4/A: Energy Services of America Director Sells Shares, Pays Profit on Short-Swing Transaction

Frank S. Lucente, a director at Energy Services of America CORP, sold 5,000 shares of common stock at $10.30 per share and paid the company $1,860 to cover profits from a short-swing transaction.

Summary

• On August 20, 2024, Frank S. Lucente, a director of Energy Services of America CORP (ESOA), sold 5,000 shares of common stock at a price of $10.30 per share.
• Following the transaction, Mr. Lucente directly owns 287,137 shares of common stock and indirectly owns 38,673 shares through his spouse.
• The sale was matchable against a purchase under Section 16(b) of the Securities Exchange Act of 1934, as amended.
• Mr. Lucente paid Energy Services of America $1,860.00, representing the full amount of profit realized in connection with the short-swing transactions, which includes a purchase reported on February 23, 2024.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it primarily reports a transaction and a subsequent correction of a regulatory issue. The repayment of profits is a negative, but it's a standard procedure.

Negatives

• The director had to pay back profits from a short-swing transaction, indicating a potential violation of Section 16(b) of the Securities Exchange Act of 1934.

Risks

• The short-swing transaction and subsequent repayment of profits could raise concerns about compliance with securities regulations.

Industry Context

This filing is a routine disclosure related to insider trading activities, which are common across all publicly traded companies. The repayment of short-swing profits is a standard procedure to rectify any potential violations of securities laws.

Stakeholder Impact

• The repayment of short-swing profits could reassure shareholders that the company is actively monitoring and addressing potential insider trading issues.

Key Dates