Cineverse (CNVS) CEO exercises 40,000 RSUs and updates equity stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cineverse Corp. director, CEO and Chairman Christopher J. McGurk reported an update to his equity holdings, including an option-style transaction. He exercised derivative securities labeled as restricted stock units to acquire 40,000 shares of Class A common stock at a stated price of $0.0000 per share, increasing his direct ownership of common stock to 582,519 shares.
He also reports 178,526 shares of Class A common stock held indirectly through the Christopher and Jamie McGurk Living Trust, where he serves as trustee. In addition, he continues to hold several derivative awards tied to Class A common stock, including restricted stock units covering 263,006 and 50,000 underlying shares and stock appreciation rights over 125,000, 125,000 and 35,000 underlying shares at exercise prices of $9.60, $10.80 and $29.40 with stated vesting and expiration schedules.
Positive
- None.
Negative
- None.
Insider Trade Summary
40,000 shares exercised/converted
Mixed
8 txns
Insider
MCGURK CHRISTOPHER J
Role
CEO and Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 40,000 | $0.00 | -- |
| Exercise | Class A Common Stock | 40,000 | $0.00 | -- |
| holding | Stock Appreciation Right | -- | -- | -- |
| holding | Stock Appreciation Right | -- | -- | -- |
| holding | Stock Appreciation Right | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Unit — 80,000 shares (Direct, null);
Class A Common Stock — 582,519 shares (Direct, null);
Stock Appreciation Right — 35,000 shares (Direct, null);
Class A Common Stock — 178,526 shares (Indirect, By Christopher and Jamie McGurk Living Trust)
Footnotes (1)
- Includes 50,000 shares of restricted stock that vest on April 25, 2027. The reporting person is a trustee of the Christopher and Jamie McGurk Living Trust. One-third of the stock appreciation rights vested on March 31 of each of 2019, 2020 and 2021. 62,500 of the stock appreciation rights vested on November 19, 2020 and 62,500 of the stock appreciation rights vested on March 31, 2023. Of the stock appreciation rights, 41,666 vested on April 1, 2023, 41,666 vested on April 1, 2024 and 41,668 vested on April 1, 2025. 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, 2027. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 40,000 vested on May 1, 2026, and 40,000 vest on May 1 of each of 2027 and 2028. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 87,669 vest on October 8 of each of 2026 and 2027 and 87,668 vest on October 8, 2028.
Key Figures
RSUs exercised: 40,000 shares
Direct common stock holding: 582,519 shares
Indirect trust holding: 178,526 shares
+5 more
8 metrics
RSUs exercised
40,000 shares
Restricted stock units converted into Class A common stock on May 1, 2026
Direct common stock holding
582,519 shares
Class A common stock directly owned following the derivative exercise
Indirect trust holding
178,526 shares
Class A common stock held by Christopher and Jamie McGurk Living Trust
RSU position 1
263,006 underlying shares
Restricted stock units, each equal to one Class A share
RSU position 2
50,000 underlying shares
Restricted stock units vesting including 50,000 shares on April 25, 2027
SARs at $9.60
125,000 underlying shares
Stock appreciation rights with $9.60 exercise price, expiring October 17, 2032
SARs at $10.80
125,000 underlying shares
Stock appreciation rights with $10.80 exercise price, expiring November 19, 2030
SARs at $29.40
35,000 underlying shares
Stock appreciation rights with $29.40 exercise price, expiring June 7, 2028
Key Terms
Restricted Stock Unit, Stock Appreciation Right, derivative security, indirect ownership
4 terms
Restricted Stock Unit financial
"security_title: "Restricted Stock Unit" and footnotes stating each unit equals 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
"security_title: "Stock Appreciation Right" with exercise prices of 9.6000, 10.8000 and 29.4000 and stated expiration dates."
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.
derivative security financial
"transaction_code_description: "Exercise or conversion of derivative security" for the M‑coded transactions."
A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.
indirect ownership financial
"direct_or_indirect: "I" and nature_of_ownership: "By Christopher and Jamie McGurk Living Trust"."
FAQ
What insider transaction did Cineverse (CNVS) disclose for CEO Christopher McGurk?
Cineverse disclosed that CEO Christopher J. McGurk exercised derivative securities classified as restricted stock units to acquire 40,000 shares of Class A common stock at a stated price of $0.0000 per share, increasing his directly held common stock position reported in this filing.
What indirect Cineverse (CNVS) holdings are reported through the McGurk trust?
The filing shows 178,526 shares of Cineverse Class A common stock held indirectly through the Christopher and Jamie McGurk Living Trust. A footnote states that McGurk is a trustee of this trust, providing additional context for the indirect ownership classification.
What restricted stock units does the Cineverse (CNVS) CEO still hold?
The filing lists restricted stock units tied to 263,006 and 50,000 underlying shares of Cineverse Class A common stock. Footnotes explain that each unit equals one share, with portions vesting on dates such as October 8, 2026–2028 and April 25, 2027, among others.
What stock appreciation rights are outstanding for the Cineverse (CNVS) CEO?
McGurk holds stock appreciation rights over 125,000 shares at a $9.60 exercise price, 125,000 shares at $10.80, and 35,000 shares at $29.40. Footnotes describe prior vesting installments and list expiration dates extending to 2028, 2030, and 2032.