Form 4: Turning Point Brands Director John A. Catsimatidis Jr. Reports Stock Transactions

Director John A. Catsimatidis Jr. reports acquisition of restricted stock units and indirect ownership through United Refining, Inc.

Summary

• On May 8, 2024, John A. Catsimatidis Jr., a director of Turning Point Brands, Inc., reported transactions involving the company's stock.
• Catsimatidis acquired 2,415 shares of common stock at a price of $33.13.
• These shares were received as restricted stock units under the company's 2021 Equity Incentive Plan.
• Following the transaction, Catsimatidis directly owns 12,415 shares.
• Catsimatidis also indirectly owns 400,000 shares through United Refining, Inc., a subsidiary of Red Apple Group, Inc., where he serves as President and COO.
• He disclaims beneficial ownership of these shares except to the extent of his pecuniary interest.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing, neither particularly positive nor negative. It simply reports stock transactions by a company insider.

Positives

• The acquisition of restricted stock units aligns the director's interests with the company's performance.

Management Comments

• Mr. Catsimatidis Jr. disclaims beneficial ownership of the securities owned by United Refining, Inc., except to the extent of his pecuniary interest therein.

Industry Context

Form 4 filings are standard practice for reporting insider transactions, providing transparency to investors regarding the buying and selling activities of company insiders.

Stakeholder Impact

• The filing provides transparency to shareholders regarding insider transactions.

Key Dates