Form 4: NN Inc. Director Transfers Shares for Estate Planning

Director Raynard D. Benvenuti gifts and sells NN Inc. shares for estate planning purposes.

Summary

• On May 29, 2024, Raynard D. Benvenuti, a director of NN Inc., engaged in transactions involving the company's common stock.
• Benvenuti gifted 216,104 shares to the Raynard Benvenuti 2009 Revocable Trust.
• The trust then sold 236,104 shares at a price of $3.14 per share.
• These transactions were conducted for estate planning purposes.
• Following these transactions, Benvenuti directly owns 29,880 shares and indirectly owns 291,104 shares through Benvenuti Holdings LLC.

Sentiment

Score: 6

Explanation: The document reflects routine insider transactions for estate planning purposes, which is neither particularly positive nor negative for the company's outlook.

Industry Context

This filing reflects standard insider transactions related to estate planning, which are common among corporate executives and directors. It doesn't necessarily indicate a change in the company's operational outlook.

Related Party Transactions

• The transactions involve a gift to and sale by the Raynard Benvenuti 2009 Revocable Trust, of which Raynard Benvenuti is co-trustee and a beneficiary.
• The trust sold shares to Benvenuti Holdings LLC, of which Raynard Benvenuti is the sole general managing member.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in beneficial ownership, but the overall impact is likely minimal as it is related to estate planning.

Key Dates