4/A: Motorcar Parts of America Director Corrects Shareholding After Transaction

Rudolph J. Borneo, a director at Motorcar Parts of America, files an amended Form 4 to correct the number of shares held after a sale transaction on December 13, 2023.

Summary

• Rudolph J. Borneo, a director of Motorcar Parts of America, Inc. (MPAA), filed an amended Form 4 on July 19, 2024, to correct a previously reported transaction.
• The amendment addresses an error in the Form 4 filed on December 14, 2023, which incorrectly stated the total shares held after a sale transaction.
• On December 13, 2023, Mr. Borneo sold 7,166 shares of Common Stock at a price of $8.7869 per share.
• The original filing incorrectly stated his total shares held as 29,890, while the corrected amount is 37,861 shares.

Sentiment

Score: 6

Explanation: The document is a routine correction of a previously filed form, indicating a neutral sentiment. The correction itself doesn't suggest any positive or negative implications for the company's performance.

Negatives

• The initial Form 4 filing on December 14, 2023, contained an error regarding the number of shares held by Mr. Borneo after the transaction.

Industry Context

Form 4 filings are standard practice and are required by the SEC to provide transparency regarding insider transactions in publicly traded companies. Amendments are sometimes necessary to correct errors in initial filings.

Stakeholder Impact

• The correction of the shareholding information ensures accurate representation of insider ownership, which is important for shareholders.

Key Dates