Form 4: KLX Energy Services Holdings: Denham Capital Affiliates Distribute Shares In-Kind

Greene's Holding Corporation distributed shares of KLX Energy Services Holdings to Greene's Investment Holdings LLC in an in-kind transaction.

Summary

• On March 11, 2024, Greene's Holding Corporation (GHC) made an in-kind distribution of 800,962 shares.
• 630,541 of these shares were distributed to Greene's Investment Holdings LLC (GIH).
• This transfer was exempt from Section 16 of the Securities Exchange Act of 1934, pursuant to Rule 16a-13.
• Stuart D. Porter and related entities, including Denham Capital Management, may be deemed beneficial owners of these shares.
• The reporting persons disclaim beneficial ownership of these securities beyond their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing (Form 4) detailing a share distribution. It doesn't contain information that would significantly sway investor sentiment positively or negatively.

Industry Context

This filing reflects changes in beneficial ownership, which is a common occurrence in publicly traded companies, especially those with significant institutional ownership. It doesn't necessarily indicate a change in the company's operational performance or strategic direction.

Related Party Transactions

• The in-kind distribution from Greene's Holding Corporation to Greene's Investment Holdings LLC constitutes a related party transaction due to the affiliated nature of these entities.

Stakeholder Impact

• The share distribution may have a minor impact on shareholders due to the change in ownership structure, but it is unlikely to significantly affect employees, customers, suppliers, or creditors.

Key Dates