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

Teresa M. Nilsen, President, COO, and Secretary of Hennessy Advisors Inc., reported selling shares held in accounts for her children and gifting shares, according to a Form 4 filing.

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 25, 2025, she sold 3,000 shares of common stock at a weighted average price of $10.5515, with prices ranging from $10.4654 to $10.6000.
• On March 26, 2025, she sold 1,000 shares of common stock at a weighted average price of $10.4716, with prices ranging from $10.4500 to $10.6000.
• On March 27, 2025, she sold 4,000 shares of common stock at a weighted average price of $10.5274, with prices ranging from $10.4001 to $10.7000.
• All shares sold were held in accounts for two of the reporting person's children, and were sold at the discretion of these children.
• On March 27, 2025, she gifted 4,000 shares of common stock.
• Following these transactions, Nilsen directly owns 140,123 shares and indirectly owns 17,425 shares FBO children and 1,518 shares by spouse's IRA.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the document simply reports stock sales and a gift transaction by an insider. There's no inherent positive or negative implication without further context.

Industry Context

Form 4 filings are standard disclosures required by the SEC for company insiders, providing transparency into their trading activities. These filings are closely watched by investors for signals about management's view of the company's prospects.

Stakeholder Impact

• Shareholders may be interested in the insider's transactions as an indicator of management's confidence in the company.
• The transactions themselves are unlikely to have a significant impact on employees, customers, suppliers, or creditors.

Key Dates

Keywords

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