Form 4: Cineverse Corp. Director Pat O'Brien Acquires Shares as Part of Annual Retainer
SEC Form 4 Filing
Director Pat O'Brien acquired 24,433 shares of Cineverse Corp. stock as part of his annual retainer for board service.
Summary
- Pat O'Brien, a director at Cineverse Corp., acquired 24,433 shares of Class A Common Stock on January 3, 2025.
- These shares were granted as part of his annual retainer for board service, commencing October 1, 2024.
- The shares vest in quarterly installments, immediately upon grant and on March 31, 2025, June 30, 2025, and September 30, 2025, contingent on his continued service as a director on those dates.
- Following this transaction, O'Brien's total direct holdings in Cineverse Corp. amount to 128,493 shares.
Sentiment
Score: 7
Explanation: The document reflects a routine transaction related to director compensation, which is generally viewed positively as it aligns interests. There are no indications of negative sentiment.
Positives
- The acquisition of shares by a director demonstrates alignment of interests with shareholders.
- The vesting schedule incentivizes continued service and commitment from the director.
Industry Context
This type of stock grant is a common practice for compensating board members, aligning their interests with the company's performance and shareholder value.
Comparison to Industry Standards
- Stock-based compensation for board members is a standard practice across many industries, particularly in publicly traded companies.
- The vesting schedule is typical, designed to retain directors and incentivize long-term commitment.
- Companies like Netflix, Disney, and Paramount also use stock grants as part of their director compensation packages, often with similar vesting schedules.
Stakeholder Impact
- Shareholders may view this positively as it aligns director interests with company performance.
- The vesting schedule encourages long-term commitment from the director.
Key Dates
| Date | Description |
|---|---|
| 10/01/2024 | Start date of the board service year for which the shares were granted. |
| 01/03/2025 | Date of the stock acquisition by Pat O'Brien. |
| 01/07/2025 | Date of the filing of the SEC Form 4. |
| 03/31/2025 | First quarterly vesting date for the shares. |
| 06/30/2025 | Second quarterly vesting date for the shares. |
| 09/30/2025 | Third quarterly vesting date for the shares. |
Keywords
Cineverse Corp, Director, Pat O'Brien, Stock Acquisition, Annual Retainer, Share Vesting, Board Service, Class A Common Stock
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