Form 4: Major Shareholder Divests KLX Energy Services Holdings Stock, Ceases Section 16 Reporting

Geveran Investments Ltd, Famatown Finance Ltd, and related entities have sold over 317,000 shares of KLX Energy Services Holdings, Inc. common stock across multiple transactions in late June and early July 2025, and will no longer file Section 16 reports.

Summary

• Famatown Finance Limited disposed of a total of 193,800 shares of KLX Energy Services Holdings, Inc. common stock across six transactions between June 20, 2025, and June 27, 2025, with prices ranging from $2.000 to $2.617 per share.
• Geveran Investments Limited disposed of a total of 123,661 shares of KLX Energy Services Holdings, Inc. common stock across two transactions on June 27, 2025, and July 1, 2025, at prices of $2.032 and $2.000 per share, respectively.
• The combined total of shares disposed by Famatown Finance Limited and Geveran Investments Limited is 317,461 shares.
• Following these transactions, Famatown Finance Limited's direct beneficial ownership of KLX Energy Services Holdings, Inc. common stock is 0 shares, while Geveran Investments Limited's direct beneficial ownership is 322,339 shares.
• C.K. Limited, as the trustee of two trusts settled by Mr. John Fredriksen, indirectly holds all shares of Greenwich Holdings Limited, Famatown Finance Limited, and Geveran Investments Limited, and is therefore deemed to beneficially own the shares held by these entities.
• The Reporting Persons (Geveran Investments Ltd, Famatown Finance Ltd, Greenwich Holdings Ltd, and C.K. Ltd) are no longer subject to Section 16 reporting requirements for transactions in KLX Energy Services Holdings, Inc. equity securities, as Gunnar Eliassen, a director of the Issuer, is no longer deemed related to them.

Sentiment

Score: 3

Explanation: The sentiment is negative due to significant insider selling by a major shareholder and the subsequent cessation of future reporting, which reduces transparency for investors.

Negatives

• Significant insider selling by a 10% owner and related entities, totaling over 317,000 shares, could signal a lack of confidence in the company's future prospects.
• The cessation of Section 16 reporting by these significant shareholders reduces transparency for investors regarding future changes in their beneficial ownership.

Risks

• The substantial divestment by a major shareholder could be interpreted negatively by the market, potentially leading to downward pressure on the stock price.
• Reduced transparency due to the cessation of Section 16 reporting by these entities means investors will have less insight into future ownership changes by this significant shareholder group.

Future Outlook

No forward-looking statements or guidance are provided in this beneficial ownership report.

Management Comments

• Gunnar Eliassen, a director of the Issuer, is no longer a partner of Seatankers Services (UK) LLP and may no longer be deemed to be related to the Reporting Persons.
• As a result, the Reporting Persons are no longer subject to Section 16 in connection with their transactions in the equity securities of the Issuer and therefore will no longer report any such transactions on Form 4 or Form 5.

Industry Context

This filing is specific to changes in beneficial ownership by a major shareholder and does not provide broader industry context or trends.

Management Changes

Corporate Governance

Related Party Transactions

• The reported dispositions of common stock by Famatown Finance Limited and Geveran Investments Limited are related party transactions, as these entities are part of a group indirectly controlled by trusts settled by Mr. John Fredriksen, with C.K. Limited acting as trustee.
• The beneficial ownership structure involves C.K. Limited as trustee of two trusts settled by Mr. John Fredriksen, which indirectly hold all shares of Greenwich Holdings Limited, Famatown Finance Limited, and Geveran Investments Limited.

Stakeholder Impact

• Shareholders may perceive the significant insider selling as a negative signal regarding the company's future performance.
• Investors will experience reduced transparency regarding future beneficial ownership changes by this significant shareholder group due to the cessation of Section 16 reporting.

Next Steps

• The Reporting Persons (Geveran Investments Ltd, Famatown Finance Ltd, Greenwich Holdings Ltd, and C.K. Ltd) will no longer file Section 16 reports (Form 4 or Form 5) for transactions in KLX Energy Services Holdings, Inc. equity securities.

Key Dates

Recommendation

Keywords

KLX Energy Services Holdings, KLXE, SEC Form 4, beneficial ownership, insider trading, stock sale, Geveran Investments, Famatown Finance, John Fredriksen, Section 16, share divestment