Form 4: NXG Cushing Midstream Energy Fund CEO Acquires Shares Through Rights Offering

John M. Musgrave, CEO of NXG Cushing Midstream Energy Fund, acquired 773 common shares at $41.80 each through a rights offering and also owns 79.1032 shares through a dividend reinvestment plan.

Summary

• John M. Musgrave, the CEO and President of NXG Cushing Midstream Energy Fund, acquired 773 common shares.
• The shares were purchased at a price of $41.80 each.
• The acquisition was made through the exercise of rights in the Fund's transferrable rights offering.
• The rights offering expired on November 14, 2024.
• The number of shares acquired was confirmed on November 21, 2024, after pro-ration and allocation.
• Musgrave also owns 79.1032 shares through an Automatic Dividend Reinvestment Plan (DRIP).
• Following the transaction, Musgrave directly owns 3,094.8001 common shares.

Sentiment

Score: 7

Explanation: The document reflects a routine insider transaction following a rights offering, which is generally viewed as a neutral to slightly positive event as it shows management's confidence in the company.

Positives

• The CEO's participation in the rights offering demonstrates confidence in the Fund.
• The acquisition of shares through the DRIP indicates a long-term investment perspective.

Industry Context

This is a routine filing related to insider transactions and is not indicative of any broader industry trends. It reflects the CEO's participation in a rights offering, which is a common method for companies to raise capital.

Comparison to Industry Standards

• Insider transactions are common and are reported in SEC filings.
• Rights offerings are a standard method for companies to raise capital, particularly in the investment fund sector.
• The CEO's participation is not unusual and is similar to other executives participating in their company's rights offerings.

Stakeholder Impact

• The CEO's participation in the rights offering may be viewed positively by shareholders as it demonstrates confidence in the company's future.

Key Dates

Keywords

NXG Cushing Midstream Energy Fund, John M. Musgrave, rights offering, common shares, insider trading, DRIP, dividend reinvestment, share acquisition