Form 4: B. Riley Financial Entities Report Disposals and Holdings in Synchronoss Technologies
SEC Form 4 Filing
B. Riley Financial, along with its subsidiaries and Bryant R. Riley, reported transactions involving Synchronoss Technologies common stock, including disposals and holdings, as disclosed in a Form 4 filing.
Summary
- B. Riley Financial, Inc., B. Riley Securities, Inc., BRF Investments, LLC, and Bryant R. Riley jointly filed a Form 4 detailing changes in beneficial ownership of Synchronoss Technologies Inc. common stock.
- On August 7, 2024, 520 shares of common stock were disposed of at a price of $11.2.
- On August 8, 2024, 40,578 shares were disposed of at $11.2417.
- On August 9, 2024, 57,466 shares were disposed of at $11.4494.
- Following these transactions, BRF Investments, LLC indirectly beneficially owns 1,312,548 shares.
- B. Riley Securities, Inc. indirectly beneficially owns 2,740 shares.
- Bryant R. Riley directly owns 49,523 shares.
- Bryant R. Riley, as UTMA custodian, indirectly beneficially owns 273 shares each for Charlie, Susan, Abigail, and Eloise Riley.
- The filing also addresses a reverse stock split of 1-for-9 from December 7, 2023, and corrects previously reported share amounts.
- The reporting parties disclaim beneficial ownership except to the extent of their pecuniary interest.
Sentiment
Score: 5
Explanation: Neutral sentiment as the document is a regulatory filing detailing stock transactions. The disposals could be seen as slightly negative, but without further context, it's difficult to assess the overall impact.
Negatives
- The report indicates disposals of SNCR shares by B. Riley entities.
Management Comments
- Each of BRF, BRS, BRFI, and Bryant R. Riley disclaims beneficial ownership of the outstanding shares of Common Stock reported herein, except to the extent of its/his respective pecuniary interest therein.
Industry Context
Form 4 filings are standard disclosures required by the SEC to provide transparency regarding the transactions of company insiders and significant shareholders.
Stakeholder Impact
- The reported disposals of shares may influence investor sentiment regarding Synchronoss Technologies.
Key Dates
| Date | Description |
|---|---|
| 2023-12-07 | Date of Issuer's Form 8-K filing with the SEC describing a 1-for-9 reverse stock split. |
| 2024-08-07 | Date of transaction where 520 shares of Common Stock were disposed of. |
| 2024-08-08 | Date of transaction where 40,578 shares of Common Stock were disposed of. |
| 2024-08-09 | Date of transaction where 57,466 shares of Common Stock were disposed of. |
| 2024-08-09 | Date of filing of the Form 4. |
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