Cinemark (CNK) director updates trust holdings and sells 85,229 shares
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.
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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.
How many Cinemark (CNK) shares were recently sold by the reporting person?
On November 21, 2024, the family trust associated with the director sold 85,229 shares of Cinemark common stock at a weighted average price of $32.38 per share.
Was the recent Cinemark (CNK) share sale under a Rule 10b5-1 trading plan?
Yes. The sale of 85,229 Cinemark shares was executed pursuant to a Rule 10b5-1 trading plan that the reporting person adopted on August 22, 2024.
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.
How many Cinemark (CNK) shares does the director now hold directly?
Following the corrected transactions and the November 21, 2024 sale, the director directly owns 7,364 shares of Cinemark common stock.
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.