Form 4: VirnetX CEO Kendall Larsen Reports Stock Purchases
SEC Form 4
VirnetX Holding Corp's CEO, Kendall Larsen, reports purchases of common stock through his spouse and holdings through trusts.
Summary
- Kendall Larsen, the President & CEO of VirnetX Holding Corp, filed a Form 4 detailing changes in beneficial ownership.
- The report indicates that Mr. Larsen's spouse purchased VirnetX common stock on May 21, 2024 (258 shares at $4.65), May 22, 2024 (2 shares at $4.65), and May 23, 2024 (1,875 shares at $4.65).
- Following these transactions, Mr. Larsen indirectly owns 43,649 shares through his spouse.
- Mr. Larsen also directly owns 324,633 shares and indirectly owns 30,676 shares through The Kathleen Sheehan Revocable Trust and 15,000 shares through The K2 Investment Fund LLC.
- The reported share amounts reflect a 1-for-20 reverse stock split that took effect on October 25, 2023.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it's a standard SEC filing reporting stock purchases. It doesn't inherently indicate positive or negative performance.
Industry Context
Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be a signal to investors.
Stakeholder Impact
- The stock purchases by the CEO's spouse could be interpreted positively by shareholders, signaling confidence in the company's future.
Key Dates
| Date | Description |
|---|---|
| 02/05/2009 | Date of The Kathleen Sheehan Revocable Trust dtd 2/5/2009 |
| 10/25/2023 | Effective date of the 1-for-20 reverse stock split |
| 05/21/2024 | Date of first reported stock purchase by spouse (258 shares) |
| 05/22/2024 | Date of second reported stock purchase by spouse (2 shares) |
| 05/23/2024 | Date of third reported stock purchase by spouse (1,875 shares) and filing date of the Form 4 |
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