ESI Insider Filing: Martin E. Franklin Disclaims 1,037,000 Shares Held by Foundation
Rhea-AI Filing Summary
Element Solutions Inc. insider filing shows a reclassification of 1,037,000 shares previously reported for Martin E. Franklin to a charitable foundation, with the reporting person disclaiming beneficial ownership. The Form 4 records a transaction date of 08/13/2025 with code J and reports 1,037,000 shares as disposed, leaving 0 shares beneficially owned by the reporting person on this filing. The explanatory note states this filing does not reflect a purchase or sale and that the shares are held by a foundation for which the reporting person disclaims any pecuniary interest. The form is signed by an attorney-in-fact on behalf of the reporting person.
Positive
- Clear disclosure that 1,037,000 shares are held by a charitable foundation and that the reporting person disclaims beneficial ownership
- Form 4 filed to update public records, preserving SEC transparency and compliance
Negative
- None.
Insights
TL;DR: Filing documents a reclassification to a charitable foundation and a formal disclaimer of beneficial ownership.
The Form 4 indicates that 1,037,000 shares associated with the reporting person are held by a charitable foundation and are being removed from the reporting person's beneficial ownership. This is recorded with transaction code "J" and an effective transaction date of 08/13/2025. The explanatory note clarifies there was no purchase or sale; instead, the shares are held by a foundation and the reporting person disclaims pecuniary interest. From a governance standpoint, this maintains regulatory transparency about ownership changes while clarifying that the insider no longer reports those shares as beneficially owned.
TL;DR: Neutral market impact—no change in economic ownership reported; filing is an administrative reclassification to a foundation.
The submission shows a disposition entry of 1,037,000 common shares on 08/13/2025 but explicitly states this is not a market transaction. Because the reporting person disclaims beneficial ownership and reports 0 shares following the filing, there is no disclosed change in the insider's economic exposure that would directly affect supply-demand of the stock. The filing serves to update public records on who holds these shares for disclosure purposes.