CRWV Form 4: 625k Class B Conversions and Multiple Class A Sales Reported
Rhea-AI Filing Summary
CoreWeave officer McBee reported multiple transactions on 09/23/2025 involving both Class A and Class B common stock. The filing shows conversions of 250,000 and 375,000 shares of Class B into Class A, and a series of sales under a Rule 10b5-1 plan that disposed of many Class A shares in tranches priced between about $127.17 and $136.00 per share.
The reporting person holds direct and indirect interests through the Brannin J. McBee 2022 Irrevocable Trust and several family trusts; some shares remain indirectly held for family trusts. The Form 4 was signed by an attorney-in-fact on 09/25/2025 and discloses that the sales were effected pursuant to a 10b5-1 trading plan adopted May 20, 2025.
Positive
- Sales conducted under a Rule 10b5-1 plan, indicating preplanned, pre-authorized dispositions rather than ad-hoc insider trades
- Detailed disclosure of indirect holdings via trusts clarifies ownership and governance relationships
Negative
- Large number of Class A shares sold in multiple tranches (weighted-average prices between $127.17 and $136.00), which could increase available float
- Significant conversion of Class B to Class A (625,000 shares converted), potentially affecting class share composition
Insights
TL;DR: Officer conversions and scheduled sales under a 10b5-1 plan indicate planned liquidity, not an unscheduled insider dump.
The Form 4 discloses conversion of Class B to Class A and multiple sales executed under a Rule 10b5-1 plan adopted May 20, 2025. That plan date is explicit in the filing, which typically signals prearranged disposition rather than opportunistic trading. The filing also details the complex ownership structure through several trusts and family entities, clarifying which holdings are direct versus indirect and revealing continued retained interests across family vehicles.
TL;DR: Material volumes were converted and sold at weighted-average prices in the $127–$136 range; impact on float depends on total outstanding shares.
The filing quantifies conversions of 625,000 Class B shares into Class A equivalents and numerous Class A sales across defined price ranges with weighted-average prices reported in footnotes. The precise market impact cannot be assessed from this filing alone because total outstanding shares and recent trading volumes are not provided in the document.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 250,000 | $0.00 | -- |
| Conversion | Class B Common Stock | 375,000 | $0.00 | -- |
| Conversion | Class A Common Stock | 250,000 | $0.00 | -- |
| Conversion | Class A Common Stock | 375,000 | $0.00 | -- |
| Sale | Class A Common Stock | 5,160 | $127.815 | $660K |
| Sale | Class A Common Stock | 12,091 | $128.8108 | $1.56M |
| Sale | Class A Common Stock | 22,475 | $129.6061 | $2.91M |
| Sale | Class A Common Stock | 56,733 | $130.741 | $7.42M |
| Sale | Class A Common Stock | 47,171 | $131.6925 | $6.21M |
| Sale | Class A Common Stock | 42,199 | $132.6427 | $5.60M |
| Sale | Class A Common Stock | 41,296 | $133.6695 | $5.52M |
| Sale | Class A Common Stock | 19,875 | $134.5376 | $2.67M |
| Sale | Class A Common Stock | 3,000 | $135.4689 | $406K |
| Sale | Class A Common Stock | 7,740 | $127.815 | $989K |
| Sale | Class A Common Stock | 18,136 | $128.8108 | $2.34M |
| Sale | Class A Common Stock | 33,713 | $129.6061 | $4.37M |
| Sale | Class A Common Stock | 85,100 | $130.741 | $11.13M |
| Sale | Class A Common Stock | 70,755 | $131.6925 | $9.32M |
| Sale | Class A Common Stock | 63,300 | $132.6427 | $8.40M |
| Sale | Class A Common Stock | 61,943 | $133.6695 | $8.28M |
| Sale | Class A Common Stock | 29,813 | $134.5376 | $4.01M |
| Sale | Class A Common Stock | 4,500 | $135.4689 | $610K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- Each share of Class B Common Stock is convertible into one share of the Issuer's Class A Common Stock at any time, at the election of the holder or automatically upon certain transfers, whether or not for value, or upon the occurrence of certain events or conditions described in the Issuer's Amended and Restated Certificate of Incorporation. The reported securities are directly held by the Brannin J. McBee 2022 Irrevocable Trust, of which the reporting person's spouse and minor child are beneficiaries and for which the reporting person's spouse serves as trustee. The reported transaction represents a sale effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on May 20, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $127.17 to $128.14, inclusive. The reporting person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote 4 and in footnotes 5 through 12. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $128.19 to $129.18, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $129.19 to $130.18, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $130.19 to $131.18, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $131.19 to $132.185, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $132.19 to $133.18, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $133.19 to $134.17, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $134.19 to $135.15, inclusive. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $135.19 to $136.00, inclusive. The reported securities are directly held by the Canis Major SM Trust (the "Canis Trust"), an irrevocable trust with a third-party trustee, of which the reporting person's minor child is beneficiary. The reporting person has the power to remove and replace the Canis Trust's trustee. The reported securities are directly held of record by the reporting person's minor child. The reported securities are directly held by the reporting person's spouse. The reported securities are directly held by the Canis Major 2025 Family Trust LLC, of which the reporting person serves as manager. The reported securities are directly held by the Canis Major 2025 GRAT, of which the reporting person is the sole trustee and beneficiary. The reported securities are directly held by the Canis Major 2024 Irrevocable Trust LLC of which the reporting person serves as manager. The reported securities are directly held by the Canis Minor 2025 Family Trust LLC, of which the reporting person serves as manager. The reported securities are directly held by the Canis Minor 2025 GRAT, of which the reporting person's spouse is the sole beneficiary and trustee.
