Cineverse (NASDAQ: CNVS) CLO exercises RSUs with 33,052 shares withheld for tax
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Cineverse Corp. chief legal officer Gary S. Loffredo reported compensation-related equity activity. He exercised 33,333 restricted stock units into Class A common stock and had 33,052 shares of Class A common stock withheld to cover tax obligations. Following these transactions, he directly owns 233,670 shares of Class A common stock. He also continues to hold a substantial package of equity awards, including restricted stock units tied to 130,289 and 76,820 underlying shares and stock appreciation rights over 40,000, 60,000, and 20,380 underlying shares at exercise prices of $5.80, $12.80, and $29.40.
Positive
- None.
Negative
- None.
Insider Trade Summary
33,333 shares exercised/converted
Mixed
8 txns
Insider
LOFFREDO GARY S
Role
CLO, Secretary and Sr Advisor
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Unit | 33,333 | $0.00 | -- |
| Exercise | Class A Common Stock | 33,333 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 33,052 | $2.39 | $79K |
| 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 — 33,334 shares (Direct, null);
Class A Common Stock — 233,670 shares (Direct, null);
Stock Appreciation Right (Right to buy) — 20,380 shares (Direct, null)
Footnotes (1)
- Each restricted stock unit has a value equal to one share of Class A common stock. Of such RSUs, 33,333 vested on April 25, 2026 and 33,334 vest on April 25, 2027. Includes 33,333 shares of restricted stock that vested on April 25, 2026 and 33,334 shares of restricted stock that vest on April 25, 2027. One-third of the stock appreciation rights vested on December 10 of each of 2019, 2020 and 2021. Of such SARs, 25,000 vested on March 31, 2022, 25,000, vested on March 31, 2023 and 10,000 vested on June 30, 2023. Of such stock appreciation rights, 13,333 vest on May 16, 2024, 13,333 vest on May 1, 2025 and 13,334 vest on May 1, 2026. 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 each 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, 43,430 vest on October 8 of each of 2026 and 2027 and 43,429 vest on October 8, 2028.
Key Figures
RSUs exercised: 33,333 shares
Tax-withholding shares: 33,052 shares at $2.39
Common shares held: 233,670 shares
+5 more
8 metrics
RSUs exercised
33,333 shares
Restricted stock units converted into Class A common stock on April 25, 2026
Tax-withholding shares
33,052 shares at $2.39
Shares of Class A common stock withheld to satisfy tax liability
Common shares held
233,670 shares
Direct Class A common stock holdings after reported transactions
RSU underlying shares (grant 1)
130,289 shares
Restricted stock units with value equal to one Class A share each
RSU underlying shares (grant 2)
76,820 shares
Additional restricted stock units outstanding
SARs at $5.80
40,000 underlying shares
Stock appreciation rights expiring May 16, 2033 at $5.80 exercise price
SARs at $12.80
60,000 underlying shares
Stock appreciation rights expiring December 23, 2030 at $12.80 exercise price
SARs at $29.40
20,380 underlying shares
Stock appreciation rights expiring December 10, 2028 at $29.40 exercise price
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 29.4000."
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."
underlying security financial
"underlying security title: Class A Common Stock and underlying security shares values."
FAQ
What insider transactions did CNVS executive Gary Loffredo report?
Gary S. Loffredo reported exercising 33,333 restricted stock units into Class A common stock and a related tax-withholding disposition of 33,052 shares. These moves are compensation-related mechanics rather than open-market buying or selling.
What restricted stock units does CNVS executive Gary Loffredo still hold?
Loffredo continues to hold restricted stock units linked to 130,289 and 76,820 underlying Class A shares. Footnotes state these RSUs vest in tranches between 2026 and 2028, each unit having the value of one common share.
What stock appreciation rights are disclosed for Cineverse (CNVS) executive Gary Loffredo?
He holds stock appreciation rights over 40,000, 60,000, and 20,380 underlying Class A shares, with exercise prices of $5.80, $12.80, and $29.40. These rights have expiration dates in 2028, 2030, and 2033.
How many RSUs vested for CNVS executive Gary Loffredo on April 25, 2026?
Footnotes state that 33,333 restricted stock units vested on April 25, 2026, with another 33,334 scheduled to vest on April 25, 2027. Each restricted stock unit has the value of one share of Class A common stock.