Form 4: MAK Capital One LLC Sells Champion Homes Stock Following Director's Resignation
SEC Form 4
MAK Capital One LLC and related entities sold shares of Champion Homes, Inc. between September 4th and September 6th, 2024, following the resignation of Michael A. Kaufman from the Issuer's Board of Directors.
Summary
- MAK Capital One LLC, along with related entities MAK Champion Investment LLC and MAK Capital Fund LP, disposed of shares of Champion Homes, Inc. common stock between September 4th and September 6th, 2024.
- The sales occurred at weighted average prices ranging from $88.8729 to $90.1622 per share.
- A total of 283,500 shares were sold during this period.
- Following these transactions, the entities still indirectly beneficially own 2,716,500 shares of Champion Homes, Inc.
- Michael A. Kaufman, a director of Champion Homes, Inc. and managing member of MAK Capital One LLC, resigned from the Issuer's Board of Directors effective September 5, 2024.
- The shares are held by MAK Champion Investment LLC, which is wholly-owned by MAK Capital Fund LP, with MAK Capital One LLC acting as the investment manager of MAK Fund.
Sentiment
Score: 4
Explanation: The document indicates a significant stock sale following a director's resignation, which could be perceived negatively by the market, hence the lower sentiment score.
Industry Context
This activity is typical of investment firms adjusting their holdings based on internal strategies and market conditions. Director resignations can sometimes trigger such adjustments.
Management Changes
| Role | Previous Person | New Person | Effective Date | Reason |
|---|---|---|---|---|
| Director | Michael A. Kaufman | 09/05/2024 | Resignation |
Stakeholder Impact
- Shareholders may react to the stock sale and director resignation.
- The company's stock price could be affected by these transactions.
Key Dates
| Date | Description |
|---|---|
| 09/04/2024 | Sale of 80,000 shares of Common Stock at $90.1622. |
| 09/05/2024 | Michael A. Kaufman resigned from the Issuer's Board of Directors. |
| 09/05/2024 | Sale of 163,500 shares of Common Stock at $90.0139. |
| 09/06/2024 | Sale of 40,000 shares of Common Stock at $88.8729. |
| 09/06/2024 | Date of signature for the report. |
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