Form 4: Starboard Principal Co LP Adjusts Stake in Acacia Research Corp Through Internal Transfer

Starboard Principal Co LP reports an internal transfer of Acacia Research Corp shares between affiliated entities, with no net change in the overall holdings of the reporting persons.

Summary

• Starboard Principal Co LP, along with related entities and individuals, filed a Form 4 detailing changes in beneficial ownership of Acacia Research Corp (ACTG) shares.
• The report indicates an internal transfer of 290,000 shares from Starboard Value and Opportunity C LP to Starboard X Master Fund Ltd on May 16, 2025, at a price of $3.71 per share.
• This transfer did not affect the aggregate holdings of the Reporting Persons.
• The Reporting Persons collectively hold a significant number of shares through various entities including Starboard Value and Opportunity Master Fund Ltd, Starboard Value and Opportunity S LLC, and others.
• The filing clarifies that each Reporting Person disclaims beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing an internal transfer of shares. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about ownership changes.

Industry Context

This filing reflects the ongoing management of investment positions by Starboard, a well-known activist investment firm. Such filings are common and provide transparency into the ownership structure of publicly traded companies.

Stakeholder Impact

• The internal transfer of shares has minimal direct impact on stakeholders as it does not represent a change in the overall investment by the Reporting Persons.

Key Dates

Keywords

Acacia Research Corp, Starboard Principal Co LP, beneficial ownership, Form 4, share transfer, Starboard Value, ACTG