Torres Mark 4

What Happened Mark Torres, Cineverse Corp.'s Chief People Officer, reported an open-market purchase of 25,000 shares of Class A common stock on February 17, 2026 at $2.00 per share, for a total cost of $50,000. The filing is a purchase (transaction code P), which is generally viewed as a direct acquisition of stock rather than an option exercise or award.

Key Details

• Transaction date and price: February 17, 2026 — 25,000 shares at $2.00 each ($50,000 total).
• Transaction type: Open-market or private purchase (reported as P).
• Shares owned after transaction: Not specified in the provided filing summary.
• Filing timeliness: Reported on February 17, 2026 (filed same day in this record).
• Relevant footnotes describe existing equity awards and vesting schedules for Mr. Torres (they relate to prior grants, not this purchase):
  • F1: 66,667 restricted shares included in holdings; vesting: 33,333 on Apr 25, 2026 and 33,334 on Apr 25, 2027.
  • F2: Some stock appreciation rights (SARs) — 2,778 vested on Feb 17 of 2022, 2023 and 2024.
  • F3: Additional SARs — 4,167 vest on May 16 of 2024, 2025 and 2026.
  • F4: RSUs equal to shares; 33,333 vest on Apr 25, 2026 and 33,334 on Apr 25, 2027.
  • F5: RSUs with vesting of 25,607 on May 1 of 2026 and 2027, and 25,606 on May 1, 2028.
  • F6: RSUs with vesting of 22,254 on Oct 8 of 2026 and 2027, and 22,255 on Oct 8, 2028.

Context

• Purchases by insiders are often watched as a signal of confidence but do not prove future performance; this was a relatively modest $50k buy.
• Footnoted items refer to previously granted SARs and RSUs that vest over time; RSUs convert to shares when they vest, and SARs provide value tied to stock-price appreciation.
• This transaction is a straightforward buy (not an option exercise, gift, or tax-related withholding).