4/A: Quantum Corp Director Amends Ownership Filing to Reflect Reverse Stock Split

A Quantum Corp director has amended a previous filing to accurately reflect their share ownership following a 1-for-20 reverse stock split.

Summary

• This document is an amendment to a previous Form 4 filing by Quantum Corp director Don Jaworski.
• The amendment corrects the number of shares beneficially owned by the director to reflect a 1-for-20 reverse stock split that occurred on August 26, 2024.
• The original filing on October 21, 2024, reported pre-split share amounts, which this amendment rectifies.
• The corrected filing shows that the director beneficially owns 27,675 shares of common stock.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating no significant positive or negative sentiment. It is a necessary administrative action following a corporate event.

Industry Context

This type of filing is standard practice when a company undergoes a reverse stock split, ensuring transparency in insider ownership.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for company insiders in the US, as mandated by the SEC.
• The amendment process is also standard when errors or changes occur, such as in this case with the reverse stock split.
• Other companies undergoing similar stock splits would also be expected to file amended ownership reports.

Stakeholder Impact

• This filing ensures that shareholders have accurate information about insider ownership.
• The correction of the share count provides transparency and avoids confusion.

Key Dates

Keywords

Quantum Corp, Form 4, Beneficial Ownership, Reverse Stock Split, Director, Share Ownership, Amendment