4/A: Fund 1 Investments Corrects Citi Trends Inc. Beneficial Ownership Report

Fund 1 Investments, LLC files an amended Form 4 to correct errors in the previously reported transactions of Citi Trends Inc. stock.

Summary

• Fund 1 Investments, LLC filed an amended Form 4 with the SEC to correct errors in its previous filing regarding changes in beneficial ownership of Citi Trends Inc. (CTRN) stock.
• The original Form 4, filed on June 4, 2024, inadvertently omitted a transaction that occurred on May 31, 2024, and included an incorrect price for a transaction that occurred on June 3, 2024.
• The amendment corrects the prior reporting for those transactions.
• On May 31, 2024, Fund 1 Investments acquired 28,419 shares of common stock at a price of $24.4921 per share.
• On June 3, 2024, Fund 1 Investments acquired 2,000 shares of common stock at a price of $24.851 per share.
• Following these transactions, the total number of shares beneficially owned by the reporting persons is 2,151,438.

Sentiment

Score: 6

Explanation: The document is a routine regulatory filing correcting a previous error. While the error itself is slightly negative, the correction is a positive sign of compliance.

Negatives

• The original Form 4 filing contained errors, requiring an amendment.

Risks

• The need for an amendment suggests potential weaknesses in internal controls or reporting processes.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and major shareholders, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for insiders and large shareholders of publicly traded companies in the United States.
• Similar filings exist in other countries to ensure transparency of ownership and prevent insider trading.
• The information disclosed in Form 4 filings is used by investors to understand the buying and selling activity of company insiders, which can provide insights into their views on the company's prospects.

Stakeholder Impact

• The correction of the Form 4 filing ensures accurate information is available to shareholders and the public.

Key Dates