CoreWeave (CRWV) Magnetar-linked collar options expire unexercised

Rhea-AI Filing Summary

CoreWeave, Inc. received a Form 4 from entities associated with Magnetar Financial LLC reporting the expiration of collar option positions tied to its Class A Common Stock. On March 20, 2026, paired call options with a $175.00 strike and put options with a $70.00 strike, entered on August 28, 2025 as part of a collar arrangement, expired unexercised and for no value because the closing share price finished between the two strike prices. The filing shows multiple indirect positions over blocks of CoreWeave Class A shares held through various Magnetar-managed funds, with all of these short derivative positions terminating without any reported open-market buying or selling of stock.

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

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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^*

Magnetar Financial LLC

(Last) (First) (Middle)

1603 ORRINGTON AVENUE

13TH FLOOR

(Street)

EVANSTON ILLINOIS 60201

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CoreWeave, Inc. [ CRWV ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/20/2026

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

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

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

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

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
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			176,310	03/20/2026	03/20/2026	Class A Common Stock	176,310	$0	0	I	Footnotes(2)(3)(4)(5)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			176,310	03/20/2026	03/20/2026	Class A Common Stock	176,310	$0	0	I	Footnotes(2)(3)(4)(5)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			23,115	03/20/2026	03/20/2026	Class A Common Stock	23,115	$0	0	I	Footnotes(2)(3)(4)(6)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			23,115	03/20/2026	03/20/2026	Class A Common Stock	23,115	$0	0	I	Footnotes(2)(3)(4)(6)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			2,390	03/20/2026	03/20/2026	Class A Common Stock	2,390	$0	0	I	Footnotes(2)(3)(4)(7)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			2,390	03/20/2026	03/20/2026	Class A Common Stock	2,390	$0	0	I	Footnotes(2)(3)(4)(7)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			51,527	03/20/2026	03/20/2026	Class A Common Stock	51,527	$0	0	I	Footnotes(2)(3)(4)(8)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			51,527	03/20/2026	03/20/2026	Class A Common Stock	51,527	$0	0	I	Footnotes(2)(3)(4)(8)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			70,741	03/20/2026	03/20/2026	Class A Common Stock	70,741	$0	0	I	Footnotes(2)(3)(4)(9)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			70,741	03/20/2026	03/20/2026	Class A Common Stock	70,741	$0	0	I	Footnotes(2)(3)(4)(9)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			88,673	03/20/2026	03/20/2026	Class A Common Stock	88,673	$0	0	I	Footnotes(2)(3)(4)(10)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			88,673	03/20/2026	03/20/2026	Class A Common Stock	88,673	$0	0	I	Footnotes(2)(3)(4)(10)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			20,035	03/20/2026	03/20/2026	Class A Common Stock	20,035	$0	0	I	Footnotes(2)(3)(4)(11)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			20,035	03/20/2026	03/20/2026	Class A Common Stock	20,035	$0	0	I	Footnotes(2)(3)(4)(11)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			75,428	03/20/2026	03/20/2026	Class A Common Stock	75,428	$0	0	I	Footnotes(2)(3)(4)(12)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			75,428	03/20/2026	03/20/2026	Class A Common Stock	75,428	$0	0	I	Footnotes(2)(3)(4)(12)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			46,487	03/20/2026	03/20/2026	Class A Common Stock	46,487	$0	0	I	Footnotes(2)(3)(4)(13)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			46,487	03/20/2026	03/20/2026	Class A Common Stock	46,487	$0	0	I	Footnotes(2)(3)(4)(13)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			37,448	03/20/2026	03/20/2026	Class A Common Stock	37,448	$0	0	I	Footnotes(2)(3)(4)(14)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			37,448	03/20/2026	03/20/2026	Class A Common Stock	37,448	$0	0	I	Footnotes(2)(3)(4)(14)
Call option (obligation to sell)	$175	03/20/2026		E/K(1)			7,846	03/20/2026	03/20/2026	Class A Common Stock	7,846	$0	0	I	Footnotes(2)(3)(4)(15)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			7,846	03/20/2026	03/20/2026	Class A Common Stock	7,846	$0	0	I	Footnotes(2)(3)(4)(15)

1. Name and Address of Reporting Person^*

Magnetar Financial LLC

(Last) (First) (Middle)

1603 ORRINGTON AVENUE

13TH FLOOR

(Street)

EVANSTON ILLINOIS 60201

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Magnetar Capital Partners LP

(Last) (First) (Middle)

1603 ORRINGTON AVENUE

13TH FLOOR

(Street)

EVANSTON ILLINOIS 60201

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Supernova Management LLC

(Last) (First) (Middle)

1603 ORRINGTON AVENUE

13TH FLOOR

(Street)

EVANSTON ILLINOIS 60201

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Snyderman David J.

