4/A: Universal Technical Institute Executive Corrects Share Sale Reporting

Sherrell Smith, EVP and Chief Academic Officer of Universal Technical Institute, files an amended Form 4 to correct the number of shares sold on March 17, 2025, and the resulting beneficial ownership.

Summary

• Sherrell Smith, EVP and Chief Academic Officer of Universal Technical Institute Inc. [UTI], filed an amended Form 4 (Form 4/A) with the SEC on April 01, 2025.
• The amendment corrects the number of shares sold on March 17, 2025, under a previously established Rule 10b5-1 trading plan.
• The original filing on March 19, 2025, incorrectly reported the sale of 36,773 shares, leading to a reported beneficial ownership of 227,358 shares.
• The corrected filing shows that 60,000 shares were sold on March 17, 2025, resulting in a corrected beneficial ownership of 204,131 shares.
• Additional sales of 9,500 shares at $26.7107 and 500 shares at $27.268 were reported on March 18, 2025, further adjusting the beneficial ownership to 194,131 shares.
• The sales were executed under a Rule 10b5-1 trading plan adopted on December 16, 2024.

Sentiment

Score: 6

Explanation: The document is a routine correction of a previous filing. It doesn't indicate any fundamental issues with the company, but the initial error could raise minor concerns about internal controls.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. Corrections, while not ideal, are also part of the process and are meant to ensure accuracy in reporting.

Stakeholder Impact

• The correction ensures shareholders have accurate information regarding insider transactions.
• The filing provides transparency to stakeholders regarding executive stock sales.

Key Dates

Keywords

Form 4/A, SEC Filing, Beneficial Ownership, Share Sales, Rule 10b5-1, Universal Technical Institute, UTI, Sherrell Smith, Executive Compensation