Codere Online (CDRO) director trims stake with 14,276-share sale

Rhea-AI Filing Summary

Codere Online Luxembourg, S.A. director Oscar Iglesias Sanchez reported an open-market sale of 14,276 Ordinary Shares on June 18, 2026. The shares were sold at a weighted average price of $10.035 per share, in multiple trades between $10.00 and $10.10. Following this transaction, he directly holds 104,111 Ordinary Shares, indicating that he retains a significant continuing stake in the company.

Insights

Equity ownership analyst

Director makes a routine-sized open-market share sale while keeping a sizeable position.

Director Oscar Iglesias Sanchez sold 14,276 Ordinary Shares of Codere Online Luxembourg, S.A. in an open-market transaction at a weighted average price of $10.035 per share. The trades occurred across a $10.00–$10.10 price range.

After the sale, he directly owns 104,111 Ordinary Shares, so this represents only part of his total holdings. There are no derivative positions listed, suggesting the visible equity exposure is now entirely in common shares.

The filing characterizes the move as a standard open-market sale, with no reference to a Rule 10b5-1 trading plan. Future ownership changes, if any, would be reflected in subsequent Form 4 filings.

Insider Trade Summary 10b5-1

Net Seller: 14,276 shares

Net Sell 1 txn

Insider Iglesias Sanchez Oscar

Role Director

Sold 14,276 shs ($143K)

Type	Security	Shares	Price	Value
Sale	Ordinary Shares	14,276	$10.035	$143K

Holdings After Transaction: Ordinary Shares — 104,111 shares (Direct)

Footnotes (1)

1. F1. The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $10.00 to $10.10. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

Key Figures

Shares sold: 14,276 shares Weighted average sale price: $10.035 per share Post-transaction holdings: 104,111 shares +2 more

5 metrics

Shares sold 14,276 shares Ordinary Shares sold on June 18, 2026

Weighted average sale price $10.035 per share Open-market sale of Ordinary Shares

Post-transaction holdings 104,111 shares Ordinary Shares held directly after sale

Sale price range low $10.00 per share Lowest price in sale range

Sale price range high $10.10 per share Highest price in sale range

Key Terms

open-market sale, weighted average price, Ordinary Shares, Form 4

4 terms

open-market sale financial

"The transaction is described as an open-market sale of Ordinary Shares."

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average price financial

"The price reported is a weighted average price for multiple transactions."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

Ordinary Shares financial

"The security title listed for the transaction is Ordinary Shares."

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

Form 4 regulatory

"The insider transaction is disclosed in a Form 4 filing."

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 06/23/2026 - 05:20 PM Accepted by SEC EDGAR 06/23/2026 - 05:20 PM Learn about SEC filing dates

FAQ

What did Codere Online (CDRO) director Oscar Iglesias Sanchez report on this Form 4?

He reported an open-market sale of 14,276 Ordinary Shares of Codere Online Luxembourg, S.A. The transaction occurred on June 18, 2026, and was executed at a weighted average price of $10.035 per share across multiple trades.

At what prices did the Codere Online (CDRO) director sell his shares?

The director’s sale used a weighted average price of $10.035 per share. According to the disclosure, the individual trades occurred in a range of $10.00 to $10.10 per share, reflecting several executions within that price band.

How many Codere Online (CDRO) shares does the director hold after the sale?

Following the reported transaction, director Oscar Iglesias Sanchez directly holds 104,111 Ordinary Shares of Codere Online Luxembourg, S.A. This indicates he retains a substantial ongoing ownership position in the company after selling a portion of his shares.

Was the Codere Online (CDRO) share sale a market purchase or sale transaction?

The Form 4 identifies the transaction as an open-market sale of Ordinary Shares, coded as “S.” This means the director was disposing of shares in the market, rather than acquiring additional stock or exercising derivative securities like options or warrants.

Does the Codere Online (CDRO) Form 4 mention any trading plan for this sale?

The disclosure describes the trade as an open-market sale and notes a weighted average price range. It does not reference any Rule 10b5-1 or other pre-arranged trading plan, focusing instead on the executed prices and resulting share ownership.

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Iglesias Sanchez Oscar

(Last) (First) (Middle)

7 RUE ROBERT STUMPER

(Street)

LUXEMBOURG GRAND DUCHY OF LUXEMBOURG L-2557

(City) (State) (Zip)

LUXEMBOURG

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/18/2026

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

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

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

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Ordinary Shares	06/18/2026		S		14,276	D	$10.035(1)	104,111	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported is a weighted average price. The reported securities were sold in multiple transactions at prices ranging from $10.00 to $10.10. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within such range.

	/s/ Yaiza Maria Rodriguez Robles, attorney-in-fact	06/23/2026
	** 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 4 (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 4: SEC 1474 (03-26)