Form 4: Hennessy Advisors Inc. Director Teresa M. Nilsen Reports Stock Sales

Teresa M. Nilsen, President, COO, and Secretary of Hennessy Advisors Inc., reports the sale of common stock held in accounts for her children.

Summary

• Teresa M. Nilsen, a Director, President, COO, and Secretary of Hennessy Advisors Inc. (HNNA), filed a Form 4 detailing changes in beneficial ownership.
• On March 20, 2025, she sold 1,860 shares of common stock at a weighted average price of $10.4639, with prices ranging from $10.4000 to $10.5000.
• On March 21, 2025, she sold 3,000 shares at a weighted average price of $10.3756, with prices ranging from $10.3600 to $10.4200.
• On March 24, 2025, she sold 3,000 shares at a weighted average price of $10.5042, with prices ranging from $10.4500 to $10.5550.
• These shares were held in accounts in the names of two of the reporting person's children, and were sold at the discretion of these children.
• Following these transactions, Nilsen directly owns 144,123 shares and indirectly owns 21,425 shares FBO children and 1,518 shares by spouse's IRA.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting stock sales by an insider. It doesn't inherently convey positive or negative sentiment, but rather provides factual information about transactions.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. These filings are closely watched by investors seeking insights into management's perspective on the company's stock.

Stakeholder Impact

• Shareholders may be interested in the transactions of company insiders as an indicator of management's confidence in the company.
• The impact on other stakeholders is likely minimal, as these are personal transactions of an officer.

Key Dates

Keywords

Form 4, Beneficial Ownership, HNNA, Hennessy Advisors Inc., Stock Sale, Teresa M. Nilsen, Director, Officer