Sonida Senior Living insider sells 123,988 shares
A distribution-linked seller sold 123,988 SNDA shares on Aug. 28 and Sep. 1 at high-$38 to low-$39 VWAPs, per the Form 4 notes.
Rhea-AI Filing Summary
SONIDA SENIOR LIVING, INC. (SNDA) had insider activity reported by Michael Simanovsky and Conversant Capital LLC, who may be deemed beneficial owners through advisory and fund relationships. A third-party seller that had received a distribution of SNDA shares from CPIF Sparti SAF, L.P. sold 123,988 shares of Common Stock in indirect, open-market or private transactions on August 28 and September 1, 2026, at volume-weighted average prices in the high-$38 to low-$39 range as described in the notes. Simanovsky and Conversant Capital report these transactions due to their relationships with the investment entities but each disclaims beneficial ownership beyond his or its pecuniary interest.
Positive
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Negative
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Insights
Analyzing...
Insider Trade Summary
Net Seller: 123,988 shares
Net Sell
10 txns
Insider
Simanovsky Michael, Conversant Capital LLC
Role
Director, 10% Owner | Director, 10% Owner
Sold
123,988 shs ($4.76M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F13, F1 | 97,581 | $38.42 | $3.75M |
| Sale | Common Stock F11, F1 | 21,792 | $38.16 | $832K |
| Sale | Common Stock F12, F1 | 4,615 | $39.25 | $181K |
| holding | Common Stock F2, F3 | -- | -- | -- |
| holding | Common Stock F2, F4 | -- | -- | -- |
| holding | Common Stock F2, F5 | -- | -- | -- |
| holding | Common Stock F2, F6 | -- | -- | -- |
| holding | Common Stock F7, F8 | -- | -- | -- |
| holding | Common Stock F7, F9 | -- | -- | -- |
| holding | Common Stock F7, F10 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 100,373 shares (Indirect, See footnote);
Common Stock — 13,423,279 shares (Indirect, See footnotes)
Footnotes (13)
- F1. The changes in beneficial ownership reported hereby are a result of various sales made by a third-party seller that was previously a limited partner of CPIF Sparti SAF, L.P., a Delaware limited partnership ("CPIF SAF"), and received a distribution of shares of Common Stock in connection with its withdrawal from CPIF SAF. Conversant Capital LLC ("Conversant Capital") has a non-discretionary investment advisory relationship with, and an ongoing interest in the proceeds of the sale of shares of Common Stock by the third-party seller of these shares of Common Stock. By virtue of this advisory relationship and the relationship of Mr. Simanovsky and Conversant Capital, each of Conversant Capital and Mr. Simanovsky may be deemed a beneficial owner of such shares of Common Stock, but each disclaims such beneficial ownership except to the extent of his or its pecuniary interest therein. Mr. Simanovsky and Conversant Capital are referred to as the "Reporting Persons" within this statement.
- F2. Conversant GP Holdings LLC ("Conversant GP") is the general partner of each of Conversant Dallas Parkway (A) LP, a Delaware limited partnership ("Investor A"), Conversant Dallas Parkway (B) LP, a Delaware limited partnership ("Investor B"), Conversant Dallas Parkway (D) LP, a Delaware limited partnership ("Investor D"), and Conversant Dallas Parkway (F) LP, a Delaware limited partnership ("Investor F"). Conversant Capital is the investment manager to each of Investor A, Investor B, Investor D, and Investor F. Mr. Simanovsky is the managing member of Conversant Capital and Conversant GP. By virtue of these relationships, each of Mr. Simanovsky and Conversant Capital may be deemed a beneficial owner of these securities, but each disclaims such beneficial ownership except to the extent of his or its pecuniary interest therein.
- F3. Securities are held by Investor A.
- F4. Securities are held by Investor B.
- F5. Securities are held by Investor D.
- F6. Securities are held by Investor F.
- F7. Conversant Private GP LLC ("Conversant Private GP") is the general partner of CPIF K Co-Invest SPT A, L.P., a Cayman Islands exempted limited partnership ("CPIF K"), Conversant PIF Aggregator A LP, a Delaware limited partnership ("Aggregator A") and CPIF SAF. Conversant Capital is the investment manager to each of Aggregator A, CPIF K and CPIF SAF. Mr. Simanovsky is the managing member of Conversant Capital and Conversant Private GP. By virtue of these relationships, each of Mr. Simanovsky and Conversant Capital may be deemed a beneficial owner of these securities, but each disclaims such beneficial ownership except to the extent of his or its pecuniary interest therein.
