Cineverse (CNVS) CSO Erick Opeka exercises RSUs and reports tax share withholding
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cineverse Corp. executive Erick Opeka, CSO and President, reported routine equity compensation activity involving restricted stock units and stock appreciation rights. On April 25, 2026, he exercised 45,833 RSUs into Class A common stock at $0.00 per share, and 45,655 shares of Class A common stock were surrendered in an F-code tax-withholding disposition at $2.39 per share to cover tax obligations, not as an open-market sale. Following these transactions, he directly owned 269,979 shares of Class A common stock and retained multiple derivative positions, including RSUs tied to 144,147 and 94,550 underlying shares and stock appreciation rights over additional shares with exercise prices of $5.80, $12.80, and $23.20 that vest over several years.
Positive
- None.
Negative
- None.
Insider Trade Summary
45,833 shares exercised/converted
Mixed
8 txns
Insider
OPEKA ERICK
Role
CSO and President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 45,833 | $0.00 | -- |
| Exercise | Class A Common Stock | 45,833 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 45,655 | $2.39 | $109K |
| 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 — 45,834 shares (Direct, null);
Class A Common Stock — 269,979 shares (Direct, null);
Stock Appreciation Right (Right to buy) — 17,750 shares (Direct, null)
Footnotes (1)
- Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 45,833 vested on April 25, 2026 and 45,834 vest on April 25, 2027. Includes 45,833 shares of restricted stock that vested on April 25, 2026 and 45,834 shares of restricted stock that 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 vest on May 1, 2026. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 31,517 vest on May 1 of each of 2026 and 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: 45,833 shares
Tax-withholding shares: 45,655 shares
Shares held after transactions: 269,979 shares
+5 more
8 metrics
RSUs exercised
45,833 shares
Restricted stock units into Class A common stock at $0.00
Tax-withholding shares
45,655 shares
Class A common stock used to cover taxes at $2.39/share
Shares held after transactions
269,979 shares
Class A common stock directly owned after April 25, 2026
RSU derivative position 1
144,147 shares
Underlying Class A shares for RSUs, exercise price $0.00
RSU derivative position 2
94,550 shares
Underlying Class A shares for RSUs, exercise price $0.00
Stock appreciation rights 1
75,000 shares at $5.80
Underlying Class A shares, expiration May 16, 2033
Stock appreciation rights 2
60,000 shares at $12.80
Underlying Class A shares, expiration December 23, 2030
Stock appreciation rights 3
17,750 shares at $23.20
Underlying Class A shares, expiration 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
"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
"Stock Appreciation Right (Right to buy) with exercise prices of 5.8000, 12.8000 and 23.2000."
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 reported with transaction code M."
Class A Common Stock financial
"Each restricted stock unit has a value equal to one share of Class A common stock."
Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.
FAQ
What insider transactions did CNVS executive Erick Opeka report on April 25, 2026?
Erick Opeka reported exercising 45,833 restricted stock units into Class A common stock and a related tax-withholding disposition of 45,655 shares. These transactions reflect routine equity compensation mechanics rather than open-market buying or selling of Cineverse Corp. shares.
Was Erick Opeka’s Cineverse Form 4 a stock sale in the open market?
The Form 4 shows an F-code tax-withholding disposition of 45,655 shares at $2.39, used to cover tax obligations. This type of transaction is not an open-market sale and does not represent discretionary selling of Cineverse Corp. shares by the executive.
What derivative awards does Erick Opeka still hold in Cineverse (CNVS)?
Opeka retains restricted stock units linked to 144,147 and 94,550 underlying Class A shares, plus stock appreciation rights over 75,000, 60,000 and 17,750 underlying shares. These rights have exercise prices of $5.80, $12.80 and $23.20 and vest across multiple future dates.
What does the M-code transaction on Erick Opeka’s Cineverse Form 4 mean?
The M-code transaction indicates Opeka exercised 45,833 restricted stock units at a $0.00 exercise price into Class A common stock. This converts a derivative award into actual shares as part of his compensation package, rather than reflecting an open-market purchase.