Form 4: Cineverse Corp. Director Peter C. Brown Reports Stock Acquisition

Director Peter C. Brown acquired 24,433 shares of Cineverse Corp. Class A Common Stock as part of his annual retainer.

Summary

• Peter C. Brown, 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, with immediate vesting upon grant and further vesting on March 31, 2025, June 30, 2025, and September 30, 2025, contingent on his continued service as a director.
• Mr. Brown also indirectly owns 4,603 shares through Grassmere Partners, LLC, where he serves as Chairman, but disclaims beneficial ownership except for any pecuniary interest.
• The transaction was reported on January 7, 2025.

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 negative implications.

Positives

• The acquisition of shares by a director demonstrates alignment of interests with shareholders.
• The vesting schedule incentivizes continued service on the board.

Industry Context

This is a standard practice for compensating board members in publicly traded companies, aligning their interests with those of shareholders.

Comparison to Industry Standards

• Stock grants as part of director compensation are common practice across various industries.
• The vesting schedule is typical, designed to retain board members and align their interests with the long-term performance of the company.
• Many companies use a similar approach to incentivize board members, including companies such as Netflix, Disney, and Paramount.

Stakeholder Impact

• The stock acquisition by a director can be viewed positively by shareholders as it aligns interests.
• The vesting schedule incentivizes the director to remain engaged with the company.

Key Dates

Keywords

Cineverse Corp, Peter C. Brown, Director, Stock Acquisition, Class A Common Stock, Annual Retainer, Board Service, Vesting, Grassmere Partners LLC, Beneficial Ownership