Form 4: HF Foods Group Inc.: Ni Zhou Min Transfers Shares to Settle Legal Action
SEC Form 4
Ni Zhou Min, a director and 10% owner of HF Foods Group Inc., transferred 1,997,423 shares of common stock back to the company on December 1, 2023, as part of an amendment to a settlement agreement.
Summary
- On December 1, 2023, Ni Zhou Min transferred 1,997,423 shares of HF Foods Group Inc. common stock back to the company.
- This transfer was part of an amendment to a Stipulation of Settlement related to a legal action: Bishop v. Ni, et al. C.A. No. 2022-0736-JTL.
- The amendment, effective November 1, 2023, involved Mr. Ni, HF Foods Group, Inc., Chan Sin Wong, and James C. Bishop.
- Mr. Ni transferred all rights to the shares, free of encumbrances, as a 'Share Payment'.
- Following the transaction, Mr. Ni directly owns 3,555,673 shares of common stock and indirectly owns 15,879 shares through his spouse.
Sentiment
Score: 5
Explanation: The document describes a legal settlement and share transfer, which is neutral in sentiment. The impact on the company depends on the specifics of the legal issues and the market's reaction.
Industry Context
Share transfers related to legal settlements are not uncommon, especially when addressing shareholder disputes or governance issues. The impact on the company's stock depends on the size of the transfer relative to the total outstanding shares and the market's perception of the underlying legal issues.
Legal Proceedings
- The document references a legal action: Bishop v. Ni, et al. C.A. No. 2022-0736-JTL, which was settled.
Stakeholder Impact
- The share transfer could potentially impact shareholders depending on the market's perception of the settlement and its implications for the company's governance.
Key Dates
| Date | Description |
|---|---|
| 2022-0736-JTL | Reference to the case number Bishop v. Ni, et al. C.A. No. 2022-0736-JTL |
| 2023-11-01 | Effective date of the Amendment to the Stipulation of Settlement. |
| 2023-12-01 | Date of the share transfer from Ni Zhou Min to HF Foods Group Inc. |
| 2025-05-07 | Date of signature of the reporting person. |
Keywords
HF Foods Group Inc., Ni Zhou Min, Share Transfer, Settlement, Common Stock, Beneficial Ownership, Legal Action
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