Codere Online (NASDAQ: CDRO) CMO details initial share and option stake

Rhea-AI Filing Summary

Codere Online Luxembourg, S.A. filed an initial insider report for Chief Marketing Officer Alberto Hernan Telias, detailing his equity holdings in the company. He directly holds 25,776 ordinary shares, including 5,156 shares underlying restricted share units scheduled to vest on December 31, 2026.

He also holds several option awards over ordinary shares with different exercise prices and maturities. These include options over 50,324 shares at an exercise price of $10.0000 expiring on December 31, 2027, and additional option grants at exercise prices of $8.4900 and $8.0300 with expirations ranging from 2034 to 2036, some of which are already vested and the remainder vesting in annual installments through 2030.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Telias Alberto Hernan

Role Chief Marketing Officer

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

Holdings After Transaction: Ordinary Share Option (right to buy) — 50,324 shares (Direct); Ordinary Shares — 25,776 shares (Direct)

Footnotes (1)

1. Includes 5,156 ordinary shares underlying restricted share units that will vest on December 31, 2026. Represents options granted under the Company's prior long-term incentive plan, of which 40,256 have vested. The remaining 10,068 unvested options vest on December 31, 2026. Represents options granted under the Company's long-term incentive plan ("LTIP"), of which 18,500 have vested. The remaining 18,500 unvested options vest in two equal annual installments on December 31, 2027 and December 31, 2028. Represents options granted under the LTIP, of which 7,500 have vested. The remaining 22,500 unvested options vest in three equal annual installments on December 31, 2027, December 31, 2028 and December 31, 2029. Represents options granted under the LTIP. These options vest in four equal annual installments on December 31, 2027, December 31, 2028, December 31, 2029 and December 31, 2030.

Understanding Insider Trading Forms →

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^*

Telias Alberto Hernan

(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)

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

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	25,776(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	50,324	$10	D
Ordinary Share Option (right to buy)	(3)	01/01/2034	Ordinary Shares	37,000	$8.49	D
Ordinary Share Option (right to buy)	(4)	01/01/2035	Ordinary Shares	30,000	$8.49	D
Ordinary Share Option (right to buy)	(5)	01/01/2036	Ordinary Shares	35,000	$8.03	D

Explanation of Responses:

1. Includes 5,156 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 40,256 have vested. The remaining 10,068 unvested options vest on December 31, 2026.

3. Represents options granted under the Company's long-term incentive plan ("LTIP"), of which 18,500 have vested. The remaining 18,500 unvested options vest in two equal annual installments on December 31, 2027 and December 31, 2028.

4. Represents options granted under the LTIP, of which 7,500 have vested. The remaining 22,500 unvested options vest in three equal annual installments on December 31, 2027, December 31, 2028 and December 31, 2029.

5. Represents options granted under the LTIP. These options vest in four equal annual installments on December 31, 2027, December 31, 2028, December 31, 2029 and December 31, 2030.

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)

FAQ

What insider position does CDRO’s Alberto Hernan Telias report on this Form 3?

Alberto Hernan Telias, Chief Marketing Officer of Codere Online Luxembourg (CDRO), reports his initial holdings of ordinary shares and stock options. The filing shows direct ownership of common shares plus multiple option grants with varying exercise prices and maturities extending through 2036.

How many Codere Online (CDRO) ordinary shares does the CMO directly hold?

The CMO directly holds 25,776 ordinary shares of Codere Online. This amount includes 5,156 ordinary shares underlying restricted share units that are scheduled to vest on December 31, 2026, increasing his effective equity exposure as those restricted units convert into fully vested shares.

What stock options over CDRO shares does Alberto Hernan Telias report?

He reports several option awards over Codere Online ordinary shares, including options with a $10.0000 exercise price expiring December 31, 2027. Additional options have exercise prices of $8.4900 and $8.0300, expiring between 2034 and 2036, providing long-term equity incentives.

How are the CDRO option grants for the CMO structured in terms of vesting?

The option grants are structured with both vested and unvested portions. Footnotes state that some options have already vested, while remaining tranches vest in equal annual installments on December 31 in years from 2026 through 2030, aligning incentives over multiple years.

Does this CDRO Form 3 show any recent insider buying or selling activity?

The Form 3 functions as an initial ownership report and lists existing holdings rather than new trades. The transactions are classified as holdings with unknown transaction codes, and summary data show no recorded buy, sell, exercise, gift, or tax-withholding activity in this filing.

What long-term incentive plans are referenced in the CDRO CMO’s Form 3 footnotes?

Footnotes state that some options were granted under the company’s prior long-term incentive plan, while others were granted under the current long-term incentive plan (LTIP). These awards include both vested options and unvested tranches that vest in annual installments through December 31, 2030.