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Cineverse (NASDAQ: CNVS) CFO to leave role, stay on as consultant

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Cineverse Corp. reported that Chief Financial Officer Mark Lindsey will leave the CFO role effective May 10, 2026. The company and Lindsey signed a Separation Letter and a Consulting Agreement to govern his departure and ongoing relationship.

Under the Separation Letter, Cineverse will continue to pay Lindsey the equivalent of his base salary for twelve months in equal monthly installments, in exchange for a broad release, confidentiality commitments, and other customary covenants. Through the Consulting Agreement, Lindsey will provide senior financial consulting services and his previously granted restricted stock units will continue to vest through the end of the consulting term, which runs until September 13, 2027.

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Insights

Cineverse structures its CFO transition with severance and a long consulting term, keeping his expertise while formalizing obligations.

The company is transitioning CFO Mark Lindsey out of his role while retaining him as a senior financial consultant until September 13, 2027. In return for a broad release and covenants, Cineverse will pay him continued base salary for twelve months and allow ongoing vesting of existing restricted stock units.

This approach can support continuity in financial oversight during the transition, since institutional knowledge remains available under contract. The impact on shareholders will depend on how effectively Cineverse manages the handover to a new CFO and utilizes Lindsey’s consulting role, as future disclosures describe successor leadership.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
CFO transition effective date May 10, 2026 Date Mark Lindsey exits Chief Financial Officer role
Severance period 12 months base salary Continued base pay in equal monthly installments
Consulting term end September 13, 2027 End date of Mark Lindsey’s consulting agreement
Agreement signing date May 21, 2026 Date Separation Letter and Consulting Agreement were signed
Separation Letter financial
"Pursuant to the Separation Letter, the Company has agreed to continue to pay Mr. Lindsey..."
Consulting Agreement financial
"Pursuant to the Consulting Agreement, Mr. Lindsey will provide certain senior financial consulting services..."
restricted stock units financial
"continued vesting, through the end of the consulting term, of restricted stock units awarded to Mr. Lindsey..."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
broad form release financial
"Under the Separation Letter, Mr. Lindsey has provided a customary broad form release and confidentiality..."
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Understanding 8-K Material Events →

 

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

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): May 21, 2026

 

 

Cineverse Corp.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-31810

22-3720962

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

224 W. 35th St.

Suite 500, #947

 

New York, New York

 

10001

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: 212 206-8600

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class

 

Trading
Symbol(s)

 


Name of each exchange on which registered

CLASS A COMMON STOCK, PAR VALUE $0.001 PER SHARE

 

CNVS

 

The Nasdaq Stock Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On April 15, 2026, Cineverse Corp. (the “Company”) announced that Mark Lindsey would transition out of the Chief Financial Officer role effective as of May 10, 2026. In connection with this transition, Mr. Lindsey and the Company have entered into a separation letter, signed on May 21, 2026 and dated as of May 8, 2026 (the “Separation Letter”) and a Consulting Agreement, signed on May 21, 2026 and dated as of May 9, 2026 (the “Consulting Agreement”).

 

Pursuant to the Separation Letter, the Company has agreed to continue to pay Mr. Lindsey the equivalent of his base pay for a period of twelve months, to be paid in equal monthly installments. Under the Separation Letter, Mr. Lindsey has provided a customary broad form release and confidentiality and other covenants to the Company.

 

Pursuant to the Consulting Agreement, Mr. Lindsey will provide certain senior financial consulting services to the Company in exchange for the continued vesting, through the end of the consulting term, of restricted stock units awarded to Mr. Lindsey during his employment with the Company. The term of the Consulting Agreement ends on September 13, 2027.

 

The foregoing descriptions of the Separation Letter and the Consulting Agreement are qualified in their entirety and incorporated herein by reference to the full text of the Separation Letter and the Consulting Agreement, copies of which are filed with this Form 8-K as Exhibits 10.1 and 10.2.

 

Item 9.01 Financial Statements and Exhibits.

 

Exhibit

Number

 

Description

10.1

Separation Letter dated as of May 8, 2026 between Cineverse Corp. and Mark Lindsey.

10.2

Consulting Agreement dated as of May 9, 2026 between Cineverse Corp. and Mark Lindsey.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

 

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

 

 

 

 

 

Date:

May 28, 2026

By:

/s/ Gary Loffredo

 

 

Name:

Title:

Gary S. Loffredo
Chief Legal Officer, Secretary and Senior Advisor

 

Source: View Original Filing on SEC EDGAR

FAQ

What CFO change did Cineverse Corp. (CNVS) disclose?

Cineverse Corp. disclosed that Chief Financial Officer Mark Lindsey will transition out of the CFO role effective May 10, 2026. He will then serve as a senior financial consultant under a separate agreement that runs through September 13, 2027, providing continuity during leadership transition.

What are the key terms of Mark Lindsey’s separation from Cineverse (CNVS)?

Under the Separation Letter, Cineverse will pay Mark Lindsey the equivalent of his base salary for twelve months in equal monthly installments. In exchange, Lindsey agreed to a broad form release, confidentiality obligations, and other customary covenants that protect the company after his departure as CFO.

How long will Mark Lindsey consult for Cineverse Corp. (CNVS)?

Mark Lindsey will provide senior financial consulting services to Cineverse until September 13, 2027, under the Consulting Agreement. During this consulting term, restricted stock units previously awarded to him during employment will continue to vest according to the agreement’s conditions and schedule.

How are Mark Lindsey’s restricted stock units treated after leaving Cineverse (CNVS)?

Under the Consulting Agreement, restricted stock units previously granted to Mark Lindsey continue to vest through the end of his consulting term. That term runs to September 13, 2027, so long as he continues providing the agreed senior financial consulting services to Cineverse Corp.

What documents govern Cineverse’s (CNVS) arrangements with outgoing CFO Mark Lindsey?

Two primary documents govern the arrangements: a Separation Letter dated as of May 8, 2026, and a Consulting Agreement dated as of May 9, 2026. Both were signed on May 21, 2026 and filed as Exhibits 10.1 and 10.2, respectively.

Filing Exhibits & Attachments

2 documents

Agreements & Contracts