Form 4: IDT Corp Chairman Howard Jonas Transfers Shares from Annuity Trust

Howard Jonas, Chairman of IDT Corp, reports a transfer of Class B Common Stock from an annuity trust to his direct holdings.

Summary

• On April 5, 2024, Howard Jonas, Chairman of IDT Corp, reported a transaction involving Class B Common Stock.
• 358,493 shares were transferred from the HSJ 2024 IDT Annuity Trust to Jonas's direct holdings.
• The reporting person also has indirect ownership of Class B Common Stock through various trusts and entities, including HSJ 2022 Annuity Trust (78,016 shares), HSJ 2019 Remainder Trust (1,811,711 shares), Chartwell Holding LLC (342,779 shares), The Jonas Foundation (197,641 shares), and 401(k) Plan (3,864 shares as of March 31, 2024).
• Additionally, Jonas indirectly owns 1,574,326 shares of Class A Common Stock through IDT A Partners, L.P.

Sentiment

Score: 5

Explanation: This is a neutral regulatory filing. It simply reports a transaction and doesn't inherently indicate positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. This filing indicates a shift in the form of ownership for Howard Jonas's IDT Corp shares.

Stakeholder Impact

• The transfer of shares may have a minor impact on shareholders, as it changes the form of ownership for a significant shareholder but does not represent a sale of shares to the open market.

Key Dates