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Cineverse Corp. (NASDAQ:CNVS), a media company with a market capitalization of $64 million and strong revenue growth of 77% over the last twelve months, has entered into a new employment agreement with Chief Financial Officer Mark Lindsey, according to a press release statement based on a recent SEC filing. InvestingPro analysis indicates the company maintains a healthy financial position with moderate debt levels and positive profitability metrics.
The agreement, effective as of September 14, 2025, supersedes Lindsey’s prior contract and is set to run through September 13, 2027, with an automatic one-year renewal unless either party provides written notice at least 90 days before the term ends.
Under the new terms, Lindsey will continue as CFO with an annual base salary of $350,000. He is eligible for a target bonus of $175,000 under the company’s Management Annual Incentive Plan, contingent on goals set by the Compensation Committee. Additionally, Lindsey will receive restricted stock units for 71,699 shares of Cineverse common stock under the company’s 2017 Equity Incentive Plan. He will also be eligible to participate in all benefit plans and programs offered to senior executives.
The agreement outlines severance provisions in the event of termination. If Lindsey is terminated without cause or resigns for good reason, he is entitled to 12 months of base salary. In the case of a qualifying termination within two years following a change in control of the company, Lindsey would receive a lump sum payment equal to two times his annual base salary plus his target bonus for the year of termination.
The company filed the employment agreement as an exhibit with the SEC. Cineverse Corp. is headquartered in New York and its Class A common stock is listed on the Nasdaq Stock Market under the symbol CNVS.
In other recent news, Cineverse Corp reported a 22% year-over-year increase in revenue for the first quarter of fiscal year 2026, reaching $11.1 million. Despite this growth, the company faced a net loss of $3.5 million and an adjusted EBITDA of -$2.1 million. Additionally, Cineverse announced the integration of Fabric Data’s Origin platform into its AI-powered cinematic search engine, cineSearch, expanding its capabilities to include content from over 500 streaming services across English-speaking territories. This development aims to enhance the search engine’s reach beyond the 63 U.S.-based platforms it previously supported. The company’s horror-comedy film "The Toxic Avenger Unrated" has also made headlines by grossing over $2 million in domestic box office revenue since its wide release. The film has been well-received, earning an 84% score on Rotten Tomatoes from both critics and audiences. These recent developments highlight Cineverse’s ongoing efforts to expand its market presence and content offerings.
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