Form 4: J Turbines Sells 1,850,000 Shares of Solaris Energy Infrastructure, Inc. (SEI) at $20.60 per Share
SEC Form 4
J Turbines, a major shareholder in Solaris Energy Infrastructure, Inc. (SEI), executed a sale of 1,850,000 Class A common shares at $20.60 per share, following a conversion from Class B common stock and Solaris LLC Units.
Summary
- On May 5, 2025, J Turbines, Inc. converted 1,850,000 shares of Solaris Energy Infrastructure, Inc.'s Class B common stock and an equal number of Solaris LLC Units into 1,850,000 shares of Class A common stock.
- Subsequently, J Turbines sold these 1,850,000 shares of Class A common stock at a price of $20.60 per share.
- The transaction resulted in J Turbines holding 0 shares of Class A common stock after the sale.
- J Turbines continues to hold 6,264,783 shares of Class B common stock.
- John A. Johnson, who owns all equity interests in J Turbines, is deemed to beneficially own the securities held by J Turbines and has sole voting and disposal authority.
- The Class B common stock has no economic rights but entitles the holder to one vote on all matters voted on by stockholders.
- Solaris LLC Units, along with a corresponding number of Class B common stock, are exchangeable for Class A common stock.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports a transaction without expressing any positive or negative outlook. It's a factual report of share sales.
Industry Context
This transaction reflects activity by a major shareholder, J Turbines, potentially indicating their view on the company's valuation and future prospects. Monitoring similar transactions by insiders and major shareholders is crucial for assessing market sentiment and potential future stock performance.
Stakeholder Impact
- The sale of a significant number of shares by a major shareholder like J Turbines could potentially influence investor confidence and the stock price of Solaris Energy Infrastructure, Inc.
- The transaction may also impact the liquidity of the stock in the short term.
Key Dates
| Date | Description |
|---|---|
| May 11, 2017 | Date of the Second Amended and Restated Limited Liability Company Agreement of Solaris Energy Infrastructure, LLC. |
| May 17, 2017 | Date the Issuer's Current Report on Form 8-K was filed with the SEC. |
| July 9, 2024 | Date of the Contribution Agreement by and among the Issuer, Solaris LLC, John A. Johnson, John Tuma, J Turbines and KTR Management Company, LLC. |
| September 11, 2024 | Date J Turbines and KTR each received 8,114,783 shares of the Issuer's Class B common stock, together with a corresponding number of Solaris LLC Units. |
| September 13, 2024 | Date the Schedule 13D was filed by the reporting persons with the SEC. |
| May 5, 2025 | Date of the transaction involving the conversion and sale of shares. |
| May 7, 2025 | Date of signature of the Form 4 filing. |
Keywords
Solaris Energy Infrastructure, SEI, J Turbines, Class A Common Stock, Class B Common Stock, Solaris LLC Units, Sale of Shares, Beneficial Ownership, Form 4, SEC
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