CuriosityStream Insider Update: Hendricks Trims Holding but Keeps Control

Rhea-AI Filing Summary

CuriosityStream Inc. (CURI) – Schedule 13D/A (Amendment No. 4) discloses updated ownership details for founder John Hendricks and his wholly-owned entity Hendricks Factual Media LLC.

After the transactions, Hendricks Factual Media LLC holds 20,262,775 common shares, representing 35 % of the 57,709,605 shares outstanding as of 16 Jun 2025. Including 395,357 shares held directly, John Hendricks’ aggregate beneficial ownership totals 20,658,132 shares, or 38 % of the company’s common stock. The filing notes that Hendricks continues to exercise sole voting and dispositive power over the entire position.

Item 5 highlights that between 5 Jun 2025 and 14 Jun 2025 the LLC sold 600,000 shares in open-market transactions at prices ranging from $4.54 – $6.10 per share. The sales were executed “for estate planning purposes.” No other changes to governance arrangements or strategic intentions are disclosed, and Hendricks remains the company’s largest shareholder.

Positive

• John Hendricks maintains a substantial 38 % beneficial ownership, preserving alignment with minority shareholders and ensuring continued strategic commitment.
• Sole voting and dispositive power remain intact, indicating no dilution of founder control or governance stability.

Negative

• Insider sold 600,000 shares (estate planning), signalling a slight reduction in commitment and introducing potential overhang.
• Stake falls to 35 %/38 % for the LLC/founder respectively, a measurable but not yet material decrease in ownership concentration.

Insights

Financial Analyst

TL;DR: Founder trims ~600k shares but still controls 38%; limited strategic signal, modest liquidity impact.

The amendment records a 600,000-share disposition (≈1 % of outstanding) by Hendricks Factual Media LLC, executed over ten days. Despite the sale, John Hendricks retains a commanding 38 % stake, preserving effective control. The filing cites estate planning, and there is no indication of broader divestiture plans or governance shifts. Transaction size and disclosed rationale suggest minimal immediate strategic implication, though recurring sales could pressure sentiment. Overall, the update is informational with low valuation impact.

Corporate Governance Specialist

TL;DR: Insider sale modest; control structure unchanged, so governance dynamics remain stable.

The founder’s share sale reduces his LLC’s holdings to 35 % of CURI’s equity yet leaves aggregate beneficial ownership at 38 %, well above any control thresholds. Sole voting/dispositive authority is unchanged, meaning board influence and takeover defenses are intact. Because the transactions were routine open-market sales with transparent rationale, they do not raise governance red flags. Materiality is limited, but investors should monitor if future 13D amendments signal an acceleration of selling.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)

CuriosityStream Inc.

(Name of Issuer)

"Common Stock, par value $0.0001 per share"

(Title of Class of Securities)

23130Q107

(CUSIP Number)

John Hendricks
Hendricks Factual Media LLC, 8484 Georgia Ave., Suite 700
Silver Spring, MD, 20910
(301) 755-2050

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/17/2025

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

CUSIP No. 23130Q107

1

Name of reporting person

Hendricks Factual Media LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 20,262,775.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 20,262,775.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

20,262,775.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

35 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

Percentage reported in row 13 is based on 57,709,605 shares outstanding as of June 16, 2025. The shares are held by Hendricks Factual Media LLC, an entity wholly owned and controlled by Mr. John Hendricks. As such, Mr. Hendricks may be deemed to have indirect beneficial ownership of the securities held by the LLC.

SCHEDULE 13D

CUSIP No. 23130Q107

1

Name of reporting person

John Hendricks

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 20,658,132.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 20,658,132.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

20,658,132.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

38 %

14

Type of Reporting Person (See Instructions)

Comment for Type of Reporting Person:

Percentage reported in row 13 is based on 57,709,605 shares outstanding as of June 16, 2025.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: "Common Stock, par value $0.0001 per share"
(b)	Name of Issuer: CuriosityStream Inc.
(c)	Address of Issuer's Principal Executive Offices: 8484 Georgia Ave., Suite 700, Silver Spring, MARYLAND , 20910.
Item 1 Comment: This Amendment No. 4 ("Amendment No. 4") amends and supplements the statement on Schedule 13D filed with the Securities and Exchange Commission (the "SEC") on October 22, 2020 (the "Original Schedule 13D", and the Original Schedule 13D as amended, the "Schedule 13D"), with respect to shares of common stock, par value $0.0001 per share (the "Common Stock"), of CuriosityStream Inc., a Delaware corporation (the "Issuer"). This Amendment No. 4 amends and restates Item 5 as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 4 have the meanings set forth in the Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	The aggregate number and percentage of Common Stock beneficially owned by each Reporting Person and the number of shares as to which there is sole power to vote or to direct the vote, shared power to vote or to direct the vote, sole power to dispose or to direct the disposition, or shared power to dispose or to direct the disposition are set forth on rows 7 through 11 and row 13 of the cover pages of this Amendment No. 4 and are hereby incorporated herein by reference. The aggregate percentage of shares reported owned by each Reporting Person is based upon 57,709,605 shares outstanding as of June 16, 2025, based on information reported by the Issuer. As of June 18, 2025, Hendricks Factual Media LLC directly holds 20,262,775 shares of Common Stock, and is controlled by its manager, John Hendricks. As of the date hereof, John Hendricks directly holds 395,357 shares of Common Stock.
(b)	See rows (7) through (10) of the cover pages to this Schedule 13D for the number of shares of Common Stock as to which each Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	Between June 5, 2025, and June 14, 2025, Hendricks Factual Media LLC sold an aggregate of 600,000 shares of Common Stock in multiple open market transactions at prices ranging from $4.54 to $6.10 per share. These transactions were executed for estate planning purposes. The detailed list of transactions, including the date, quantity, and price per share, is provided in Schedule A attached hereto.
Item 7.	Material to be Filed as Exhibits.
	Exhibit 1 - Schedule A

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Hendricks Factual Media LLC

Signature:	John Hendricks
Name/Title:	Manager
Date:	06/17/2025

John Hendricks

Signature:	John Hendricks
Name/Title:	John Hendricks
Date:	06/17/2025

FAQ

How many CuriosityStream (CURI) shares does John Hendricks now own?

The filing states he beneficially owns 20,658,132 shares, or 38 % of common stock.

What percentage of CuriosityStream is held by Hendricks Factual Media LLC?

The LLC holds 20,262,775 shares, representing 35 % of shares outstanding.

How many shares were sold in the recent insider transactions?

Between 5 Jun 2025 and 14 Jun 2025, the LLC sold 600,000 shares in open-market trades.

At what prices were the CuriosityStream shares sold?

Sale prices ranged from $4.54 to $6.10 per share as disclosed in Item 5.

Why were the shares sold according to the Schedule 13D/A?

The transactions were executed for estate planning purposes.

Does this filing change control of CuriosityStream?

No. Hendricks retains sole voting and dispositive power over his 38 % stake, so control remains unchanged.