Codere Online CEO reports initial holdings

Codere Online Luxembourg, S.A.

Rhea-AI Filing Summary

Codere Online Luxembourg, S.A. Chief Executive Officer Sher Aviv filed an initial ownership report showing a mix of ordinary shares, restricted share units and stock options. Aviv holds 44,732 Ordinary Shares, including 8,948 shares underlying restricted share units that will vest on December 31, 2026.

Aviv also holds options over 87,333 Ordinary Shares at an exercise price of $10.0000 expiring on December 31, 2027, and additional option grants over 100,000, 85,000 and 85,000 Ordinary Shares at exercise prices of $8.4900 and $8.0300, expiring between 2034 and 2036. Footnotes explain that portions of these options have already vested, with the remaining awards vesting in annual installments from December 31, 2026 through December 31, 2030.

Insider Trade Summary

5 transactions reported

Mixed 5 txns

Insider Sher Aviv

Role Chief Executive 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) — 357,333 contracts (Direct); Ordinary Shares — 44,732 shares (Direct)

Footnotes (5)

1. F1. Includes 8,948 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 69,864 have vested. The remaining 17,469 unvested options vest on December 31, 2026.
3. F3. Represents options granted under the Company's long-term incentive plan ("LTIP"), of which 50,000 have vested. The remaining 50,000 unvested options vest in two equal annual installments on December 31, 2027 and December 31, 2028.
4. F4. Represents options granted under the LTIP, of which 21,250 have vested. The remaining 63,750 unvested options vest in three equal annual installments on December 31, 2027, December 31, 2028 and December 31, 2029.
5. F5. 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.

FAQ

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

What does Sher Aviv’s Form 3 filing for Codere Online (CDRO) show?

The Form 3 shows Sher Aviv’s initial ownership in Codere Online, including 44,732 Ordinary Shares, restricted share units vesting in 2026, and several stock option grants with exercise prices between $8.03 and $10 expiring from 2027 to 2036.

How many Codere Online (CDRO) shares does CEO Sher Aviv directly own?

Sher Aviv directly owns 44,732 Ordinary Shares of Codere Online. This figure includes 8,948 shares underlying restricted share units that are scheduled to vest on December 31, 2026, expanding Aviv’s effective equity stake when those units convert into tradable shares.

What stock options does Sher Aviv hold in Codere Online (CDRO)?

Sher Aviv holds multiple option grants over Ordinary Shares. These include 87,333 shares at a $10.00 exercise price expiring December 31, 2027, plus additional grants at $8.49 and $8.03 per share with expirations stretching from January 1, 2034 through January 1, 2036.

How are Sher Aviv’s Codere Online (CDRO) options scheduled to vest?

The options vest over several years. One grant has 17,469 unvested options vesting on December 31, 2026, while others vest in equal annual installments on December 31 of 2027, 2028, 2029 and 2030, spreading Aviv’s potential share acquisition over time.

What are the exercise prices on Sher Aviv’s Codere Online (CDRO) options?

Sher Aviv’s options carry exercise prices of $10.0000, $8.4900 and $8.0300 per Ordinary Share. These fixed prices define the cost to convert options into shares before their respective expirations in 2027, 2034, 2035 and 2036, subject to each grant’s vesting schedule.

Does Sher Aviv hold unvested equity awards in Codere Online (CDRO)?

Yes. Footnotes show unvested restricted share units and unvested options. For example, 8,948 RSU-based shares vest on December 31, 2026, while several option grants have remaining unvested portions vesting annually between December 31, 2026 and December 31, 2030 under Codere Online’s long-term incentive plans.

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

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Accepted by SEC EDGAR 03/25/2026 - 04:15 PM 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^*

Sher Aviv

(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 Executive 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	44,732(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	87,333	$10	D
Ordinary Share Option (right to buy)	(3)	01/01/2034	Ordinary Shares	100,000	$8.49	D
Ordinary Share Option (right to buy)	(4)	01/01/2035	Ordinary Shares	85,000	$8.49	D
Ordinary Share Option (right to buy)	(5)	01/01/2036	Ordinary Shares	85,000	$8.03	D

Explanation of Responses:

1. Includes 8,948 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 69,864 have vested. The remaining 17,469 unvested options vest on December 31, 2026.

3. Represents options granted under the Company's long-term incentive plan ("LTIP"), of which 50,000 have vested. The remaining 50,000 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 21,250 have vested. The remaining 63,750 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)