DTI.NASDAQDrilling Tools International CORP

Form 4: Drilling Tools International Director Reports Share Distribution

Sentiment:

SEC Form 4 Filing

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Director Charles Richard Vermillion Jr. reports a distribution of 36,000 common shares from MV Partners I, LP, where he is the sole owner and Chairman of the Board of Directors of the general partner.

Summary

  • Charles Richard Vermillion Jr., a director of Drilling Tools International Corp, reported a transaction involving the distribution of company shares.
  • On November 20, 2024, MV Partners I, LP distributed 36,000 shares of Drilling Tools International common stock to one of its limited partners.
  • Mr. Vermillion is the sole owner and Chairman of the Board of Directors of MV Partners, Inc., the general partner of MV Partners.
  • Mr. Vermillion disclaims beneficial ownership of the shares held by MV Partners, except for his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, and there is no indication of positive or negative sentiment.

Management Comments

  • Mr. Vermillion disclaims any beneficial ownership of any shares of Common Stock held by MV Partners, other than his pecuniary interest therein.

Industry Context

This is a routine filing related to changes in beneficial ownership by a company director, which is common in the corporate world.

Comparison to Industry Standards

  • Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, such as directors, and are required by the SEC.
  • The transaction is a distribution of shares from a limited partnership to its partners, which is a common practice in private investment structures.
  • The disclaimer of beneficial ownership, except for pecuniary interest, is a standard legal practice to clarify the nature of ownership.

Stakeholder Impact

  • The transaction has a minimal impact on shareholders as it is a distribution within a private partnership and does not involve a sale on the open market.

Key Dates

DateDescription
11/20/2024Date of the share distribution by MV Partners I, LP.
11/27/2024Date the Form 4 was signed by C. Richard Vermillion, Jr.

Keywords

Drilling Tools International, DTI, share distribution, beneficial ownership, Form 4, director, MV Partners I LP

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