4/A: AVD Director Amends Beneficial Ownership Filing

An amended SEC filing clarifies the beneficial ownership of American Vanguard Corp. common stock by Director Keith Rosenbloom and Cruiser Capital Advisors, LLC, correcting a previously reported figure.

Summary

• An amendment to a Form 4 filed on October 21, 2024, corrects the number of American Vanguard Corp. common shares beneficially owned by Director Keith M. Rosenbloom and Cruiser Capital Advisors, LLC.
• The original filing inadvertently stated 652,792 shares were indirectly held following a transaction.
• The corrected amount of indirectly held shares is now reported as 789,284.
• The transaction on October 17, 2024, involved a disposition of 411,398 shares due to a client terminating an investment advisory agreement with Cruiser Capital.
• No actual buy or sell transactions occurred related to this change in beneficial ownership.

Sentiment

Score: 7

Explanation: The filing clarifies and corrects an administrative error in a previous report, providing more accurate beneficial ownership data. The 'disposition' of shares was due to a change in advisory agreement rather than a market sale, which is a neutral to slightly positive clarification.

Positives

• Beneficial ownership figures are now clarified, showing a higher indirect holding of 789,284 shares than previously misreported (652,792 shares).
• The disposition of 411,398 shares was due to a change in an advisory agreement, not an actual sale of securities.

Negatives

• An initial error in the Form 4 filing led to an incorrect reporting of beneficial ownership.

Future Outlook

NA

Management Comments

• Cruiser Capital no longer has discretionary investment nor voting authority with respect to 411,398 shares of Common Stock held by a specific SMA client due to the termination of an investment advisory agreement.
• There were no buy or sell transactions involved with the termination of the agreement and no buy or sell transactions related to this report.
• The original Form 4 filed on October 21, 2024, inadvertently reported 652,792 shares indirectly held, which has now been corrected to 789,284 shares.

Industry Context

NA

Related Party Transactions

• Keith M. Rosenbloom, a Director of American Vanguard Corp., is also the Managing Member of Cruiser Capital Advisors, LLC, which advises investment funds and separately managed accounts holding American Vanguard Corp. common stock.
• The reported transaction involves shares managed by Cruiser Capital.

Stakeholder Impact

• Shareholders receive accurate information on insider holdings, correcting a previous misstatement.

Key Dates

Recommendation

This administrative amendment corrects a previous beneficial ownership report. It does not contain new financial performance data, strategic updates, or market-moving transactions that would warrant a change in investment recommendation. The 'disposition' of shares was due to a change in advisory agreement, not a market sale, which is a neutral event.

Keywords

American Vanguard Corp, AVD, SEC Form 4, Beneficial Ownership, Director Holdings, Keith Rosenbloom, Cruiser Capital, Investment Advisory