Form 4: Cineverse Corp. Executive Gary S. Loffredo Reports Acquisition of 100,000 Shares and Restricted Stock Units

Gary S. Loffredo, CLO, Secretary, and Sr Advisor of Cineverse Corp., reports acquiring 100,000 shares of Class A Common Stock and 100,000 Restricted Stock Units on April 25, 2024.

Summary

• On April 25, 2024, Gary S. Loffredo, CLO, Secretary, and Sr Advisor of Cineverse Corp., acquired 100,000 shares of Class A Common Stock.
• The acquisition price was $0 per share.
• Following the transaction, Loffredo directly owns 170,126 shares of Class A Common Stock.
• Loffredo also acquired 100,000 Restricted Stock Units (RSUs), each representing one share of Class A common stock.
• These RSUs vest in three tranches: 33,333 on April 25 of each of 2025 and 2026, and 33,334 on April 25, 2027.
• Loffredo also holds stock appreciation rights (SARs) for 30,000 shares (exercise price $29.4, expiring 09/13/2031), 60,000 shares (exercise price $12.8, expiring 12/23/2030), and 40,000 shares (exercise price $5.8, expiring 05/16/2033).

Sentiment

Score: 6

Explanation: Neutral sentiment as it's a standard regulatory filing. The acquisition of shares and RSUs by an executive is generally a positive sign, but it's not a major event.

Positives

• The acquisition of shares and RSUs by a key executive signals confidence in the company's future prospects.
• The vesting schedule of the RSUs (2025-2027) suggests a long-term commitment by the executive.

Future Outlook

The document does not contain explicit forward-looking statements, but the vesting schedule of the RSUs implies a continued relationship between the executive and the company.

Industry Context

Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. They provide investors with insights into the actions of company executives and their confidence in the company's stock.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies and their executives.
• The vesting schedules and terms of the RSUs and SARs are typical forms of executive compensation.

Stakeholder Impact

• The acquisition of shares by an executive could have a slightly positive impact on shareholder sentiment.
• The granting of RSUs and SARs incentivizes the executive to work towards the long-term success of the company, potentially benefiting all stakeholders.

Key Dates