Form 4: Horizon Kinetics CEO Murray Stahl Reports Share Transactions and Beneficial Ownership

Horizon Kinetics CEO Murray Stahl reported acquiring shares and disclosing beneficial ownership, including shares held indirectly through various entities.

Summary

• Murray Stahl, CEO and CIO of Horizon Kinetics Holding Corp, filed a Form 4 detailing his recent transactions and beneficial ownership of the company's stock.
• On November 29, 2024, Mr. Stahl acquired 8 shares of common stock at $39.50 per share directly and 6 shares indirectly.
• Following these transactions, Mr. Stahl's direct holdings amount to 248,698 shares, with indirect holdings totaling 8,216,497 shares.
• These indirect holdings are through various entities including Horizon Common Inc., FRMO Corp., Kinetics Institutional Partners LP, Kinetics Partners LP, and Horizon Kinetics Asset Management LLC.
• Many of the shares reported were received on August 1, 2024, in connection with the merger between Horizon Kinetics LLC and Scotts Liquid Gold-Inc.
• A significant portion of these shares are not available for trading, with Mr. Stahl disclaiming beneficial ownership over many of them, except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, and does not contain any information that would be considered positive or negative from an investment perspective. It is a neutral disclosure of transactions and ownership.

Management Comments

• Mr. Stahl disclaims beneficial ownership over many of the indirectly held shares, except to the extent of his pecuniary interest.

Industry Context

This filing is a routine disclosure of insider transactions and beneficial ownership, which is common for publicly traded companies. It provides transparency into the holdings of key executives.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the US, ensuring transparency of insider transactions.
• The level of detail provided in this filing is consistent with SEC requirements for reporting beneficial ownership.
• The disclaimers of beneficial ownership are also standard practice when executives have indirect control over shares through various entities.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the ownership of the company's stock by its CEO.

Key Dates

Keywords

Form 4, Beneficial Ownership, Share Transactions, Horizon Kinetics, Murray Stahl, HKHC, Merger, Insider Trading