Form 4: B. Riley Financial Chairman Bryant Riley Reports Acquisition of 83,086 Shares of Common Stock

Bryant R. Riley, Chairman and Co-CEO of B. Riley Financial, Inc., reports acquiring 83,086 shares of common stock through a restricted stock unit award.

Summary

• On March 4, 2024, Bryant R. Riley, Chairman and Co-CEO of B. Riley Financial, Inc., acquired 83,086 shares of common stock.
• The acquisition was through a restricted stock unit award that vests in three equal installments on March 15, 2025, March 15, 2026, and March 15, 2027.
• Following the transaction, Riley directly owns 6,861,859 shares of B. Riley Financial, Inc.
• Riley also indirectly owns shares through UTMA accounts for his children and through the B. Riley Financial, Inc. 401(k) Profit Sharing Plan.
• Shares held by the Robert Antin Children Irrevocable Trust have been transferred to a separate Antin family limited liability company.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The acquisition of shares by the Chairman suggests confidence, but it's a routine transaction.

Positives

• The acquisition of shares by the Chairman and Co-CEO could be seen as a positive signal, indicating confidence in the company's future performance.

Future Outlook

The restricted stock units will vest in three equal installments on March 15, 2025, March 15, 2026 and March 15, 2027.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company executives and major shareholders. This filing indicates Bryant Riley's continued investment in B. Riley Financial.

Comparison to Industry Standards

• Monitoring insider transactions is a standard practice in financial analysis.
• Comparing Riley's holdings and transactions to those of executives at similar financial services firms (e.g., Houlihan Lokey, Piper Sandler) can provide context on his level of investment relative to peers.
• Analyzing the vesting schedule of the restricted stock units against typical executive compensation packages in the industry can offer insights into B. Riley's long-term incentive structure.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder sentiment, as it signals confidence from a key executive.

Key Dates