Cineverse (NASDAQ: CNVS) CSO Opeka exercises 31,517 RSUs and has shares withheld for taxes

Rhea-AI Filing Summary

Cineverse Corp. CSO and President Erick Opeka reported equity compensation activity involving restricted stock units and stock appreciation rights. On May 1, 2026, he exercised 31,517 restricted stock units, reflected as a derivative exercise at an exercise price of $0.00 per unit, converting them into Class A common stock. A separate entry shows an F-code tax-withholding disposition of 13,832 shares of Class A common stock at $2.62 per share to satisfy tax obligations, not as an open-market sale.

After these transactions, Opeka directly held 255,841 shares of Class A common stock. He also retained multiple derivative positions, including restricted stock units covering 144,147 and 45,833 underlying Class A shares, and stock appreciation rights over 75,000, 60,000, and 17,750 underlying shares at exercise prices of $5.80, $12.80, and $23.20 respectively, with expirations extending to 2033.

Insights

Equity compensation analyst

Routine RSU vesting and tax withholding; insider retains a sizable equity stake.

Erick Opeka, CSO and President of Cineverse Corp., reported an M-code exercise of 31,517 restricted stock units at an exercise price of $0.00 per unit. This represents equity compensation vesting rather than an open-market purchase.

The filing also shows an F-code disposition of 13,832 Class A shares at $2.62 per share for tax obligations, which is not a discretionary sale. Following the transactions, Opeka directly held 255,841 common shares and maintained significant derivative exposure through restricted stock units and stock appreciation rights extending to 2033.

Overall, the activity appears routine for executive compensation, with no open-market buying or selling reported in this filing. The key takeaway is that Opeka continues to have substantial aligned exposure to Cineverse equity through both common shares and long-dated derivative awards.

Insider Trade Summary

31,517 shares exercised/converted

Mixed 8 txns

Insider OPEKA ERICK

Role CSO and President

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit	31,517	$0.00	--
Exercise	Class A Common Stock	31,517	$0.00	--
Tax Withholding	Class A Common Stock	13,832	$2.62	$36K
holding	Stock Appreciation Right (Right to buy)	--	--	--
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 — 63,033 shares (Direct, null); Class A Common Stock — 255,841 shares (Direct, null); Stock Appreciation Right (Right to buy) — 17,750 shares (Direct, null)

Footnotes (1)

1. Includes 45,834 shares of restricted stock that vest on vest on April 25, 2027. One-third of the stock appreciation rights vested on March 31 of each of 2019, 2020 and 2021. Of such stock appreciation rights, 25,000 vested on March 31, 2022, 25,000 vested on March 31, 2023 and 10,000 vested on December 31, 2023. Of such stock appreciation rights, 25,000 vested on May 16, 2024, 25,000 vested on May 1, 2025 and 25,000 vested on May 1, 2026. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 45,834 vest on April 25, 2027. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 31,517 vested on May 1, 2026, 31,517 vest on May 1, 2027 and 31,516 vest on May 1, 2028. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 48,049 vest on October 8 of each of 2026, 2027 and 2028.

Key Figures

RSUs exercised: 31,517 units at $0.00 Tax-withholding shares: 13,832 shares at $2.62 Common shares held: 255,841 shares +3 more

6 metrics

RSUs exercised 31,517 units at $0.00 Derivative exercise of restricted stock units on May 1, 2026

Tax-withholding shares 13,832 shares at $2.62 F-code tax-withholding disposition of Class A common stock

Common shares held 255,841 shares Direct Class A common stock holdings after transactions

RSU derivatives 144,147 and 45,833 shares Underlying Class A shares for remaining restricted stock units

SARs at $5.80 75,000 shares Stock appreciation rights expiring May 16, 2033

SARs at $12.80 and $23.20 60,000 and 17,750 shares Stock appreciation rights expiring December 23, 2030 and September 28, 2028

Key Terms

Restricted Stock Unit, Stock Appreciation Right, tax-withholding disposition, derivative exercise/conversion, +1 more

5 terms

Restricted Stock Unit financial

"security_title": "Restricted Stock Unit""

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 (Right to buy)""

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

"transaction_action": "tax-withholding disposition""

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

"transaction_action": "derivative exercise/conversion""

exercise price financial

"conversion_or_exercise_price": "5.8000""

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
hours per response:			0.5

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^*

OPEKA ERICK

(Last) (First) (Middle)

C/O CINEVERSE CORP.

