Cinemark (CNK) director updates trust holdings and sells 85,229 shares
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cinemark Holdings, Inc. director reported a series of historical ownership corrections and trust transfers, along with a recent stock sale. The filing shows multiple past acquisitions and dispositions of common stock being reclassified from direct ownership to indirect ownership through a family trust where the director serves as trustee, with several transfers made for no consideration.
The most recent transaction on November 21, 2024 records the sale of 85,229 shares of Cinemark common stock by the family trust at a weighted average price of $32.38 per share, executed under a Rule 10b5-1 trading plan adopted on August 22, 2024. After these updates, the director directly holds 7,364 shares of Cinemark common stock, with additional shares held indirectly through the family trust and a joint account with a daughter.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 37,229 shares ($2,792,055)
Net Sell
24 txns
Insider
Zoradi Mark
Role
Director
Bought
50,000 shs ($1.08M)
Sold
87,229 shs ($2.79M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 85,229 | $32.38 | $2.76M |
| Gift | Common Stock | 16,273 | $0.00 | -- |
| Gift | Common Stock | 16,273 | $0.00 | -- |
| Gift | Common Stock | 358,161 | $0.00 | -- |
| Gift | Common Stock | 358,161 | $0.00 | -- |
| Gift | Common Stock | 25,557 | $0.00 | -- |
| Gift | Common Stock | 25,557 | $0.00 | -- |
| Sale | Common Stock | 2,000 | $16.17 | $32K |
| Purchase | Common Stock | 20,000 | $10.58 | $212K |
| Purchase | Common Stock | 5,000 | $25.38 | $127K |
| Purchase | Common Stock | 5,000 | $25.45 | $127K |
| Purchase | Common Stock | 10,000 | $28.77 | $288K |
| Gift | Common Stock | 54,710 | $0.00 | -- |
| Gift | Common Stock | 54,710 | $0.00 | -- |
| Gift | Common Stock | 4,712 | $0.00 | -- |
| Gift | Common Stock | 4,712 | $0.00 | -- |
| Gift | Common Stock | 10,504 | $0.00 | -- |
| Gift | Common Stock | 10,504 | $0.00 | -- |
| Purchase | Common Stock | 5,000 | $32.19 | $161K |
| Purchase | Common Stock | 5,000 | $32.83 | $164K |
| Gift | Common Stock | 1,920 | $0.00 | -- |
| Gift | Common Stock | 1,920 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 436,608 shares (Indirect, By Family Trust);
Common Stock — 7,364 shares (Direct)
Footnotes (1)
- On June 15, 2016, the reporting person transferred 1,920 shares of common stock of Cinemark Holdings, Inc. (the "issuer) to the family trust for which the reporting person is a trustee for no consideration. On August 29, 2017, the reporting person filed a Form 4 that incorrectly reported the acquisition of 5,000 shares of common stock of the Issuer as a direct acquisition. As corrected on this Form 4, such acquisition was through a family trust for which the reporting person serves as a trustee rather than a direct acquisition. Following such transaction, the reporting person beneficially owned 158,536 shares of the Issuer's common stock directly and beneficially owned 8,920 shares of the Issuer's common stock indirectly through a family trust for which the reporting person is a trustee. On September 11, 2017, the reporting person filed a Form 4 that incorrectly reported the acquisition of 5,000 shares of common stock of the Issuer as a direct acquisition. As corrected on this Form 4, such acquisition was through a family trust for which the reporting person serves as a trustee rather than a direct acquisition. Following such transaction, the reporting person beneficially owned 158,536 shares of the Issuer's common stock directly and beneficially owned 13,920 shares of the Issuer's common stock indirectly through a family trust for which the reporting person is a trustee. On February 19, 2018, the reporting person transferred 10,504 shares of common stock of the Issuer to the family trust for which the reporting person is a trustee for no consideration. On February 14, 2019, the reporting person transferred 4,712 shares of common stock of the Issuer to the family trust for which the reporting person is a trustee for no consideration. On February 19, 2020, the reporting person transferred 54,710 shares of common stock of the Issuer to the family trust for which the reporting person is a trustee for no consideration. On February 27, 2020, the reporting person filed a Form 4 that incorrectly reported the acquisition of 10,000 shares of common stock of the Issuer as a direct acquisition. As corrected on this Form 4, such acquisition was through a family trust for which the reporting person serves as a trustee rather than a direct acquisition. Following such transaction, the reporting person beneficially owned 483,766 shares of the Issuer's common stock directly and beneficially owned 93,846 shares of the Issuer's common stock indirectly through a family trust for which the reporting person is a trustee. On February 27, 2020, the reporting person filed a Form 4 that incorrectly reported the