Form 4: Cineverse Corp. Executive Gary S. Loffredo Reports Changes in Beneficial Ownership

Gary S. Loffredo, CLO, Secretary, and Sr Advisor of Cineverse Corp., reports transactions involving Class A Common Stock and derivative securities, including the vesting of restricted stock units and stock appreciation rights.

Summary

• Gary S. Loffredo, a key officer at Cineverse Corp., filed a Form 4 detailing changes in his beneficial ownership of the company's securities.
• The reported transactions include the vesting of 33,333 Class A Common Stock shares on April 25, 2025.
• Loffredo also disposed of 33,122 shares to cover tax liabilities related to the vesting of restricted shares and restricted stock units at a price of $3.
• Following these transactions, Loffredo directly owns 203,459 shares of Class A Common Stock and 170,337 shares of restricted stock.
• He also holds derivative securities, including stock appreciation rights for 20,380 shares (exercisable at $29.4), 60,000 shares (exercisable at $12.8), and 40,000 shares (exercisable at $5.8), as well as restricted stock units for 66,667 shares.

Sentiment

Score: 5

Explanation: This is a routine regulatory filing, so the sentiment is neutral. It reflects standard compensation practices and tax obligations.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the trading activities of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• The transactions reported may have a minor impact on shareholders due to the dilution effect of vested shares.
• Employees holding similar equity-based compensation may be interested in the details of vesting schedules and tax implications.

Key Dates

Keywords

Form 4, beneficial ownership, Cineverse Corp, CNVS, Loffredo, stock appreciation rights, restricted stock units, Class A Common Stock, vesting, tax liability