 filing, which is common for directors and officers of publicly traded companies when they acquire or dispose of company stock. It reflects standard compensation practices for board members.
Comparison to Industry Standards
- The vesting schedule of the shares is typical for director compensation packages, aligning with industry standards for incentivizing long-term commitment.
- The use of stock as part of the annual retainer is a common practice among publicly traded companies to align director interests with shareholder value.
Stakeholder Impact
- The share acquisition by a director can be viewed positively by shareholders as it aligns the director's interests with the company's performance.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Commencement of board service for which the shares are part of the annual retainer. |
| 12/08/2024 | First vesting date for a portion of the shares. |
| 01/03/2025 | Date of the reported share acquisition. |
| 01/07/2025 | Date of the filing of the Form 4. |
| 03/31/2025 | Next quarterly vesting date for a portion of the shares. |
| 06/30/2025 | Next quarterly vesting date for a portion of the shares. |
| 09/30/2025 | Next quarterly vesting date for a portion of the shares. |
| 12/08/2025 | Next vesting date for a portion of the shares. |
| 12/08/2026 | Final vesting date for a portion of the shares. |
Keywords
Cineverse Corp, Director, Mary Ann Halford, Share Acquisition, Class A Common Stock, Beneficial Ownership, Vesting, Annual Retainer, Board Service
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