Cineverse (CNVS) CPO exercises RSUs, tax-withholding shares and retains 205,165
Rhea-AI Filing Summary
Cineverse Corp. Chief People Officer Mark Torres reported compensation-related equity activity involving restricted stock units and stock appreciation rights tied to Class A common stock. On May 1, 2026, he exercised derivatives to acquire 25,607 shares of Class A common stock at an exercise price of $0.00 per share, recorded as a derivative exercise/conversion.
To cover tax obligations on this vesting, 13,941 shares of Class A common stock were disposed of at $2.62 per share through a tax-withholding disposition, which is not an open-market sale. Following these transactions, Torres directly held 205,165 shares of Class A common stock.
The filing also shows remaining derivative positions, including restricted stock units and stock appreciation rights over additional Class A common shares, with portions scheduled to vest between 2024 and 2028. These events reflect routine equity compensation mechanics rather than discretionary open-market buying or selling.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 11,666 shares
Net Buy
7 txns
Insider
Torres Mark
Role
Chief People Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 25,607 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 25,607 | $0.00 | $0.00 |
| Exercise Price or Tax Liability | Class A Common Stock | 13,941 | $2.62 | $37K |
| holding | Stock Appreciation Right (Right to buy) | -- | -- | -- |
| holding | Stock Appreciation Right (Right to buy) | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 151,310 shares (Direct);
Class A Common Stock — 191,224 shares (Direct);
Stock Appreciation Right (Right to buy) — 20,834 shares (Direct)
Footnotes (6)
- F1. Includes 33,334 shares of restricted stock that vest on April 25, 2027.
- F2. Of such stock appreciation rights, 2,778 vested on February 17 of each of 2022, 2023 and 2024.
- F3. Of such stock appreciation rights, 4,167 vest on May 16 of each of 2024, 2025 and 2026.
- F4. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 33,334 vest on April 25, 2027.
- F5. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 25,607 vested on May 1, 2026, 25,607 vest on May 1, 2027 and 25,606 vest on May 1, 2028.
- F6. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 22,254 vest on October 8 of each of 2026 and 2027 and 22,255 vest on October 8, 2028.
Key Figures
RSUs exercised: 25,607 shares
Tax-withholding shares: 13,941 shares at $2.62
Post-transaction holdings: 205,165 shares
+4 more
7 metrics
RSUs exercised
25,607 shares
Class A common stock acquired via derivative exercise on May 1, 2026
Tax-withholding shares
13,941 shares at $2.62
Shares delivered to cover tax liability on May 1, 2026
Post-transaction holdings
205,165 shares
Class A common stock directly held after transactions
RSU block vesting 2027
33,334 RSUs
Restricted stock vesting on April 25, 2027
RSUs vesting 2026-2028
25,607 / 25,607 / 25,606
RSUs vesting on May 1 of 2026, 2027 and 2028
SAR position 1
12,500 shares at $5.80
Stock appreciation rights expiring May 16, 2033
SAR position 2
8,334 shares at $39.40
Stock appreciation rights expiring February 17, 2031
Key Terms
Restricted Stock Unit, Stock Appreciation Right, tax-withholding disposition, derivative exercise/conversion
4 terms
Restricted Stock Unit financial
"Each restricted stock unit has a value equal to one share of Class A common stock."
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
Stock Appreciation Right financial
"Of such stock appreciation rights, 4,167 vest on May 16 of each of 2024, 2025 and 2026."
A stock appreciation right (SAR) is a form of employee pay that gives the holder the right to receive the increase in a company's share price over a set reference price, paid in cash or shares, without having to buy stock first. It matters to investors because SARs can create future cash outflows or dilute existing shareholders if settled in stock, and they align employee incentives with share-price performance like a bonus tied to a home's price rise.
tax-withholding disposition financial
"Payment of exercise price or tax liability by delivering securities"
A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.
derivative exercise/conversion financial
"Exercise or conversion of derivative security"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Cineverse (CNVS) executive Mark Torres report in this Form 4?
Mark Torres reported routine equity compensation activity, exercising derivatives to acquire 25,607 Class A shares and a related tax-withholding disposition of 13,941 shares, leaving him with 205,165 directly held shares after the transactions.
What restricted stock unit activity is disclosed for Cineverse (CNVS) in this filing?
The filing shows a derivative exercise of 25,607 restricted stock units into Class A common shares and remaining RSU positions, including blocks where 33,334 RSUs vest on April 25, 2027 and additional tranches vest annually from 2026 through 2028.
What stock appreciation rights does Mark Torres retain in Cineverse (CNVS)?
He retains stock appreciation rights over 12,500 underlying Class A shares at a $5.80 exercise price expiring May 16, 2033, and 8,334 underlying shares at a $39.40 exercise price expiring February 17, 2031, as disclosed in the derivative position summary.
What does the tax-withholding disposition mean in the Cineverse (CNVS) Form 4?
The tax-withholding disposition reflects 13,941 Class A shares delivered at $2.62 per share to satisfy tax obligations from vested equity awards. It is a mechanical settlement method and not a voluntary open-market sale decision by the executive.