Form 4: U-Haul Insider Mark Shoen Reports Stock Transfer

Mark V. Shoen, a 10% owner and Director of U-Haul Holding Co, reported an intra-entity transfer of 229,515 Series N Common Stock shares valued at $11.8 million.

Summary

• Mark V. Shoen, a Director and 10% owner of U-Haul Holding Co /NV/ (UHALB), reported a transaction involving Series N Common Stock.
• The MVS-029 Trust, for which Mark V. Shoen serves as a trustee and beneficiary, disposed of 229,515 shares of Series N Common Stock.
• Blackwater Investments, Inc., a wholly-owned subsidiary of Willow Grove Holdings, LP (an entity related to Mark V. Shoen), acquired these 229,515 shares.
• The transaction was an exchange for all outstanding equity interests in Holdfast Marine, LLC, which were valued at approximately $11.8 million.
• Following the transaction, Mark V. Shoen's indirect beneficial ownership through MVS-029 Trust is 425,196 shares of Series N Common Stock.
• Mark V. Shoen's indirect beneficial ownership through Blackwater Investments, Inc. and Willow Grove Holdings, LP is 8,150,658 shares of Series N Common Stock.
• Mark V. Shoen disclaims beneficial ownership of shares held by various trusts and entities (MVS-029 Trust, EJS-028 Trust, Willow Grove, Blackwater, Clarendon, SAC) except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The filing reports an internal transfer of shares between related entities, which is a neutral event for the company's operational performance or market valuation.

Positives

• The transaction represents a strategic internal asset reallocation within entities associated with the reporting person, rather than a market sale.
• The valuation of Holdfast Marine, LLC equity interests at approximately $11.8 million provides transparency on the asset exchanged.

Future Outlook

No forward-looking statements or guidance are provided in this insider transaction report.

Management Comments

• Mark V. Shoen disclaims beneficial ownership of shares held by the MVS-029 Trust except to the extent of his pecuniary interest therein.
• Mark V. Shoen disclaims beneficial ownership of shares held directly and indirectly by Willow Grove, Clarendon, Blackwater and SAC except to the extent of his pecuniary interest therein.
• Mark V. Shoen disclaims beneficial ownership of shares held by the EJS-028 Trust and the filing of this Form 4 shall not be deemed an admission that he is the beneficial owner of the securities for purposes of Section 16 of the Exchange Act or for any other purpose.

Industry Context

This transaction is an internal transfer of shares between entities associated with a significant insider and does not directly reflect broader industry trends or competitive dynamics. It is primarily a change in the structure of beneficial ownership within the controlling family's holdings.

Related Party Transactions

• A sale of 229,515 shares of Series N Common Stock occurred between MVS-029 Trust and Blackwater Investments, Inc., both entities with indirect beneficial ownership by Mark V. Shoen and related to Willow Grove Holdings, LP.

Stakeholder Impact

• Shareholders: Minimal direct impact on public shareholders as this is an internal transfer of ownership within the controlling family's entities and does not alter the overall control structure or company operations.
• Employees, Customers, Suppliers, Creditors: No discernible direct impact on these stakeholders as the transaction is an ownership restructuring among related parties.

Key Dates

Recommendation

The Form 4 filing details an internal transfer of Series N Common Stock between entities controlled by Mark V. Shoen. This transaction does not reflect a change in the company's operational performance, financial health, or strategic direction, nor does it alter the overall beneficial ownership structure of the controlling family. Therefore, it provides no new fundamental information to warrant a change in investment recommendation.

Keywords

U-Haul, UHALB, Mark V. Shoen, Form 4, insider transaction, beneficial ownership, Series N Common Stock, stock transfer, Holdfast Marine, LLC, Blackwater Investments, Willow Grove Holdings