4/A: RLI Corp Director Amends Filing to Reflect Gift of Shares

RLI Corp director Michael J. Stone amended a previous filing to correctly report a gift of shares, rather than a sale, and to reflect dividend reinvestment.

Summary

• Michael J. Stone, a director at RLI Corp, filed an amended Form 4 to correct a previous transaction.
• The amendment clarifies that a disposition of 200 shares on December 12, 2024, and 300 shares on December 13, 2024, were gifts, not sales.
• The amended filing also reflects a dividend reinvestment, which increased the number of shares owned.
• Following these transactions, Stone directly owns 214,510.6648 shares of RLI Corp common stock and indirectly owns 135 shares through a spouse.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating no significant positive or negative sentiment. The correction is a normal part of regulatory compliance.

Industry Context

This filing is a routine disclosure of changes in beneficial ownership by a company director, which is a standard practice in the financial industry.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for company insiders, such as directors, to report changes in their beneficial ownership of company securities.
• The amendment of the filing is not unusual and indicates a correction of a previously reported transaction, which is also a common occurrence.
• The level of detail provided in the filing is consistent with SEC requirements for Form 4 filings.

Stakeholder Impact

• The amended filing provides transparency to shareholders regarding the director's ownership of company stock.
• The correction of the transaction ensures accurate reporting of insider activity.

Key Dates

Keywords

RLI Corp, Form 4, Beneficial Ownership, Director, Michael J. Stone, Share Gift, Dividend Reinvestment, SEC Filing