SCHEDULE 13D/A: Director Clint Hurt Increases Stake in PRIMEENERGY RESOURCES CORP to 7.3% Amid Share Reduction

Clint Hurt, a director of PRIMEENERGY RESOURCES CORP, has increased his beneficial ownership to 7.3% of the company's common stock, primarily due to a reduction in the issuer's outstanding shares, despite recent share dispositions.

Summary

• Clint Hurt, a director of PRIMEENERGY RESOURCES CORP, beneficially owns 125,763 shares of the company's Common Stock.
• This ownership represents 7.3% of the Issuer's outstanding shares, calculated based on 1,717,500 shares outstanding as of November 14, 2024.
• The increase in Mr. Hurt's beneficial ownership percentage is solely attributed to a reduction in the Issuer's total outstanding shares, rather than new share acquisitions.
• Mr. Hurt disposed of a total of 14,900 shares through open market sales between December 30, 2024, and January 22, 2025.
• The sale prices for these transactions ranged from $214.09 to $234.09 per share.
• Mr. Hurt's beneficial ownership includes 300 shares held directly and 125,463 shares held indirectly through Clint Hurt & Associates, Inc., a private company he controls.

Sentiment

Score: 5

Explanation: Neutral. The filing is a factual disclosure of a director's beneficial ownership changes and share dispositions. While the percentage ownership increased, it was due to a reduction in outstanding shares, and the director also sold shares. There are no explicit positive or negative statements about the company's future prospects or performance.

Positives

• The increase in a director's percentage ownership, even if passive due to share reduction, can be viewed as a continued alignment of interests between the director and existing shareholders.

Negatives

• Mr. Hurt, a director, disposed of a significant number of shares (14,900) over a short period, which could be interpreted by some investors as a negative signal, despite being stated for personal investment purposes.

Risks

• No specific risks related to the company's operations, financial health, or future strategy are detailed in this filing, as it primarily concerns beneficial ownership changes and the reporting person's lack of current plans for corporate actions.

Future Outlook

Mr. Hurt has no current plans or proposals for extraordinary corporate transactions, changes in the board or management, capitalization, dividend policy, or corporate structure. However, he explicitly reserves the right to engage in any such transaction, including the selling of the shares listed in this Statement, in the future.

Management Comments

• "Mr. Hurt disposed of the Shares reported in this Statement for personal investment purposes."
• "This Amendment No. 4 is being filed solely to report an increase in the beneficial ownership due to a reduction in the Issuer's outstanding Shares."
• "Mr. Hurt has no current plans or proposals which relate to or would result in: (a) the acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer; (b) an extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) a sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) any material change in the present capitalization or dividend policy of the Issuer; (f) any other material change in the Issuer's business or corporate structure; (g) changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) a class of equity securities of the Issuer becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or (j) any action similar to any of those enumerated above."
• "Mr. Hurt reserves the right to engage in any such transaction, including the selling of the Shares listed in this Statement, in the future."

Industry Context

This filing is a routine disclosure of a director's beneficial ownership changes and does not provide specific insights into broader industry trends or the competitive landscape of the energy sector. It primarily reflects an individual's investment decisions and the impact of the company's share count reduction.

Comparison to Industry Standards

• NA This filing pertains to an individual's beneficial ownership and share transactions, not the company's operational or financial performance. Therefore, direct comparison to industry-specific financial or operational benchmarks is not applicable.

Legal Proceedings

• Mr. Hurt has not been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors) during the past five years.
• Mr. Hurt has not been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction that resulted in a judgment, decree, or final order enjoining further violations of, or prohibiting or mandating activities subject to, federal or state securities laws, or finding any violation with respect to such laws, during the past five years.

Stakeholder Impact

• Shareholders: The disposition of shares by a director could be interpreted differently by investors, potentially signaling a lack of confidence, though stated as 'personal investment purposes.' The increased percentage ownership due to share reduction might be seen as a slight positive for existing shareholders as it implies a more concentrated ownership by a director.

Next Steps

• Mr. Hurt reserves the right to engage in future transactions involving the Issuer's securities, including selling shares.

Key Dates

Recommendation

Keywords

PRIMEENERGY RESOURCES CORP, Clint Hurt, Schedule 13D, beneficial ownership, common stock, share disposition, director stake, SEC filing, share count reduction