Form 4: IDT Corp Chairman Howard Jonas Transfers Shares to Dynasty Trust

Chairman Howard Jonas transferred 211,269 shares of IDT Corp Class B Common Stock from a marital trust to a dynasty trust for his children.

Summary

• Howard S. Jonas, Chairman of IDT Corp, reported a transaction on July 24, 2024, involving Class B Common Stock.
• 211,269 shares were transferred from the Debbie Y. Jonas 2018 Marital Trust to the Debbie Y. Jonas 2018 Dynasty Trust.
• The Marital Trust benefits Howard Jonas and his wife, while the Dynasty Trust benefits his children and their heirs.
• Following the transaction, the Debbie Y. Jonas 2018 Dynasty Trust now holds 211,269 shares.
• Howard Jonas also indirectly owns shares through several other 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), 401(k) Plan (3,864 shares), and IDT A Partners, L.P. (1,574,326 shares).

Sentiment

Score: 5

Explanation: This is a routine disclosure of a stock transfer between trusts, with no inherent positive or negative implications for the company's performance.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders of a company (such as officers, directors, or major shareholders) buy or sell the company's securities. This filing indicates changes in beneficial ownership.

Key Dates