(Last) (First) (Middle)

1603 ORRINGTON AVENUE

13TH FLOOR

(Street)

EVANSTON ILLINOIS 60201

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. In connection with the expiration of a call option and a put option entered into on August 28, 2025, as part of a collar arrangement, both options expired unexercised and for no value on March 20, 2026, as the closing price of the Class A Common Stock on such date was between the call strike price and the put strike price.

2. Magnetar Financial LLC ("Magnetar Financial") serves as the investment adviser to each of CW Opportunity LLC, Magnetar Capital Master Fund, Ltd, Magnetar Constellation Master Fund, Ltd, Magnetar Longhorn Fund LP, Magnetar SC Fund Ltd, Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC, and Purpose Alternative Credit Fund - T LLC, the general partner of Magnetar Structured Credit Fund, LP and the manager of Magnetar Alpha Star Fund LLC and Magnetar Lake Credit Fund LLC (collectively, the "Magnetar Funds").

3. Magnetar Capital Partners LP ("Magnetar Capital Partners") is the sole member and parent holding company of Magnetar Financial. Supernova Management LLC ("Supernova Management") is the general partner of Magnetar Capital Partners. The administrative manager of Supernova Management is David J. Snyderman, a citizen of the United States of America.

4. Each of the Magnetar Funds, Magnetar Financial, Magnetar Capital Partners, Supernova Management and David J. Snyderman disclaims beneficial ownership of these shares of Common Stock of the Issuer, except to the extent of its or his pecuniary interest therein.

5. These securities are held directly by CW Opportunity LLC.

6. These securities are held directly by Magnetar Alpha Star Fund LLC.

7. These securities are held directly by Magnetar Capital Master Fund, Ltd.

8. These securities are held directly by Magnetar Constellation Master Fund, Ltd.

9. These securities are held directly by Magnetar Lake Credit Fund LLC.

10. These securities are held directly by Magnetar Longhorn Fund LP.

11. These securities are held directly by Magnetar SC Fund Ltd.

12. These securities are held directly by Magnetar Structured Credit Fund, LP.

13. These securities are held directly by Magnetar Xing He Master Fund Ltd.

14. These securities are held directly by Purpose Alternative Credit Fund - F LLC.

15. These securities are held directly by Purpose Alternative Credit Fund - T LLC.

16. Expiration of a long derivative security for no value, transaction code "K" only.

	/s/ Hayley A. Stein, Attorney-in-Fact for David J. Snyderman, as Administrative Manager of Supernova Management LLC, which is the General Partner of Magnetar Capital Partners LP, which is in turn the Sole Member of Magnetar Financial LLC	03/20/2026
	/s/ Hayley A. Stein, Attorney-in-Fact for David J. Snyderman, as Administrative Manager of Supernova Management LLC, which is the General Partner of Magnetar Capital Partners LP	03/20/2026
	/s/ Hayley A. Stein, Attorney-in-Fact for David J. Snyderman, as Administrative Manager of Supernova Management LLC	03/20/2026
	/s/ Hayley A. Stein, Attorney-in-Fact for David J. Snyderman	03/20/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Magnetar-related entities report in the latest CoreWeave (CRWV) Form 4?

They reported that multiple collar option positions on CoreWeave Class A Common Stock expired unexercised and for no value on March 20, 2026. These were indirect derivative positions held through Magnetar-managed funds, not direct share purchases or sales.

Were any CoreWeave (CRWV) shares bought or sold in this Form 4 filing?

No open-market share purchases or sales were reported. The Form 4 only shows expiration of short derivative positions—paired call and put options—which lapsed unexercised and for no value when CoreWeave’s closing price fell between their strike prices.

What collar structure did the Magnetar entities hold on CoreWeave (CRWV) stock?

They held a collar arrangement entered on August 28, 2025, using call options with a $175.00 strike and put options with a $70.00 strike. Both legs referenced CoreWeave Class A Common Stock and expired together on March 20, 2026.

Why did the CoreWeave (CRWV) collar options expire for no value?

The options expired worthless because CoreWeave’s Class A Common Stock closed between the $70.00 put strike and the $175.00 call strike on March 20, 2026. In that scenario, neither the right to sell nor the obligation to sell is exercised economically.

Who actually holds the CoreWeave (CRWV) derivative positions reported in the Form 4?

The securities are held directly by various Magnetar-managed funds, such as CW Opportunity LLC and several Magnetar master and credit funds. Magnetar Financial and related entities act as advisers or general partners and disclaim beneficial ownership beyond any pecuniary interest.