[Form 4] Cineverse Corp. Insider Trading Activity

Rhea-AI Filing Summary

Mark W. Lindsey, Chief Financial Officer of Cineverse Corp. (CNVS) reported changes in his holdings on 10/08/2025. The filing shows a disposition of 119,168 shares of Class A common stock, leaving him with several categories of equity awards: outstanding stock appreciation rights exercisable at $11.95 covering 20,000 underlying shares, and multiple restricted stock units (RSUs) and a separate RSU grant that together total 209,175 underlying Class A shares across different vesting schedules. One RSU tranche of 70,809 shares was reported as acquired on 10/08/2025 at $0 (i.e., newly granted).

The disclosure itemizes vesting timelines: portions of RSUs vest in 2026, 2027, and 2028, and SAR vesting dates include 11/14/2023 through 11/14/2025. The mix of a cashless/zero-price grant and multi-year vesting schedules indicates continued equity compensation tied to future service.

Positive

• Retention‑focused compensation with RSUs vesting across 2026–2028
• SARs provide upside alignment with a $11.95 exercise price on 20,000 underlying shares
• New RSU grant of 70,809 shares links CFO pay to future performance and tenure

Negative

• Immediate disposition of 119,168 Class A shares reduces direct insider ownership
• Potential near‑term dilution from cumulative RSUs totaling over 200,000 shares as they vest

Insights

Corporate Governance Analyst

TL;DR: CFO sold a block of shares while retaining multi‑year vested awards.

The reported disposition of 119,168 Class A shares reduces direct share holdings but the CFO still holds long‑dated equity via RSUs totaling over 200,000 shares and 20,000 SARs exercisable at $11.95. These awards vest across 2026–2028, keeping executive economic exposure linked to future company performance.

Key dependencies include future vesting and stock price performance relative to the SAR strike. Monitor scheduled vesting dates in 2026–2028 for potential future dilution or sales.

Compensation & Equity Specialist

TL;DR: Equity grants combine immediate zero‑price RSUs and time‑based SARs to retain incentives.

The mix of a zero‑price RSU grant of 70,809 shares and previously awarded RSUs with staggered vesting spreads compensation over multiple years, aligning pay with retention. The SARs with a $11.95 strike on 20,000 shares add upside exposure if the share price rises above that level.

Risks include potential dilution when RSUs vest and exercise of SARs; watch vesting milestones on 04/25/2026, 09/23/2026, and 10/08/2026.

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
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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^*

Lindsey Mark Wayne

(Last) (First) (Middle)

C/O CINEVERSE CORP.

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

(Street)

NEW YORK NY 10001

(City) (State) (Zip)

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)
	CFO

3. Date of Earliest Transaction (Month/Day/Year)
10/08/2025

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

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

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

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								119,168(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)	$11.95							(2)	11/14/2032	Class A Common Stock	20,000		20,000	D
Restricted Stock Unit	(3)							(3)	(3)	Class A Common Stock	66,667		66,667	D
Restricted Stock Unit	(4)							(4)	(4)	Class A Common Stock	71,699		71,699	D
Restricted Stock Unit	(5)	10/08/2025		A		70,809		(5)	(5)	Class A Common Stock	70,809	$0	70,809	D

Explanation of Responses:

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.

2. Of such stock appreciation rights, 6,667 vest on November 14, 2023, 6,667 vest on November 14, 2024, and 6,666 vest on November 14, 2025.

3. 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 of 2026 and 33,334 vest on April 25, 2027.

4. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 23,900 vest on September 23 of each of 2026 and 2027 and 23,899 vest on September 23, 2028.

5. Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 23,603 vest on October 8 of each of 2026, 2027 and 2028.

	/s/ Mark W. Lindsey	10/10/2025
	** 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).
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FAQ

What did Cineverse CFO Mark W. Lindsey report on Form 4 (CNVS)?

He reported a disposition of 119,168 Class A shares and holdings including 20,000 SARs at a $11.95 strike and multiple RSU awards totaling over 200,000 underlying shares.

How many shares were disposed and when (CNVS)?

The filing shows a reported disposition of 119,168 shares with a transaction date of 10/08/2025.

What equity awards does the CFO still hold after the transaction?

He holds 20,000 SARs exercisable at $11.95, and multiple RSU tranches including a 70,809 share RSU granted on 10/08/2025, plus other RSUs vesting in 2026–2028

When do the RSUs and SARs vest (key dates)?

Vesting dates include 11/14/2023–11/14/2025 for SAR tranches and RSU vesting on 04/25/2026, 09/23/2026, 10/08/2026, and later in 2027–2028 as specified.

Does the Form 4 show the price paid for the newly granted RSUs?

Yes; the RSU grant of 70,809 shares is reported at $0, indicating a standard restricted stock unit grant rather than a purchased award.