CRWV Form 4: Director Receives 1,980 RSUs; Large Indirect Holdings Disclosed
Rhea-AI Filing Summary
CoreWeave, Inc. (CRWV) Form 4 shows Director Glenn H. Hutchins received restricted stock unit awards that convert into Class A common stock. The filing records grants of 1,440 and 540 restricted stock units (totaling 1,980 underlying shares) issued at no cash price and reflected as acquisitions. The reporting lines show reported direct beneficial ownership figures of 3,380 and 3,920 shares following those entries.
The report discloses significant indirect holdings: 10,640 shares held by North Island Inferno Fund II LLC and 384,840 shares held by Tide Mill LLC. The RSUs vest on a periodic schedule (1/12 or 1/4 tranches on specified calendar dates) and are contingent on continued service. The filing also corrects a prior misstatement by removing an erroneously attributed entity (North Island SPV CW LLC).
Positive
- 1,980 RSUs granted (1,440 and 540) aligning the director’s interests with shareholders via equity compensation
- Large indirect holdings disclosed explicitly: 10,640 shares (North Island Inferno Fund II LLC) and 384,840 shares (Tide Mill LLC), improving transparency
- Correction issued removing an erroneously attributed entity (North Island SPV CW LLC), clarifying prior reporting
Negative
- Prior filings misstated ownership by including North Island SPV CW LLC; administrative errors in Section 16 reporting can raise governance scrutiny
- Concentrated indirect ownership (384,840 shares via Tide Mill LLC) represents a large position disclosed in the filing
Insights
TL;DR: Director received 1,980 RSUs; large indirect holdings disclosed; prior filing corrected for an erroneously attributed entity.
The filing documents grants of 1,440 and 540 restricted stock units that convert to Class A common stock at settlement, recorded as acquisitions at $0. Reported direct beneficial ownership totals are shown after each grant line. Material indirect holdings are explicitly disclosed: 10,640 shares via North Island Inferno Fund II LLC and 384,840 shares via Tide Mill LLC. No sales or dispositions are reported. The correction removing North Island SPV CW LLC clarifies prior reporting; it is an administrative fix rather than a new transaction.
TL;DR: Disclosure shows alignment via equity awards and a corrective amendment to prior filings; governance note on reporting accuracy.
The report confirms periodic vesting schedules for the awarded RSUs (vesting in tranches rather than immediate full vesting) and states each RSU converts to one share upon settlement. The explicit disclaimer regarding beneficial ownership of certain entities and the correction of an earlier Form 3/Form 4 entry signals attention to filing accuracy. Investors should view this as routine insider compensation disclosure accompanied by a remedial correction of a prior administrative error.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 1,440 | $0.00 | -- |
| Exercise | Restricted Stock Units | 540 | $0.00 | -- |
| Exercise | Class A Common Stock | 1,440 | $0.00 | -- |
| Exercise | Class A Common Stock | 540 | $0.00 | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Footnotes (1)
- The reported securities are directly held by North Island Inferno Fund II LLC ("North Island Inferno"). The reporting person serves as investment manager for North Island Inferno and as such may be deemed to exercise shared voting and investment discretion over securities held by it. The reporting person disclaims beneficial ownership for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("Exchange Act"), except to the extent of his pecuniary interest therein, if any. The reported securities are directly held by Tide Mill LLC ("Tide Mill"). The managing member of Tide Mill is North Island Management, LLC ("NIM"). The reporting person serves as chairman of NIM and may be deemed to directly or indirectly exercise voting and investment discretion over the investments of NIM and Tide Mill. The reporting person disclaims beneficial ownership for purposes of Section 16 of the Exchange Act except to the extent of his pecuniary interest therein, if any. Each restricted stock unit represents a contingent right to receive one share of the Issuer's Class A Common Stock upon settlement. The award vested or vests as to 1/12 of the total award on the tenth calendar day of May, August, November, and February, subject to the reporting person's continued service to the Issuer on each vesting date, with the first tranche vested on May 10, 2025. These restricted stock units do not expire; they either vest or are cancelled prior to the vesting date. The award vested or vests as to 1/4 of the total award on the tenth calendar day of May, August, November, and February, subject to the reporting person's continued service to the Issuer on each vesting date, with the first tranche vested on May 10, 2025.
