Magnetar Financial LLC 4

What Happened

• Magnetar Financial LLC, reported as a 10% owner and investment adviser to multiple Magnetar funds, settled a variable prepaid forward contract on June 22, 2026 and transferred a total of 127,500 shares of CoreWeave, Inc. (Class A common stock) to the contract counterparty. The Form 4 reports the derivative dispositions at $0 (typical for such settlements), but the contract’s settlement price was $117.95 (Nasdaq close on June 18, 2026), implying an economic value of roughly $15.04 million for the delivered shares. Footnotes state the entity transferred all pledged shares to the counterparty.

Key Details

• Transaction date: June 22, 2026 (Form 4 filed June 23, 2026 — timely).
• Shares transferred: 127,500 total (multiple Magnetar funds/accounts; each line item corresponds to a different fund—see footnotes F10–F18).
• Reported price on Form 4: $0.00 for the derivative disposition (code J — “other acquisition or disposition” related to derivative settlement).
• Settlement price used in contract formula: $117.95 (Nasdaq close on June 18, 2026); because this was below the contract’s $130 floor, the contract required delivery of all pledged shares.
• Ownership/role notes: Magnetar Financial is the investment adviser to the listed funds and (per footnotes) disclaims beneficial ownership except to the extent of pecuniary interest; this is institutional fund activity, not an executive personal trade.

Context

• This was a contractual settlement of a prepaid forward (a derivative financing arrangement where pledged shares are delivered per a formula), not an open-market sale by a company insider. Because the settlement price was below the contract floor, all pledged shares were delivered to the counterparty. Institutional derivative settlements like this are driven by prior financing terms and portfolio management, and should be interpreted differently than direct insider purchases or discretionary sales.