Form 4: Anterix Director William Heard Reports Stock Disposals Through Heard Capital LLC

Director William Heard reports multiple disposals of Anterix Inc. common stock through Heard Capital LLC between February and March 2025.

Summary

• William Heard, a director of Anterix Inc., reported the disposal of shares of common stock through Heard Capital LLC.
• The transactions occurred between February 14, 2025, and March 21, 2025.
• A total of 35,400 shares were disposed of across multiple transactions.
• The prices per share ranged from $37.97 to $41.67.
• Following these transactions, Heard Capital LLC indirectly holds 1,716,738 shares.
• William Heard disclaims beneficial ownership of these securities except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing reporting stock disposals. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about transactions.

Management Comments

• The dispositions reported herein were executed under the trading discretion of an individual portfolio manager at Heard Capital LLC without any instruction from or knowledge of the Reporting Person.
• The Reporting Person has promptly reported the transactions after becoming aware of them.
• Each of Heard Capital LLC and the Reporting Person disclaims beneficial ownership of the securities to which this filing relates for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, except to the extent of his or its pecuniary interest therein.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders of a company (officers, directors, or any individuals or entities that beneficially own more than 10% of a company's stock) trade in the company's securities; they provide transparency to the market regarding insider transactions.

Comparison to Industry Standards

• It's common for directors to have investment managers who make trading decisions independently, as stated in the document.
• The disclaimer of beneficial ownership, except for pecuniary interest, is a standard legal practice to avoid undue liability.
• Comparable companies in the telecommunications or infrastructure sectors often see similar filings from their directors and officers.

Stakeholder Impact

• The stock disposals could potentially influence investor sentiment, although the impact is likely to be minimal given the relatively small number of shares involved compared to the total outstanding shares.
• The disclosure ensures transparency for shareholders regarding insider trading activities.

Key Dates

Keywords

Anterix, William Heard, Heard Capital LLC, stock disposal, Form 4, ATEX, beneficial ownership, director