Magnetar funds’ CoreWeave (CRWV) collar options expire unexercised for no value

Rhea-AI Filing Summary

CoreWeave, Inc. large holder reports option collar expiration

Investment entities associated with Magnetar Financial LLC reported that multiple call and put option positions linked to CoreWeave Class A Common Stock expired unexercised and for no value on March 20, 2026, as part of a previously established collar arrangement.

The filing notes that the options’ closing share price fell between the collar’s call and put strike prices, so neither side was exercised. The options were held indirectly through various Magnetar-managed funds, and Magnetar entities and David J. Snyderman disclaim beneficial ownership except to the extent of their pecuniary interest.

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
Estimated average burden
hours per response:			0.5

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)	$160	03/20/2026		E/K(1)			235,080	03/20/2026	03/20/2026	Class A Common Stock	235,080	$0	0	I	Footnotes(2)(3)(4)(5)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			235,080	03/20/2026	03/20/2026	Class A Common Stock	235,080	$0	0	I	Footnotes(2)(3)(4)(5)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			30,820	03/20/2026	03/20/2026	Class A Common Stock	30,820	$0	0	I	Footnotes(2)(3)(4)(6)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			30,820	03/20/2026	03/20/2026	Class A Common Stock	30,820	$0	0	I	Footnotes(2)(3)(4)(6)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			3,187	03/20/2026	03/20/2026	Class A Common Stock	3,187	$0	0	I	Footnotes(2)(3)(4)(7)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			3,187	03/20/2026	03/20/2026	Class A Common Stock	3,187	$0	0	I	Footnotes(2)(3)(4)(7)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			68,703	03/20/2026	03/20/2026	Class A Common Stock	68,703	$0	0	I	Footnotes(2)(3)(4)(8)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			68,703	03/20/2026	03/20/2026	Class A Common Stock	68,703	$0	0	I	Footnotes(2)(3)(4)(8)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			94,321	03/20/2026	03/20/2026	Class A Common Stock	94,321	$0	0	I	Footnotes(2)(3)(4)(9)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			94,321	03/20/2026	03/20/2026	Class A Common Stock	94,321	$0	0	I	Footnotes(2)(3)(4)(9)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			118,230	03/20/2026	03/20/2026	Class A Common Stock	118,230	$0	0	I	Footnotes(2)(3)(4)(10)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			118,230	03/20/2026	03/20/2026	Class A Common Stock	118,230	$0	0	I	Footnotes(2)(3)(4)(10)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			26,713	03/20/2026	03/20/2026	Class A Common Stock	26,713	$0	0	I	Footnotes(2)(3)(4)(11)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			26,713	03/20/2026	03/20/2026	Class A Common Stock	26,713	$0	0	I	Footnotes(2)(3)(4)(11)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			100,572	03/20/2026	03/20/2026	Class A Common Stock	100,572	$0	0	I	Footnotes(2)(3)(4)(12)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			100,572	03/20/2026	03/20/2026	Class A Common Stock	100,572	$0	0	I	Footnotes(2)(3)(4)(12)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			61,982	03/20/2026	03/20/2026	Class A Common Stock	61,982	$0	0	I	Footnotes(2)(3)(4)(13)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			61,982	03/20/2026	03/20/2026	Class A Common Stock	61,982	$0	0	I	Footnotes(2)(3)(4)(13)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			49,931	03/20/2026	03/20/2026	Class A Common Stock	49,931	$0	0	I	Footnotes(2)(3)(4)(14)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			49,931	03/20/2026	03/20/2026	Class A Common Stock	49,931	$0	0	I	Footnotes(2)(3)(4)(14)
Call option (obligation to sell)	$160	03/20/2026		E/K(1)			10,461	03/20/2026	03/20/2026	Class A Common Stock	10,461	$0	0	I	Footnotes(2)(3)(4)(15)
Put option (right to sell)	$70	03/20/2026		E/K(1)(16)			10,461	03/20/2026	03/20/2026	Class A Common Stock	10,461	$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 27, 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 report in the latest CoreWeave (CRWV) Form 4 filing?

The filing shows Magnetar-affiliated funds had multiple call and put options on CoreWeave Class A stock expire unexercised for no value on March 20, 2026, as part of a collar arrangement entered into on August 27, 2025.

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

No open-market share purchases or sales are reported. The Form 4 only discloses the expiration of option positions tied to CoreWeave Class A Common Stock, which lapsed unexercised and for no value when the stock closed between the collar’s strike prices.

What type of derivative positions on CoreWeave (CRWV) did Magnetar’s funds have?

Magnetar-managed funds held call options and put options on CoreWeave Class A Common Stock as part of a collar structure. Both the call option obligations and put option rights expired unexercised and for no value on March 20, 2026, according to the disclosure.

Why did the CoreWeave (CRWV) options in Magnetar’s collar expire worthless?

The options expired worthless because CoreWeave’s Class A Common Stock closing price on March 20, 2026, was between the collar’s call strike price and put strike price, so neither the call options nor the put options were in-the-money and neither side was exercised.

Who actually holds the CoreWeave (CRWV) securities referenced in the Magnetar Form 4?

The securities are held directly by multiple Magnetar-managed vehicles, including CW Opportunity LLC and several Magnetar funds. Magnetar Financial, Magnetar Capital Partners, Supernova Management, and David J. Snyderman all disclaim beneficial ownership except to the extent of any pecuniary interest in those vehicles.

Does the Magnetar Form 4 change its economic exposure to CoreWeave (CRWV)?

The Form 4 records only the expiration of option positions for no value, so it reflects the natural maturity of a collar rather than new trades. It does not describe new CoreWeave share purchases, sales, or fresh derivative contracts in this particular disclosure.