4/A: GSIT Director Amends Stock Ownership Filing

GSI Technology Director Jack A. Bradley amended a Form 4 filing to clarify that 3,000 shares were purchased by a family trust, not directly.

Summary

• An amendment to a previously filed Form 4 was submitted.
• The amendment corrects the nature of beneficial ownership for 3,000 shares of GSI Technology Inc. common stock.
• The original filing on February 18, 2016, inadvertently reported a direct purchase by Director Jack A. Bradley.
• The amendment clarifies that The Bradley-Richards Family Trust purchased the 3,000 shares.
• The shares were acquired on February 18, 2016, at a price of $3.55 per share.
• Following the reported transaction, 3,000 shares are beneficially owned indirectly by The Bradley-Richards Family Trust.

Sentiment

Score: 5

Explanation: Neutral. This is an administrative correction of a past transaction, neither positive nor negative for the company's operations or financial health. It simply rectifies a record.

Positives

• Clarifies beneficial ownership, ensuring an accurate public record of insider transactions.

Negatives

• An initial error in reporting required an amendment, indicating a minor administrative oversight.

Future Outlook

NA

Industry Context

This filing is an administrative correction of an insider transaction and does not provide broader industry context or trends.

Corporate Governance

Related Party Transactions

• The transaction involves The Bradley-Richards Family Trust, which is considered a related party to Director Jack A. Bradley, as it is a family trust.

Stakeholder Impact

• Shareholders: Provides clearer and more accurate information regarding insider ownership, enhancing transparency.
• Regulatory Authorities: Ensures compliance with Section 16(a) of the Securities Exchange Act of 1934 by correcting beneficial ownership disclosure.

Key Dates

Keywords

GSI Technology, GSIT, SEC Form 4/A, Insider Trading, Beneficial Ownership, Director Stock Purchase, Family Trust, Amendment, Corporate Governance