- F8. Securities are held by Aggregator A.
- F9. Securities are held by CPIF K.
- F10. Securities are held by CPIF SAF.
- F11. Price is the volume weighted average selling price of all sales by the seller on the indicated transaction date. Actual prices ranged from $38.01 to $39.00. The Reporting Persons hereby undertake to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
- F12. Price is the volume weighted average selling price of all sales by the seller on the indicated transaction date. Actual prices ranged from $39.09 to $39.31. The Reporting Persons hereby undertake to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
- F13. Price is the volume weighted average selling price of all sales by the seller on the indicated transaction date. Actual prices ranged from $38.00 to $38.79. The Reporting Persons hereby undertake to provide upon request of the Commission staff, the issuer, or a security holder of the issuer, full information regarding the number of shares sold at each separate price.
Key Figures
Shares sold on 2026-09-01: 97,581 shares of Common Stock
Price per share on 2026-09-01: $38.42 per share (volume-weighted average)
Shares sold on 2026-08-28 (first block): 21,792 shares of Common Stock
+4 more
7 metrics
Shares sold on 2026-09-01
97,581 shares of Common Stock
Indirect sale reported for September 1, 2026
Price per share on 2026-09-01
$38.42 per share (volume-weighted average)
Actual prices ranged from $38.00 to $38.79
Shares sold on 2026-08-28 (first block)
21,792 shares of Common Stock
Indirect sale reported for August 28, 2026
VWAP price range for 21,792-share sale
$38.01–$39.00 per share
Actual sale-price range referenced for $38.16 VWAP
Shares sold on 2026-08-28 (second block)
4,615 shares of Common Stock
Additional indirect sale reported for August 28, 2026
VWAP price range for 4,615-share sale
$39.09–$39.31 per share
Actual sale-price range referenced for $39.25 VWAP
Total shares sold
123,988 shares of Common Stock
Sum of reported indirect sales across listed transactions
Key Terms
beneficial owner, volume weighted average selling price, pecuniary interest, non-discretionary investment advisory relationship, +1 more
5 terms
beneficial owner regulatory
"may be deemed a beneficial owner of these securities, but each disclaims"
A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.
volume weighted average selling price financial
"Price is the volume weighted average selling price of all sales"
pecuniary interest financial
"disclaims such beneficial ownership except to the extent of his or its pecuniary interest"
non-discretionary investment advisory relationship financial
"Conversant Capital has a non-discretionary investment advisory relationship with"
limited partnership financial
"CPIF Sparti SAF, L.P., a Delaware limited partnership"
A limited partnership is a legal business structure with two types of partners: at least one general partner who runs the business and bears full legal responsibility, and one or more limited partners who contribute money, share profits, and have liability capped at their investment. For investors, it matters because it separates control from financial exposure — like putting money into a store without managing it — and affects how returns, risks, taxes and transferability of ownership are handled.
FAQ
What insider activity did SNDA report in this Form 4?
The filing reports indirect sales of 123,988 shares of SNDA Common Stock in open-market or private transactions by a third-party seller linked to CPIF Sparti SAF, L.P., with Michael Simanovsky and Conversant Capital LLC reporting due to their relationships with the involved investment entities.
Who are the reporting persons for SNDA in this Form 4?
The reporting persons are Michael Simanovsky and Conversant Capital LLC. Each may be considered a director and a more-than-10% owner of SNDA for Section 16 purposes and may be deemed a beneficial owner through advisory and general-partner roles in affiliated investment entities.
What were the reported sale prices for the SNDA stock transactions?
Reported prices are volume-weighted average selling prices. One August 28, 2026 sale used $38.16 per share with an actual range of $38.01–$39.00; another used $39.25 with a $39.09–$39.31 range. The September 1, 2026 sale used $38.42 with a $38.00–$38.79 range.
Did the SNDA Form 4 involve direct or indirect ownership changes?
All reported SNDA transactions involve indirect ownership. The shares were sold by a third-party seller that had received a distribution from CPIF Sparti SAF, L.P., and various affiliated investment partnerships hold other positions, with Simanovsky and Conversant Capital reporting through these relationships.
AI-generated analysis. How Rhea-AI works. Not financial advice.
