Form 4: PriceSmart Director Robert E. Price Reports Gift of Shares, Maintains Significant Indirect Ownership
SEC Form 4 Filing
Director Robert E. Price reported gifting shares of PriceSmart Inc. to charitable and family trusts while maintaining significant indirect ownership through various entities.
Summary
- On March 26, 2024, Robert E. Price, a director and potential 10% owner of PriceSmart Inc. (PSMT), reported a transaction involving the company's common stock.
- Price gifted 18,893 shares to the Robert and Allison Price Charitable Trust and received 18,893 shares from the Robert and Allison Price Trust UDT 1/10/75.
- Following the transaction, Price continues to hold a significant number of shares indirectly through several trusts and entities.
- These include the Robert and Allison Price Charitable Trust (416,635 shares), the Robert and Allison Price Trust UDT 1/10/75 (1,116,777 shares), The Price Group LLC (150,511 shares), the David Price Trust UTD 9/22/89 (51,305 shares), Family Trusts (45,000 shares), and RARSD LLC (8,314 shares).
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing, so the sentiment is neutral.
Industry Context
Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.
Stakeholder Impact
- The transaction itself has minimal direct impact on stakeholders.
- The filing provides transparency to shareholders regarding insider transactions.
Key Dates
| Date | Description |
|---|---|
| 01/10/1975 | Date of Robert and Allison Price Trust UDT |
| 09/22/1989 | Date of David Price Trust UTD |
| 03/26/2024 | Date of transaction: gift of shares to charitable trust and receipt of shares from family trust |
| 03/27/2024 | Date of signature on the Form 4 filing |
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