Form 4: Local Bounti CEO Acquires Shares in Open Market Transaction

Local Bounti's CEO, Craig M. Hurlbert, purchased 3,250 shares of common stock at an average price of $1.812 per share.

Summary

• Craig M. Hurlbert, the CEO of Local Bounti Corporation, acquired 3,250 shares of the company's common stock on December 19, 2024.
• The shares were purchased at a weighted average price of $1.812, with individual trades ranging from $1.765 to $1.8411.
• Following the transaction, Mr. Hurlbert directly owns 314,823 shares and indirectly owns 1,177,386 shares through Wheat Wind Farms, LLC.
• Mr. Hurlbert serves as Member-Manager of Wheat Wind Farms, LLC, giving him voting and dispositive power over the shares held by the entity.

Sentiment

Score: 6

Explanation: The document is neutral in sentiment. It reports a routine transaction by the CEO. The purchase could be seen as a positive signal, but it's not a major event.

Positives

• The CEO's purchase of shares may signal confidence in the company's future prospects.
• The purchase increases the CEO's stake in the company, aligning his interests with those of other shareholders.

Management Comments

• The Reporting Person disclaims beneficial ownership of such shares and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of such shares for purposes of Section 16 or for any other purpose, except to the extent of his pecuniary interest therein.

Industry Context

This is a standard SEC Form 4 filing, which is common when company insiders make transactions in their company's stock. It is a routine disclosure required by law.

Comparison to Industry Standards

• SEC Form 4 filings are a standard practice for publicly traded companies in the United States.
• The transaction is similar to other insider purchases, where executives buy shares in their own company.

Stakeholder Impact

• The share purchase may have a slightly positive impact on shareholder sentiment.

Key Dates

Keywords

Local Bounti Corporation, Craig M. Hurlbert, share purchase, insider trading, common stock, Wheat Wind Farms LLC