Sonida Senior Living insider gives up 100K shares
A Conversant Capital-related advisory relationship ended, removing 100,373 SNDA shares from the reporting group without any market sale.
Rhea-AI Filing Summary
SONIDA SENIOR LIVING, INC. (SNDA) reported that entities associated with Michael Simanovsky and Conversant Capital LLC recorded a restructuring-related disposition of 100,373 shares of common stock on September 2, 2026. The reduction did not involve a sale, but resulted from terminating a non-discretionary investment advisory relationship with a former limited partner of CPIF Sparti SAF, L.P., after which the reporting persons ceased to have any interest in any shares that may be held by that former limited partner. The filing also notes that Simanovsky and Conversant Capital may be deemed beneficial owners of securities held through several affiliated investment partnerships and aggregators, while disclaiming beneficial ownership beyond their pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
Other: 100,373 shares
Other
8 txns
Insider
Simanovsky Michael, Conversant Capital LLC
Role
Director, 10% Owner | Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Common Stock F1 | 100,373 | -- | -- |
| 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 — 0 shares (Indirect, See footnote);
Common Stock — 13,423,279 shares (Indirect, See footnotes)
Footnotes (10)
- F1. The reduction in shares set forth herein does not reflect a sale of these securities, but rather the termination of a non-discretionary investment advisory relationship between Conversant Capital LLC ("Conversant Capital") and a former limited partner of CPIF Sparti SAF, L.P., a Delaware limited partnership ("CPIF SAF"), which former limited partner previously received a distribution of shares of Common Stock in connection with its withdrawal from CPIF SAF. As a result of the termination of that advisory relationship, Conversant Capital and Michael Simanovsky (together, the "Reporting Persons") have ceased to have any interest in shares of Common Stock that may be held by such former CPIF SAF limited partner.
- 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.
Key Figures
Common shares disposed (restructuring): 100,373 shares
Transaction date: September 2, 2026
Reporting persons: 2
+1 more
4 metrics
Common shares disposed (restructuring)
100,373 shares
Reduction in common stock tied to advisory relationship termination on September 2, 2026
Transaction date
September 2, 2026
Date of restructuring-related disposition of 100,373 SNDA shares
Reporting persons
2
Michael Simanovsky and Conversant Capital LLC reported on this Form 4
Restructuring transactions
1
One code J other acquisition or disposition transaction reported
Key Terms
non-discretionary investment advisory relationship, beneficial owner, pecuniary interest, limited partner, +1 more
5 terms
non-discretionary investment advisory relationship financial
"The reduction in shares ... reflects the termination of a non-discretionary investment advisory relationship"
beneficial owner financial
"each of Mr. Simanovsky and Conversant Capital may be deemed a beneficial owner of these securities"
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.
pecuniary interest financial
"each disclaims such beneficial ownership except to the extent of his or its pecuniary interest therein"
limited partner financial
"a former limited partner of CPIF Sparti SAF, L.P., a Delaware limited partnership"
A limited partner is an investor in a pooled investment vehicle—such as a private equity, venture capital, or real estate fund—who provides capital but does not take part in day‑to‑day management and whose financial responsibility is capped at the amount invested. For investors, being a limited partner matters because it defines how much control they have, how much risk they bear, and how returns are distributed; think of a limited partner as a silent co‑owner who shares in profits and losses while leaving operations to the fund managers.
Section 16 of the Securities Exchange Act of 1934 regulatory
"may be considered a director of the Issuer for purposes of Section 16 of the Securities Exchange Act of 1934"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
FAQ
What insider transaction did SNDA disclose for September 2, 2026?
The filing reports a restructuring-related disposition of 100,373 shares of common stock tied to an advisory relationship ending with a former limited partner of CPIF Sparti SAF, L.P., rather than a market sale of shares.
Who are the reporting persons on the SNDA Form 4?
The reporting persons are Michael Simanovsky and Conversant Capital LLC. The remarks explain that, based on their relationships with Conversant Capital representatives on the board, each may be considered a director and ten percent owner for Section 16 purposes.
Was the SNDA insider transaction made under a Rule 10b5-1 trading plan?
No. The Form 4 indicates that no Rule 10b5-1 plan is reported in connection with the disclosed transactions.
AI-generated analysis. How Rhea-AI works. Not financial advice.
