Form 4: ALLETE INC Director Charles R. Matthews Reports Changes in Beneficial Ownership

Director Charles R. Matthews reports changes in beneficial ownership of ALLETE INC stock, including acquisitions through dividend reinvestment and transfers to revocable trusts.

Summary

• Charles R. Matthews, a director of ALLETE INC, filed a Form 4 detailing changes in his beneficial ownership of the company's stock.
• On June 3, 2024, Matthews acquired 1,742.71 shares of common stock through dividend reinvestment at a price of $0.
• Following the transaction, Matthews directly owns 5,200.03 shares of ALLETE INC.
• Matthews also indirectly owns 250 shares through Revocable Trust (A) and 250 shares through Revocable Trust (B).
• These 500 shares were previously reported as indirectly beneficially owned by a family trust but, on October 16, 2023, were contributed to separate revocable trusts of which the reporting person and his spouse are trustees and beneficiaries.

Sentiment

Score: 6

Explanation: The document reflects routine transactions and doesn't indicate any significant positive or negative sentiment. It's a neutral reporting of changes in ownership.

Positives

• The acquisition of shares through dividend reinvestment indicates confidence in the company's performance.

Industry Context

Form 4 filings are standard practice for company insiders to report changes in their ownership, providing transparency to investors.

Stakeholder Impact

• The changes in beneficial ownership are unlikely to have a significant impact on stakeholders.

Key Dates