Heritage Group gifts 540,000 Calumet shares
Heritage Group, a 10% owner of Calumet, Inc., reported a charitable gift of 540,000 shares of Common Stock.
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Form Type
4
Rhea-AI Filing Summary
Heritage Group, a 10% owner of Calumet, Inc., reported a charitable gift of 540,000 shares of Common Stock. The shares were transferred as a bona fide gift at a reported price of $0.00 per share to The J.E. Fehsenfeld Family Foundation, Inc., a tax-qualified private foundation.
Following the gift, Heritage Group reports direct ownership of 12,440,211 Calumet shares. It also reports indirect beneficial ownership of 1,200,000 shares held by The Heritage Group Investment Company, LLC and 882,974 shares held by Lumet Investments, Inc., while disclaiming beneficial ownership of those indirect holdings except to the extent of any pecuniary interest.
Insider Trade Summary
540,000 shares gifted
Gift
3 txns
Insider
Heritage Group
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 540,000 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 12,440,211 shares (Direct);
Common Stock — 2,082,974 shares (Indirect, See Footnote)
Footnotes (3)
- F1. The reported transaction represents a charitable donation of shares of Common Stock by the Reporting Person to The J.E. Fehsenfeld Family Foundation, Inc., a tax-qualified private foundation.
- F2. The Reporting Person beneficially owns 1,200,000 shares of Common Stock that are owned directly by The Heritage Group Investment Company, LLC, an Indiana manager-managed limited liability company ("Investment LLC"), for which the Reporting Person serves as the Manager. The Reporting Person disclaims beneficial ownership of the Common Stock directly held by Investment LLC, except to the extent of any pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or for any other purpose.
- F3. The reported securities are directly held by Lumet Investments, Inc. (f/k/a Calumet, Incorporated), an Indiana corporation ("Lumet Investments"). The Reporting Person is an indirect shareholder of Lumet Investments through Asphalt Materials, Inc. ("AMI"). The Reporting Person does not control AMI and therefore disclaims beneficial ownership of the Common Stock directly held by Lumet Investments, except to the extent of any pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or for any other purpose.
Key Figures
Shares gifted: 540,000 shares
Gift price per share: $0.00 per share
Direct holdings after transaction: 12,440,211 shares
+3 more
6 metrics
Shares gifted
540,000 shares
Bona fide gift of Common Stock
Gift price per share
$0.00 per share
Reported value for charitable donation
Direct holdings after transaction
12,440,211 shares
Common Stock held directly after gift
Indirect holdings via Investment LLC
1,200,000 shares
Held by The Heritage Group Investment Company, LLC
Indirect holdings via Lumet Investments
882,974 shares
Common Stock held by Lumet Investments, Inc.
Gifted shares count
540,000 shares
Reported in transaction summary as giftShares
Key Terms
bona fide gift, charitable donation, beneficially owns, disclaims beneficial ownership, +2 more
6 terms
bona fide gift financial
"The transaction code description identifies the transfer as a bona fide gift."
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
charitable donation financial
"The reported transaction represents a charitable donation of shares of Common Stock."
beneficially owns financial
"The Reporting Person beneficially owns 1,200,000 shares of Common Stock that are owned directly by The Heritage Group Investment Company, LLC."
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.
disclaims beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of the Common Stock directly held by Investment LLC, except to the extent of any pecuniary interest therein."
private foundation financial
"The J.E. Fehsenfeld Family Foundation, Inc., a tax-qualified private foundation."
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Heritage Group report for Calumet, Inc. (CLMT)?
Heritage Group reported a bona fide gift of 540,000 shares of Calumet Common Stock. The shares were donated at a reported price of $0.00 per share to a tax-qualified private foundation, reflecting a charitable transfer rather than a market sale or purchase.
What indirect Calumet (CLMT) holdings are associated with Heritage Group?
Heritage Group reports 1,200,000 Calumet shares held by The Heritage Group Investment Company, LLC and 882,974 shares held by Lumet Investments, Inc. It disclaims beneficial ownership of these indirect holdings, except to the extent of any pecuniary interest it may have in those entities.
Does the reported Calumet (CLMT) gift involve a market sale by Heritage Group?
No, the filing describes the 540,000-share transfer as a bona fide gift at a price of $0.00 per share. The shares were donated to a private foundation, so the transaction does not represent an open-market sale or purchase of Calumet stock by Heritage Group.
What is Heritage Group’s status in relation to Calumet, Inc. (CLMT)?
Heritage Group is identified as a more-than-10% owner and a Section 13(d) group member. The Form 4 shows it reporting both direct and indirect holdings, with explicit disclaimers of beneficial ownership for shares held through certain affiliated entities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
