Form 4: MFN Partners Sells 1,075,000 Shares of CNX Resources Corp

MFN Partners, a 10% owner of CNX Resources Corp, sold 1,075,000 shares of common stock at a weighted average price of $31.09 on January 6, 2025.

Summary

• MFN Partners, LP, along with related entities and individuals, reported the sale of 1,075,000 shares of CNX Resources Corp common stock on January 6, 2025.
• The shares were sold at a weighted average price of $31.09, with individual transaction prices ranging from $30.62 to $31.28.
• Following the reported transaction, MFN Partners, LP beneficially owns 13,925,000 shares of CNX Resources Corp.
• The reporting persons include MFN Partners, LP, MFN Partners GP, LLC, MFN Partners Management, LP, MFN Partners Management, LLC, Michael F. DeMichele, and Farhad Nanji.
• Each reporting person disclaims beneficial ownership of the securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a stock sale. It doesn't inherently convey positive or negative sentiment, but the sale of shares by a significant holder could be interpreted neutrally to slightly negatively depending on the market's perception.

Industry Context

This Form 4 filing indicates a significant transaction by a major shareholder of CNX Resources Corp, which could be of interest to investors monitoring insider activity and potential shifts in ownership.

Stakeholder Impact

• The sale of a significant number of shares by MFN Partners could potentially influence the market price of CNX Resources Corp, impacting shareholders.
• The transaction may be of interest to employees, customers, suppliers, and creditors as it reflects a change in ownership structure.

Key Dates