acquisition of 5,000 shares of common stock of the Issuer as a direct acquisition. As corrected on this Form 4, such acquisition was through a family trust for which the reporting person serves as a trustee rather than a direct acquisition. Following such transaction, the reporting person beneficially owned 483,767 shares of the Issuer's common stock directly and beneficially owned 98,846 shares of the Issuer's common stock indirectly through a family trust for which the reporting person is a trustee. On February 27, 2020, the reporting person filed a Form 4 that incorrectly reported the acquisition of 5,000 shares of common stock of the Issuer as a direct acquisition. As corrected on this Form 4, such acquisition was through a family trust for which the reporting person serves as a trustee rather than a direct acquisition. Following such transaction, the reporting person beneficially owned 483,767 shares of the Issuer's common stock directly and beneficially owned 103,846 shares of the Issuer's common stock indirectly through a family trust for which the reporting person is a trustee. On March 18, 2020, the reporting person filed a Form 4 that incorrectly reported the acquisition of 20,000 shares of common stock of the Issuer as a direct acquisition. As corrected on this Form 4, such acquisition was through a family trust for which the reporting person serves as a trustee rather than a direct acquisition. Following such transaction, the reporting person beneficially owned 483,767 shares of the Issuer's common stock directly and beneficially owned 123,846 shares of the Issuer's common stock indirectly through a family trust for which the reporting person is a trustee. On December 15, 2020, the reporting person filed a Form 4 that incorrectly reported the disposition of 2,000 shares of common stock of the Issuer as a direct disposition. As corrected on this Form 4, such disposition was through a family trust for which the reporting person serves as a trustee rather than a direct disposition. Following such transaction, the reporting person beneficially owned 513,658 shares of common stock of the Issuer directly and beneficially owned 121,846 shares of common stock of the issuer indirectly through a family trust for which the reporting person is a trustee. On December 15, 2020, the reporting person transferred 25,557 shares of common stock of the Issuer to the family trust for which the reporting person is a trustee for no consideration. On January 13, 2022, the reporting person transferred 358,161 shares of common stock of the Issuer to the family trust for which the reporting person is a trustee for no consideration. On July 22, 2024, the reporting person transferred 16,273 shares of common stock of the Issuer to the family trust for which the reporting person is a trustee for no consideration. On November 22, 2024, the reporting person filed a Form 4 that incorrectly reported the disposition of 85,229 shares of common stock of the Issuer as a direct disposition. As corrected on this Form 4, such disposition was through a family trust for which the reporting person serves as a trustee rather than a direct disposition. Following such transaction, the reporting person beneficially owned 7,364 shares of common stock of the Issuer directly and beneficially owned 436,607 shares of common stock of the Issuer indirectly through a family trust for which the reporting person is a trustee. The price reported in Column 4 is the weighted average price. These shares were sold in multiple transactions at prices ranging from $31.89 to $32.82, inclusive. 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 pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 22, 2024.
FAQ
What insider activity did Cinemark (CNK) report in this Form 4?
The filing reports multiple historical corrections and reclassifications of Cinemark common stock between direct ownership and a family trust, as well as a recent sale of shares by the family trust and the director’s updated direct and indirect holdings.
What corrections to prior insider reports does this Cinemark (CNK) filing make?
The filing corrects earlier reports that had shown several acquisitions and dispositions of Cinemark common stock as direct transactions. It clarifies that these were actually conducted through a family trust where the reporting person is trustee.
What role does the family trust play in the Cinemark (CNK) insider holdings?
The family trust is a key vehicle for the director’s indirect ownership. Multiple transfers of Cinemark common stock were made to the trust for no consideration, and several acquisitions and dispositions originally reported as direct are clarified as occurring through this trust.
Are any derivative securities reported in this Cinemark (CNK) Form 4?
The section for derivative securities is included, but the provided excerpt does not list specific derivative transactions; the detailed activity disclosed relates to non-derivative common stock.