Form 4: IDT Corp Chairman Howard S. Jonas Reports Changes in Beneficial Ownership

Howard S. Jonas, Chairman of IDT Corp, reports changes in beneficial ownership of Class A and Class B Common Stock, including transfers to a marital trust and corrections to previously reported transactions.

Summary

• Howard S. Jonas, Chairman of IDT Corp, filed a Form 4 detailing changes in his beneficial ownership of IDT Corp stock.
• On June 14, 2024, Mr. Jonas transferred 211,269 shares of Class B Common Stock from his wife's direct holdings to the Debbie Y. Jonas 2018 Marital Trust.
• The filing also corrects an error where 907 shares were erroneously reported as gifted on May 16, 2024.
• The report details Mr. Jonas's direct and indirect ownership through various trusts and entities, including the HSJ 2022 Annuity Trust, HSJ 2019 Remainder Trust, Chartwell Holding LLC, The Jonas Foundation, IDT A Partners, L.P., and the 401(k) Plan.
• As of May 31, 2024, the 401(k) Plan held 3,864 shares of Class B Common Stock.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing detailing changes in stock ownership. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the stock ownership of company insiders. This filing indicates changes in the holdings of IDT Corp's Chairman.

Related Party Transactions

• Transfer of shares from the Reporting Person's wife's direct holdings to the Debbie Y. Jonas 2018 Marital Trust, a marital trust for the benefit of the Reporting Person and his wife.

Stakeholder Impact

• The changes in beneficial ownership may be of interest to shareholders, as they provide insight into the holdings of a key company insider.

Key Dates