CNVS insider report: 305,253 RSU exposure and 55,000 SARs held
Rhea-AI Filing Summary
Insider transfer reported by Cineverse Corp. officer Yolanda Macias. The filing shows Ms. Macias holds 93,949 Class A shares indirectly and reports a disposition of 93,949 Class A shares plus an indirect 146 share holding for a minor child. She also holds multiple equity awards: two stock appreciation rights covering 30,000 and 25,000 shares with exercise prices of $12.8 and $5.8, and restricted stock units (RSUs) totaling 305,253 underlying Class A shares across several grants. A grant of 79,879 RSUs was reported as acquired on 10/08/2025 with $0 price; portions of RSUs vest annually through 10/08/2028 and other grants vest through 05/01/2028 and 04/25/2027.
Positive
- Large multi‑year RSU package (totaling 305,253 underlying shares) aligns officer incentives with long‑term performance
- Stock appreciation rights include staggered vesting, promoting retention through 2026–2027
Negative
- Disposition of 93,949 Class A shares reduced the officer's direct shareholdings, which may lower short‑term insider ownership
- Potential dilution from 305,253 RSUs and 55,000 SARs if fully vested and settled
Insights
Officer reported large RSU grant and sizable option holdings; disposition reduces direct share ownership.
The report discloses a disposition of 93,949 Class A shares while the officer retains substantial equity via RSUs (totaling 305,253 underlying shares) and stock appreciation rights (totaling 55,000 shares). Equity compensation is concentrated in time‑based vesting schedules extending to 10/08/2028, aligning officer incentives with multi‑year retention.
Key dependencies include vesting schedules and exercise prices ($12.8 and $5.8) which determine potential future dilution and realized gains if exercised; monitor vesting dates through 2028 for material changes to ownership.
New RSU grant increases potential outstanding Class A shares if vested and settled.
The reported 79,879 RSU grant issued on 10/08/2025 is recorded at $0 price with scheduled vesting in equal annual tranches, adding to prior RSU pools that vest through 2028. If all awards vest, they convert to Class A common stock and may increase share count and dilution.
Watch the timing of vesting tranches and any future exercises of the 55,000 stock appreciation rights to assess near‑term dilution impact; upcoming vest dates in 2026 and 2027 are the nearest milestones.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 79,879 | $0.00 | -- |
| holding | Stock Appreciation Right (Right to buy) | -- | -- | -- |
| holding | Stock Appreciaiton Right (Right to buy) | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Restricted Stock Unit | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Includes 66,667 shares of restricted stock that vest as follows: 33,333 vest on April 25, 2026 and 33,334 vest on April 25, 2027. Of such stock appreciation rights, 15,000 vested on March 31, of each of 2022 and 2023. Of such stock appreciation rights, 8,333 vest on May 16 of each of 2024, 2025 and 2026. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 33,333 vest on April 25, 2026 and 33,334 vest on April 25, 2027. 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 2026 and 2027 and 25,606 vest on May 1, 2028. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 25,626 vest on October 8 of each of 2026 and 2027 and 25,627 vest on October 8, 2028.
