Form 4: Trio Petroleum Corp. Director Thomas J. Pernice Sells 10,000 Shares

Director Thomas J. Pernice sold 10,000 shares of Trio Petroleum Corp. common stock on May 1, 2024, at a weighted average price of $0.3302 per share.

Summary

• On May 1, 2024, Thomas J. Pernice, a director of Trio Petroleum Corp., sold 10,000 shares of common stock.
• The sale was executed at a weighted average price of $0.3302 per share, with individual transactions ranging from $0.3301 to $0.3302.
• The transaction was conducted under a Rule 10b5-1 trading plan adopted on January 30, 2024.
• Following the transaction, Pernice directly owns 230,000 shares of Trio Petroleum Corp.
• The reporting person has undertaken to provide full information regarding the number of shares purchased at each separate price within the range upon request.

Sentiment

Score: 5

Explanation: The sentiment is neutral as it simply reports a transaction. It's a routine filing and doesn't inherently indicate positive or negative sentiment.

Industry Context

This filing is a routine disclosure of insider trading activity. It provides transparency to the market regarding the transactions of company insiders.

Stakeholder Impact

• The sale of shares by a director could potentially create uncertainty among shareholders, although the impact is likely minimal given the relatively small number of shares sold and the existence of a pre-arranged trading plan.

Key Dates

Keywords

Form 4, Trio Petroleum Corp, TPET, insider trading, Thomas J. Pernice, stock sale, Rule 10b5-1