Codere Online director reports initial holdings

Codere Online Luxembourg, S.A. director Francisco De Borja Fernandez Espejel reported his initial ownership in a Form 3.

Rhea-AI Filing Summary

Codere Online Luxembourg, S.A. director Francisco De Borja Fernandez Espejel reported his initial ownership in a Form 3. He holds 35,854 ordinary shares directly, including 8,543 shares underlying restricted share units scheduled to vest on December 31, 2026. He also holds options over 70,000 ordinary shares at an exercise price of 10.0000 per share, expiring on December 31, 2027, of which 53,321 options are already vested and 16,679 are scheduled to vest on December 31, 2026.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Fernandez Espejel Francisco De Borja

Role Director

Type	Security	Shares	Price	Value
holding	Ordinary Share Option (right to buy)	--	--	--
holding	Ordinary Shares	--	--	--

Holdings After Transaction: Ordinary Share Option (right to buy) — 70,000 contracts (Direct); Ordinary Shares — 35,854 shares (Direct)

Footnotes (2)

1. F1. Includes 8,543 ordinary shares underlying restricted share units that will vest on December 31, 2026.
2. F2. Represents options granted under the Company's prior long-term incentive plan, of which 53,321 have vested. The remaining 16,679 unvested options vest on December 31, 2026.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider position did Codere Online (CDRO) report for Francisco De Borja Fernandez Espejel?

Codere Online reported that director Francisco De Borja Fernandez Espejel holds 35,854 ordinary shares directly. This total includes both currently owned shares and those tied to restricted share units that will vest in the future.

How many Codere Online (CDRO) restricted share units does the director have and when do they vest?

The director has 8,543 ordinary shares underlying restricted share units. These units are scheduled to vest on December 31, 2026, which would increase his directly held share count once they are delivered.

What stock options in Codere Online (CDRO) does the director hold according to the Form 3?

He holds options over 70,000 ordinary shares with an exercise price of 10.0000 per share. These options were granted under a prior long-term incentive plan and give him the right to buy additional shares at that price.

How many of the Codere Online (CDRO) options are already vested for the director?

Out of the 70,000 options, 53,321 options have already vested. This means he can choose to exercise those vested options at the stated exercise price before they expire if he decides to do so.

When will the remaining unvested Codere Online (CDRO) options vest for the director?

The remaining 16,679 unvested options are scheduled to vest on December 31, 2026. Once vested, these options will be exercisable on the same terms as the already vested portion, subject to plan conditions.

When do the director’s Codere Online (CDRO) stock options expire?

The reported options over 70,000 ordinary shares expire on December 31, 2027. After this expiration date, any unexercised options will lapse and no longer give the right to purchase shares at the exercise price.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 03/25/2026 - 04:16 PM EDT Learn about SEC filing dates

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

Fernandez Espejel Francisco De Borja

(Last) (First) (Middle)

7 RUE ROBERT STUMPER

(Street)

LUXEMBOURG L-2557

(City) (State) (Zip)

LUXEMBOURG

(Country)

2. Date of Event Requiring Statement (Month/Day/Year)
03/18/2026

3. Issuer Name and Ticker or Trading Symbol
Codere Online Luxembourg, S.A. [ CDRO ]

3a. Foreign Trading Symbol

5. If Amendment, Date of Original Filed (Month/Day/Year)

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Ordinary Shares	35,854(1)	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Ordinary Share Option (right to buy)	(2)	12/31/2027	Ordinary Shares	70,000	$10	D

Explanation of Responses:

1. Includes 8,543 ordinary shares underlying restricted share units that will vest on December 31, 2026.

2. Represents options granted under the Company's prior long-term incentive plan, of which 53,321 have vested. The remaining 16,679 unvested options vest on December 31, 2026.

Remarks:

See Exhibit 24 - Power of Attorney.

	/s/ Yaiza Maria Rodriguez Robles, attorney-in-fact	03/25/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 3: SEC 1473 (03-26)