4/A: Quantum Corp. Executive Amends Filing to Reflect Reverse Stock Split

A Quantum Corp. executive amended a previous filing to accurately reflect their holdings after a 1-for-20 reverse stock split.

Summary

• This document is an amended SEC Form 4 filing by James J. Lerner, President & CEO of Quantum Corp.
• The amendment corrects a previous filing from October 21, 2024, to accurately reflect the number of shares owned after a 1-for-20 reverse stock split.
• The reverse stock split was effective as of August 26, 2024.
• The original filing reported share amounts on a pre-split basis, which has now been corrected.
• The corrected filing shows that Mr. Lerner directly owns 113,996 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 action to ensure accurate reporting.

Industry Context

This filing is a routine disclosure related to changes in beneficial ownership by company executives, which is a common practice in publicly traded companies. The reverse stock split is a corporate action that affects all shareholders, and this filing ensures transparency regarding executive holdings post-split.

Comparison to Industry Standards

• SEC Form 4 filings are standard practice for publicly traded companies in the United States.
• The reporting of changes in beneficial ownership is a common requirement for executives and directors.
• Reverse stock splits are a relatively common corporate action, and the subsequent reporting of adjusted shareholdings is expected.

Stakeholder Impact

• This filing ensures transparency for shareholders regarding executive ownership after the reverse stock split.
• The correction of the filing ensures accurate information is available to the public.

Key Dates

Keywords

SEC Form 4, Quantum Corp, reverse stock split, beneficial ownership, James J. Lerner, amendment, QMCO