Form 4: SEI Investments Director Corrects Shareholding After Foundation Gift Error

SEI Investments director William Doran corrected a previous filing regarding a gift of shares, adjusting his reported holdings to reflect the correct ownership.

Summary

• William Doran, a director at SEI Investments Co, filed a Form 4 to correct a previous error in his reported shareholdings.
• The error stemmed from a previous filing on December 27, 2023, which incorrectly attributed a gift of 2,475 shares to Mr. Doran, when the gift was actually made by The Doran Family Foundation.
• Shares owned by The Doran Family Foundation are not considered beneficially owned by Mr. Doran for the purposes of Section 16 of the Securities Exchange Act of 1934.
• As a result of the correction, 47,500 shares were removed from a previous filing and 618,536 shares are now reported as beneficially owned by Mr. Doran.
• The transaction was a gift of shares, and the price was recorded as $0.

Sentiment

Score: 7

Explanation: The document is a routine correction of a previous filing, indicating a neutral sentiment. The correction is a positive sign of transparency and compliance.

Industry Context

This is a standard SEC filing related to changes in beneficial ownership by a company director. Such filings are common and provide transparency into the holdings of company insiders.

Comparison to Industry Standards

• Form 4 filings are a standard requirement for company insiders in the US, and this filing is consistent with those requirements.
• The correction of an error in a previous filing is not uncommon and demonstrates a commitment to accurate reporting.

Stakeholder Impact

• The correction ensures accurate information for shareholders regarding the beneficial ownership of company stock.

Key Dates

Keywords

Form 4, Beneficial Ownership, Shareholding, SEI Investments, Director, William Doran, SEC Filing, Correction