Michael Weinstein Increases ARKR Holdings to 944,461 Shares After Purchase
Rhea-AI Filing Summary
Michael Lawrence Weinstein, Chairman & CEO of Ark Restaurants Corp (ARKR), reported an open-market purchase of 3,000 shares on 08/18/2025 at $7.50 per share. After the purchase the report shows beneficial ownership of 944,461 shares, including 392,538 shares directly owned, 35,000 in an IRA, 1,650 held by The Weinstein Foundation, and 400,000 indirectly held through a family LLC (the Reporting Person has a 10% interest and sole voting power in that LLC; a 50% interest equals 115,273 shares of that LLC position). The filing notes 6,250 shares issuable under currently exercisable options.
Positive
- Insider purchase of 3,000 shares at $7.50 shows direct acquisition by the Chairman & CEO
- Comprehensive ownership breakdown clarifies direct, IRA, foundation, and indirect LLC holdings totaling 944,461 shares
Negative
- None.
Insights
TL;DR: Insider purchased 3,000 shares at $7.50, increasing reported beneficial holdings to 944,461 shares.
The Form 4 documents a small open-market acquisition by the company's Chairman & CEO, showing both direct and significant indirect holdings through family and foundation vehicles. The disclosure provides a clear breakdown of ownership components and notes exercisable options. This is a routine Section 16 disclosure of an insider purchase and clarifies voting/ownership arrangements.
TL;DR: Filing clarifies concentration and control: direct, IRA, foundation, and LLC holdings form the reporting person's position.
The explanatory footnotes enumerate ownership types and voting arrangements, including sole voting power over an LLC in which the reporting person holds a 10% economic interest and a 50% attributable interest for certain securities. The document complies with disclosure norms and provides useful detail for shareholders tracking insider holdings and potential voting influence.