Form 4: Peter Doyle Reports Beneficial Ownership Changes in Horizon Kinetics Holding Corp Following Merger

Peter Doyle, a Director, 10% Owner, and Vice-President of Horizon Kinetics Holding Corp, reports changes in beneficial ownership of common stock following the merger with Scott's Liquid Gold-Inc.

Summary

• Peter Doyle, a Director, 10% Owner, and Vice-President of Horizon Kinetics Holding Corp [HKHC], filed a Form 4 on September 4, 2024, reporting changes in beneficial ownership.
• The earliest transaction date reported is August 2, 2024.
• Doyle directly acquired 25 shares of Common Stock at $25.2 per share on August 2, 2024.
• Following the reported transaction, Doyle directly owns 880,582 shares of Common Stock.
• Doyle also indirectly owns 8,216,437 shares through Horizon Common Inc., 823,863 shares through FRMO Corp., 6,900 shares through Kinetics Institutional Partners LP, 5,810 shares through Kinetics Partners LP and 951 shares through Horizon Kinetics Asset Management LLC.
• The changes in ownership are related to the merger between Horizon Kinetics LLC and Scott's Liquid Gold-Inc (HKHC) on August 1, 2024.
• Most of the shares received in connection with the merger are not currently available for trading.
• Doyle disclaims beneficial ownership over certain shares except to the extent of his pecuniary interest.

Sentiment

Score: 6

Explanation: The document is a standard regulatory filing, indicating a neutral sentiment. The merger is a positive event, but the restrictions on trading some shares temper the overall sentiment.

Positives

• The merger between Horizon Kinetics LLC and Scott's Liquid Gold-Inc has resulted in a significant increase in Doyle's shareholdings.

Negatives

• A significant portion of the shares received in the merger are not currently available for trading, limiting immediate liquidity.

Risks

• The unavailability of a large portion of the shares for trading could pose a liquidity risk for Doyle.
• Doyle's disclaimer of beneficial ownership over a portion of the shares could indicate potential complexities in ownership structure.

Future Outlook

The document does not contain specific forward-looking statements or guidance.

Management Comments

• Mr. Doyle disclaims beneficial ownership except to the extent of his pecuniary interest.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to the market.

Comparison to Industry Standards

• Form 4 filings are a regulatory requirement for insiders of publicly traded companies in the United States, ensuring compliance with SEC regulations.
• The reporting of beneficial ownership is consistent with industry standards for transparency and disclosure.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders of Horizon Kinetics Holding Corp.
• The merger between Horizon Kinetics LLC and Scott's Liquid Gold-Inc could impact employees of both entities.

Key Dates