Form 4: Noble Romans Director Herbst Updates Beneficial Ownership After Change in Trading Authority

Director Marcel Herbst updates his beneficial ownership in Noble Romans Inc. due to a change in discretionary trading authority, reducing his reported holdings from 130,000 to 70,000 shares.

Summary

• Marcel Herbst, a director of Noble Romans Inc., filed a Form 4 to update his beneficial ownership of the company's common stock.
• The update reflects a change in discretionary trading authority, leading to a decrease in the number of shares he is deemed to beneficially own.
• As of February 16, 2024, Herbst's reported beneficial ownership is 70,000 shares.
• This includes 10,000 shares held directly and 60,000 shares held in the account of Herbst Capital Management, LLC, for which Herbst Capital Partners, LLC serves as its manager.
• Herbst no longer has trading authority over 60,000 shares held in individual client accounts, which were previously included in his reported beneficial ownership.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't convey positive or negative sentiment about the company's performance or prospects.

Industry Context

Form 4 filings are a routine part of insider trading regulations, providing transparency into the transactions and holdings of company insiders. This filing indicates a change in the director's control over shares, not necessarily a sale or purchase.

Key Dates

Keywords

beneficial ownership, Form 4, Noble Romans Inc, NROM, director, Marcel Herbst, trading authority, Herbst Capital Management, Herbst Capital Partners