[Form 4] CoreWeave, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Magnetar-linked entities reported a collar transaction on CoreWeave, Inc. (CRWV) dated 08/28/2025. The filing shows a covered-call/write and a purchased put on the same blocks of Class A common stock so that only one option can be in-the-money at expiration on 03/20/2026. The reported tranches under the collar are 46,487; 37,448; and 7,846 underlying shares, each tied to a $175 call and a $70 put. The securities are held directly by three Magnetar funds and are reported as indirectly beneficially owned by Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman, who disclaim beneficial ownership except for pecuniary interest.

Positive

• Protective puts purchased as part of the collar provide documented downside protection through 03/20/2026.
• Structured collar clearly disclosed with strikes ($175 call, $70 put) and expiration date, improving transparency.
• Detailed reporting chain lists Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC, and David J. Snyderman.

Negative

• Sold covered calls (obligation to sell) at $175 could force sale of shares if calls finish in-the-money on 03/20/2026.
• Disclaimers of beneficial ownership indicate reporting persons assert limited control, which may limit clarity around economic voting influence.

Insights

Financial Analyst

TL;DR Magnetar placed a collar across 91,781 CRWV shares, locking downside protection and capping upside through March 20, 2026.

The filing documents a standard collar: simultaneous sale of covered calls at a $175 strike and purchase of puts at a $70 strike, each expiring 03/20/2026, across three blocks totaling 46,487; 37,448; and 7,846 shares. This structure limits downside risk while capping potential upside through option exercise or expiration. Reporting lines show indirect beneficial ownership through multiple Magnetar entities and the manager, with explicit disclaimers of beneficial ownership except for pecuniary interest. The transaction is operationally material for share-level exposure but not an ownership change in control based on the information provided.

Corporate Governance Expert

TL;DR The Form 4 discloses related-party option activity with standard disclaimers of beneficial ownership across Magnetar entities.

The Form 4 clearly identifies the reporting chain: Magnetar Financial LLC, its parent and affiliates, and David J. Snyderman as manager, with signed attestations. Footnotes state the securities are held directly by three funds and each reporting person disclaims beneficial ownership except to the extent of pecuniary interest. The disclosure and signatures appear to meet Section 16 reporting mechanics; no governance changes, officer resignations, or control transfers are disclosed.

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 IL 60201

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025

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

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

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

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	08/28/2025		S/K(1)			46,487	03/20/2026	03/20/2026	Class A Common Stock	46,487	$325,409	46,487	I	Footnotes(2)(3)(4)(5)
Put option (right to sell)	$70	08/28/2025		P/K(1)		46,487		03/20/2026	03/20/2026	Class A Common Stock	46,487	$371,896	46,487	I	Footnotes(2)(3)(4)(5)
Call option (obligation to sell)	$175	08/28/2025		S/K(1)			37,448	03/20/2026	03/20/2026	Class A Common Stock	37,448	$262,136	37,448	I	Footnotes(2)(3)(4)(6)
Put option (right to sell)	$70	08/28/2025		P/K(1)		37,448		03/20/2026	03/20/2026	Class A Common Stock	37,448	$299,584	37,448	I	Footnotes(2)(3)(4)(6)
Call option (obligation to sell)	$175	08/28/2025		S/K(1)			7,846	03/20/2026	03/20/2026	Class A Common Stock	7,846	$54,922	7,846	I	Footnotes(2)(3)(4)(7)
Put option (right to sell)	$70	08/28/2025		P/K(1)		7,846		03/20/2026	03/20/2026	Class A Common Stock	7,846	$62,768	7,846	I	Footnotes(2)(3)(4)(7)

1. Name and Address of Reporting Person^*

Magnetar Financial LLC

(Last) (First) (Middle)

1603 ORRINGTON AVENUE

13TH FLOOR

(Street)

EVANSTON IL 60201

(City) (State) (Zip)

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 IL 60201

(City) (State) (Zip)

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 IL 60201

(City) (State) (Zip)

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 IL 60201

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The entity holding the underlying shares of Class A common stock (the "Common Stock") of CoreWeave, Inc. entered into a collar arrangement pursuant to which such entity wrote a covered call option and purchased a put option. Only one of the options can be in-the-money on the expiration date, at which time the in-the-money option will be exercised and settled in shares and the other option will expire. If neither option is in-the-money on the expiration date, both options will expire.

2. Magnetar Financial LLC ("Magnetar Financial") serves as the investment adviser to each of Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC and Purpose Alternative Credit Fund - T 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 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 Magnetar Xing He Master Fund Ltd.

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

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

	/s/ Hayley A. Stein, Attorney-in-Fact for David J. Snyderman, as 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	08/29/2025
	/s/ Hayley A. Stein, Attorney-in-Fact for David J. Snyderman, as Manager of Supernova Management LLC, which is the General Partner of Magnetar Capital Partners LP	08/29/2025
	/s/ Hayley A. Stein, Attorney-in-Fact for David J. Snyderman, as Manager of Supernova Management LLC	08/29/2025
	/s/ Hayley A. Stein, Attorney-in-Fact for David J. Snyderman	08/29/2025
	** 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.

FAQ

What transaction did Magnetar report on Form 4 for CRWV?

Magnetar reported a collar transaction consisting of covered call sales and purchased puts on CRWV shares executed 08/28/2025, expiring 03/20/2026.

How many CoreWeave (CRWV) shares are covered by the reported options?

The filing lists three tranches totaling 91,781 underlying shares: 46,487; 37,448; and 7,846 shares.

What are the strike prices and expiration dates on the options?

Calls strike $175 and puts strike $70, all with an expiration/exercise date of 03/20/2026, per the filing.

Which Magnetar entities are listed as reporting persons on the Form 4?

Reporting persons include Magnetar Financial LLC, Magnetar Capital Partners LP, Supernova Management LLC and David J. Snyderman (manager).

Who holds the securities directly according to the filing?

The securities are held directly by Magnetar Xing He Master Fund Ltd, Purpose Alternative Credit Fund - F LLC, and Purpose Alternative Credit Fund - T LLC, as noted in the footnotes.