Form 4: Cineverse Corp. Executive Erick Opeka Reports Acquisition of Restricted Stock Units
SEC Form 4 Filing
Erick Opeka, CSO and President of Cineverse Corp., reports the acquisition of 94,550 Restricted Stock Units (RSUs) on May 1, 2025.
Summary
- Erick Opeka, CSO and President of Cineverse Corp., filed a Form 4 detailing changes in beneficial ownership.
- The report indicates the acquisition of 94,550 Restricted Stock Units (RSUs) on May 1, 2025, each equivalent to one share of Class A common stock.
- These RSUs vest in three tranches: 31,517 on May 1, 2026, 31,517 on May 1, 2027, and 31,516 on May 1, 2028.
- Opeka also holds 194,146 shares of Class A Common Stock directly.
- Additionally, Opeka possesses stock appreciation rights (SARs) with various vesting schedules and exercise prices.
Sentiment
Score: 6
Explanation: Neutral sentiment as it's a routine disclosure of executive compensation. The vesting schedule suggests a long-term commitment, which is mildly positive.
Positives
- The acquisition of RSUs by a key executive signals confidence in the company's future performance.
- The vesting schedule of the RSUs incentivizes long-term commitment from the executive.
Industry Context
Form 4 filings are standard practice and provide transparency regarding the holdings and transactions of company insiders. This filing indicates executive compensation and alignment with shareholder interests.
Stakeholder Impact
- Shareholders may view the RSU grant as an incentive for the executive to drive company performance.
- Employees may see this as a positive sign of executive commitment.
Key Dates
| Date | Description |
|---|---|
| 03/31/2019 | One-third of the stock appreciation rights ($23.2) vested. |
| 03/31/2020 | One-third of the stock appreciation rights ($23.2) vested. |
| 03/31/2021 | One-third of the stock appreciation rights ($23.2) vested. |
| 03/31/2022 | 25,000 stock appreciation rights ($12.8) vested. |
| 03/31/2023 | 25,000 stock appreciation rights ($12.8) vested. |
| 12/31/2023 | 10,000 stock appreciation rights ($12.8) vested. |
| 05/16/2024 | 25,000 stock appreciation rights ($5.8) vest. |
| 05/01/2025 | Date of transaction: Acquisition of 94,550 RSUs. 25,000 stock appreciation rights ($5.8) vest. |
| 04/25/2026 | 45,833 shares of restricted stock vest. |
| 05/01/2026 | 31,517 RSUs vest. 25,000 stock appreciation rights ($5.8) vest. |
| 04/25/2027 | 45,834 shares of restricted stock vest. |
| 05/01/2027 | 31,517 RSUs vest. |
| 05/01/2028 | 31,516 RSUs vest. |
| 09/28/2028 | Expiration date for stock appreciation rights ($23.2). |
| 12/23/2030 | Expiration date for stock appreciation rights ($12.8). |
| 05/16/2033 | Expiration date for stock appreciation rights ($5.8). |
Keywords
Form 4, Cineverse Corp, Erick Opeka, Restricted Stock Units, Beneficial Ownership, Stock Appreciation Rights, CNVS
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