Form 4: Rafael Holdings Executive Chairman Transfers Shares to Dynasty Trust
SEC Form 4 Filing
Howard S. Jonas, Executive Chairman of Rafael Holdings, reports the transfer of 563,538 Class B Common Stock shares from a marital trust to a dynasty trust for his children.
Summary
- On July 24, 2024, Howard S. Jonas, the Executive Chairman of Rafael Holdings, Inc., reported a transaction involving Class B Common Stock.
- 563,538 shares were transferred from the Debbie Y. Jonas 2018 Marital Trust to the Debbie Y. Jonas 2018 Dynasty Trust.
- The Dynasty Trust benefits Jonas' children and their heirs, while the Marital Trust benefits Jonas and his wife.
- Jonas also indirectly owns shares through The Jonas Foundation (98,820 shares), I9 Plus, LLC (3,225,806 shares), and Rafael A Partners, L.P. (787,163 shares of Class A Common Stock).
- He directly owns 159,016 unvested restricted shares of Class B Common Stock, vesting in installments until June 13, 2025.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing a transfer of shares. It doesn't inherently convey positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions and doesn't necessarily reflect broader industry trends.
Stakeholder Impact
- The transfer of shares may have a minor impact on shareholders, as it changes the indirect ownership structure.
Key Dates
| Date | Description |
|---|---|
| 07/24/2024 | Date of the stock transfer transaction. |
| 07/26/2024 | Date of the Form 4 filing. |
| September 13, 2024 | Date of first vesting installment of 39,754 shares. |
| December 13, 2024 | Date of second vesting installment of 39,754 shares. |
| March 13, 2025 | Date of third vesting installment of 39,754 shares. |
| June 13, 2025 | Date of final vesting installment of 39,754 shares. |
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