Magnetar Financial LLC 4

What happened Magnetar Financial LLC, reported as a 10% owner of CoreWeave, settled a variable prepaid forward contract on June 22, 2026 and delivered a total of 68,600 shares of CoreWeave Class A common stock to the counterparty. The contract (entered Oct 8, 2025) specified a floor of $120 and a cap of $190; because the settlement price (Nasdaq close on June 18, 2026) was $117.95 (below the $120 floor), the agreement required delivery of all pledged shares. Using the $117.95 settlement price, the delivered shares are roughly worth $8.09 million. The Form 4 reports these as “other disposition” (derivative settlement) entries, several shown with $0 per-share because the transfer settled the derivative.

Key Details

• Transaction date: June 22, 2026 (report filed June 23, 2026)
• Shares delivered: 68,600 total (sum of multiple fund-level deliveries)
• Implied value at settlement price ($117.95): ≈ $8.09 million
• Form 4 code: “J” (other acquisition/disposition) — settlement of a variable prepaid forward
• Contract terms noted: Floor = $120, Cap = $190; Settlement Price (June 18 close) = $117.95 → all pledged shares deliverable
• Securities were held across Magnetar-affiliated funds (examples in footnotes include Magnetar Constellation Master Fund, Magnetar Lake Credit Fund, Magnetar Longhorn Fund, Magnetar SC Fund, Magnetar Capital Master Fund, Purpose Alternative Credit Funds, etc.)
• The filing notes the shares were pledged to secure the contract, Magnetar retained voting/dividend rights during the pledge, and then transferred all pledged shares to the counterparty.
• Shares owned after the transaction: not specified in this Form 4.

Context This was an institutional derivative settlement (prepaid forward) by a large creditor/investor, not an executive open-market sale — it reflects closing a previously arranged financing/derivative position rather than a straightforward market trade. Derivative settlements often appear on Form 4 with $0 per-share entries and are informational about contract settlement, not necessarily about current management sentiment.