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

(Street)

NEW YORK NEW YORK 10001

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	CSO and President

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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

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	05/01/2026		M		31,517	A	(6)	255,841(1)	D
Class A Common Stock	05/01/2026		F		13,832	D	$2.62	242,009(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)	$23.2							(2)	09/28/2028	Class A Common Stock	17,750		17,750	D
Stock Appreciation Right (Right to buy)	$12.8							(3)	12/23/2030	Class A Common Stock	60,000		60,000	D
Stock Appreciation Right (Right to buy)	$5.8							(4)	05/16/2033	Class A Common Stock	75,000		75,000	D
Restricted Stock Unit	(5)							(5)	(5)	Class A Common Stock	45,833		45,834	D
Restricted Stock Unit	(6)	05/01/2026		M			31,517	(6)	(6)	Class A Common Stock	31,517	$0	63,033	D
Restricted Stock Unit	(7)							(7)	(7)	Class A Common Stock	144,147		144,147	D

Explanation of Responses:

1. Includes 45,834 shares of restricted stock that vest on vest on April 25, 2027.

2. One-third of the stock appreciation rights vested on March 31 of each of 2019, 2020 and 2021.

3. Of such stock appreciation rights, 25,000 vested on March 31, 2022, 25,000 vested on March 31, 2023 and 10,000 vested on December 31, 2023.

4. Of such stock appreciation rights, 25,000 vested on May 16, 2024, 25,000 vested on May 1, 2025 and 25,000 vested on May 1, 2026.

5. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 45,834 vest on April 25, 2027.

6. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 31,517 vested on May 1, 2026, 31,517 vest on May 1, 2027 and 31,516 vest on May 1, 2028.

7. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 48,049 vest on October 8 of each of 2026, 2027 and 2028.

	/s/ Erick Opeka	05/05/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Cineverse (CNVS) report for Erick Opeka?

Erick Opeka reported a derivative exercise of 31,517 restricted stock units at $0.00 per unit and a separate F-code tax-withholding disposition of 13,832 Class A common shares at $2.62 per share on May 1, 2026.

Did Cineverse (CNVS) executive Erick Opeka sell shares on the open market?

The filing shows an F-code tax-withholding disposition of 13,832 shares at $2.62, used to pay tax obligations. This disposition is not categorized as an open-market sale, and no open-market buy or sell transactions are reported in this Form 4.

How many Cineverse (CNVS) shares does Erick Opeka hold after this Form 4?

After the reported transactions, Erick Opeka directly held 255,841 shares of Cineverse Class A common stock. This direct holding is in addition to his remaining restricted stock units and stock appreciation rights over multiple tranches of underlying Class A shares.

What derivative awards does Erick Opeka retain in Cineverse (CNVS)?

Opeka retains restricted stock units tied to 144,147 and 45,833 underlying Class A shares, plus stock appreciation rights over 75,000, 60,000, and 17,750 shares at exercise prices of $5.80, $12.80, and $23.20, expiring through 2033.

When do key Cineverse (CNVS) RSUs for Erick Opeka vest?

Footnotes indicate 31,517 restricted stock units vested on May 1, 2026, with additional RSUs vesting on May 1, 2027, May 1, 2028, and October 8 of 2026, 2027, and 2028, as part of Opeka’s ongoing equity compensation schedules.

What is the significance of the M and F codes in this Cineverse (CNVS) Form 4?

The M code reflects a derivative exercise of 31,517 RSUs into common shares at $0.00 per unit, while the F code represents 13,832 shares withheld at $2.62 per share to cover tax obligations, not a traditional market sale.