Form 4: Harold Keene Reports Ownership Changes in New Peoples Bankshares Inc
SEC Form 4 Filing
Harold Keene, a director and 10% owner of New Peoples Bankshares Inc, reports changes in beneficial ownership of common stock.
Summary
- Harold Keene, a director and 10% owner of New Peoples Bankshares Inc. (NWPP), filed a Form 4 detailing changes in beneficial ownership.
- On June 16, 2023, Keene acquired 2,000 shares of common stock at $2.3 per share, a transaction that was previously unreported due to an administrative oversight.
- On May 14, 2024, Keene acquired 679 shares of common stock at $2.6 per share.
- Following these transactions, Keene directly owns 3,431,208 shares of common stock.
- Keene also indirectly owns 1,092,458 shares through H.L. Keene LLC and 500 shares through the Harold Lynn Keene Trust.
Sentiment
Score: 6
Explanation: The sentiment is neutral. While there's an increase in ownership, the delayed reporting is a minor concern.
Positives
- The reporting person increased their direct ownership in the company.
Negatives
- A transaction from June 16, 2023, was not reported in a timely manner due to an administrative oversight.
Risks
- Administrative oversights in reporting transactions could lead to regulatory scrutiny.
Industry Context
Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions of company insiders. This filing indicates changes in Harold Keene's ownership stake in New Peoples Bankshares Inc.
Stakeholder Impact
- Shareholders are informed about changes in ownership by a significant shareholder and director.
Key Dates
| Date | Description |
|---|---|
| 06/16/2023 | Keene acquired 2,000 shares of common stock at $2.3 per share (transaction was previously unreported). |
| 05/14/2024 | Keene acquired 679 shares of common stock at $2.6 per share. |
| 05/22/2024 | Date of signature for the Form 4 filing. |
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