[Form 4] Cineverse Corp. Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction summary for Cineverse Corp. (CNVS): The reporting officer, Mark Antonio Huidor, reported a disposal and several derivative/award holdings. On 10/08/2025 he disposed of 152,561 shares of Class A common stock. Following that transaction his direct holdings include vested and unvested equity awards: a $5.8 strike stock appreciation right exercisable into 50,000 shares, and multiple restricted stock units (RSUs) and other awards totaling 382,746 Class A shares equivalent (sum of listed amounts). A newly acquired grant of 121,792 RSUs was recorded with $0 per-share price and vesting scheduled across 2026–2028. The filing shows staged vesting dates for existing awards.

Positive

• Staged vesting across multiple awards (2026–2028) aligns executive pay with multi-year performance
• Large RSU grant of 121,792 units is structured with clear vesting dates, providing retention incentive

Negative

• Immediate disposal of 152,561 Class A shares on 10/08/2025 reduced direct shareholding
• Aggregate outstanding equity awards (RSUs and SARs convertible to Class A shares) create potential dilution through 2028

Insights

Corporate Governance Expert

Officer disposed of shares while holding large scheduled equity awards.

The reporting person, an officer, reported a disposal of 152,561 Class A shares on 10/08/2025, reducing direct share ownership. At the same time, the officer retains sizeable equity compensation in the form of RSUs and a 50,000-share stock appreciation right with a $5.8 strike.

Governance implications center on alignment: staged vesting through 2028 preserves long-term incentives but the sizable contemporaneous sale may prompt investor questions about near-term liquidity needs versus confidence; monitor scheduled vesting through 2028 for future dilution and potential sales.

Compensation Analyst

Equity grants are structured with multi-year vesting, including a recent large RSU award.

Newly reported awards include 121,792 RSUs granted at $0 per unit that vest annually in 2026–2028, alongside prior RSU tranches (83,334 and 76,820) and a 50,000-share SAR with staged vesting. These awards convert to Class A shares on vesting, increasing potential share count.

From a compensation-cost perspective, the schedule spreads dilution across 2026–2028. Investors should note the aggregate number of equity units that become deliverable each year as a measurable dilution vector over the next 3 years.

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

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^*

Huidor Mark Antonio

(Last) (First) (Middle)

C/O CINEVERSE CORP.

224 W. 35TH STREET, SUITE 500, #947

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Cineverse Corp. [ CNVS ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Pres Tech/Chief Product Off

3. Date of Earliest Transaction (Month/Day/Year)
10/08/2025

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

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 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
Class A Common Stock								152,561(1)	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
Stock Appreciation Right (Right to Buy)	$5.8							(2)	05/16/2033	Class A Common Stock	50,000		50,000	D
Restricted Stock Unit	(3)							(3)	(3)	Class A Common Stock	83,334		83,334	D
Restricted Stock Unit	(4)							(4)	(4)	Class A Common Stock	76,820		76,820	D
Restricted Stock Unit	(5)	10/08/2025		A		121,792		(5)	(5)	Class A Common Stock	121,792	$0	121,792	D

Explanation of Responses:

1. Includes 83,334 shares of restricted stock that vest as follows: 41,666 vest on April 25, 2026 and 41,668 vest on April 25, 2027.

2. Of such stock appreciation rights, 16,666 vested on May 16, 2024, 16,666 vested on May 1, 2025 and 16,668 vest on May 1, 2026.

3. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 41,666 vest on April 25, 2026 and 41,668 vest on April 25, 2027.

4. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 25,607 vest on May 1 of each of 2026 and 2027 and 25,606 vest on May 1, 2028.

5. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 40,597 vest on October 8 of each of 2026 and 2027 and 40,598 vest on October 8, 2028.

	/s/ Antonio Huidor	10/10/2025
	** 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.

FAQ

What did Cineverse (CNVS) insider Mark Antonio Huidor do on 10/08/2025?

He reported a disposal of 152,561 Class A common shares on 10/08/2025.

How many restricted stock units (RSUs) did the reporting person receive?

A grant of 121,792 RSUs was recorded with a $0 per-unit price; earlier RSU tranches total 160,154 units as detailed in the filing.

Are there stock appreciation rights disclosed and what are the terms?

Yes, a Stock Appreciation Right exists with a $5.8 conversion/strike price covering 50,000 underlying Class A shares.

When do the RSUs and other awards vest?

Vesting is staged across 2026–2028; specific tranches vest on April 25, 2026, April 25, 2027, May 1, 2026, May 1, 2027, May 1, 2028, and annual October 8 vesting in 2026–2028 for one tranche.

How much dilution could these awards create?

The filing lists award totals that convert to Class A shares upon vesting: specifically 50,000 (SAR) plus multiple RSU tranches including 121,792, 83,334, and 76,820, representing a material incremental share pool to monitor through 2028.