Form 4: Lendway Director Nicholas Swenson Reports Changes in Beneficial Ownership

Nicholas Swenson, a director and 10% owner of Lendway, Inc., filed a Form 4 detailing changes in his beneficial ownership of the company's common stock and common stock equivalents.

Summary

• On March 31, 2024, Nicholas Swenson reported changes in his beneficial ownership of Lendway, Inc. securities.
• Swenson acquired 3,300 shares of Common Stock.
• Swenson also acquired 922 Common Stock Equivalents under the Lendway, Inc. Deferred Compensation Plan for Directors, at a price of $5.96 each.
• These Common Stock Equivalents will be settled in Lendway, Inc. common stock upon separation from service or in cash upon a change in control of the company.
• Swenson's indirect ownership includes 139,444 shares held by AO Partners I, L.P., 60,284 shares held by Groveland Capital LLC, and 11,428 shares held by Glenhurst Co.
• Swenson may be deemed part of a Section 13(d) group that collectively owns more than 10% of Lendway's outstanding shares, but he disclaims beneficial ownership of shares held by other members of the group, except to the extent of his pecuniary interest.
• Following the reported transactions, Swenson directly owns 4,196 Common Stock Equivalents and indirectly owns 139,444 shares through AO Partners I, L.P., 60,284 shares through Groveland Capital LLC, and 11,428 shares through Glenhurst Co.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a standard SEC filing detailing changes in ownership. The acquisition of shares and stock equivalents could be seen as a positive sign of confidence, but it's not overwhelmingly positive.

Positives

• The acquisition of Common Stock Equivalents demonstrates Swenson's continued investment in Lendway, Inc.

Future Outlook

The Common Stock Equivalents will be settled (i) in Lendway, Inc. common stock upon a separation from service with the Company or (ii) in cash upon an earlier change in control of the Company.

Industry Context

This filing is a routine disclosure required by the SEC for corporate insiders, providing transparency into their transactions in the company's securities.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.
• The acquisition of shares and stock equivalents by a director could be viewed positively by shareholders.

Key Dates

Keywords

beneficial ownership, Form 4, Lendway, Swenson, common stock, common stock equivalents, director, 10% owner, deferred compensation plan, Section 13(d) group