Form 4: Pilgrim Global ICAV Adjusts Stake in Sable Offshore Corp.

Pilgrim Global ICAV reports purchasing 750,000 shares and disposing of 8,791,001 shares of Sable Offshore Corp. common stock on September 19, 2024.

Summary

• Pilgrim Global ICAV, along with Pilgrim Global Advisors LLC, filed a Form 4 detailing changes in their beneficial ownership of Sable Offshore Corp. (SOC) stock.
• On September 19, 2024, Pilgrim Global ICAV purchased 750,000 shares of common stock at $20 per share.
• On the same day, Pilgrim Global ICAV disposed of 8,791,001 shares of common stock.
• Pilgrim Global ICAV is a 10% owner and Pilgrim Global Advisors LLC is the investment manager.
• Both entities disclaim beneficial ownership except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a change in ownership. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.

Management Comments

• Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders and large shareholders, providing transparency to the market.

Stakeholder Impact

• The change in ownership may influence investor perception of Sable Offshore Corp.

Key Dates