Form 4: Cineverse Corp. Executive Gary S. Loffredo Reports Changes in Beneficial Ownership
SEC Filing Form 4
Gary S. Loffredo, CLO, Secretary, and Sr Advisor of Cineverse Corp., filed a Form 4 disclosing changes in beneficial ownership, including the acquisition of restricted stock units.
Summary
- Gary S. Loffredo, a key officer at Cineverse Corp., reported changes in his beneficial ownership of the company's stock.
- The report details the acquisition of 76,820 Restricted Stock Units (RSUs) on May 1, 2025, each representing one share of Class A common stock.
- Loffredo directly owns 170,337 shares of Class A Common Stock.
- He also holds stock appreciation rights (SARs) with various vesting schedules and exercise prices.
- The SARs grant him the right to buy shares of Class A Common Stock at predetermined prices.
- The RSUs vest over time, with portions vesting in 2025, 2026, 2027 and 2028.
Sentiment
Score: 5
Explanation: The sentiment is neutral as the document simply reports changes in beneficial ownership, which is a routine process. There is no indication of positive or negative sentiment.
Positives
- The acquisition of RSUs suggests confidence in the company's future performance from the executive.
- The vesting schedules of the RSUs and SARs align the executive's interests with the long-term success of the company.
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
- Shareholders may be interested in the insider's activity as an indicator of management's confidence in the company.
Key Dates
| Date | Description |
|---|---|
| 12/10/2019 | One-third of stock appreciation rights vested. |
| 12/10/2020 | One-third of stock appreciation rights vested. |
| 12/10/2021 | One-third of stock appreciation rights vested. |
| 03/31/2022 | 25,000 SARs vested. |
| 03/31/2023 | 25,000 SARs vested. |
| 06/30/2023 | 10,000 SARs vested. |
| 05/16/2024 | 13,333 stock appreciation rights vest. |
| 04/25/2025 | 33,333 Restricted Stock Units vest. |
| 05/01/2025 | Date of transaction and acquisition of 76,820 RSUs; 13,333 stock appreciation rights vest. |
| 04/25/2026 | 33,333 Restricted Stock Units vest. |
| 05/01/2026 | 13,334 stock appreciation rights vest. |
| 04/25/2027 | 33,334 Restricted Stock Units vest. |
| 05/01/2026 | 25,607 Restricted Stock Units vest. |
| 05/01/2027 | 25,607 Restricted Stock Units vest. |
| 05/01/2028 | 25,606 Restricted Stock Units vest. |
| 12/10/2028 | Expiration date for stock appreciation rights with exercise price of $29.4. |
| 12/23/2030 | Expiration date for stock appreciation rights with exercise price of $12.8. |
| 05/16/2033 | Expiration date for stock appreciation rights with exercise price of $5.8. |
Keywords
beneficial ownership, Form 4, Cineverse Corp, CNVS, stock appreciation rights, restricted stock units, Gary S. Loffredo, equity, securities
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