Trust gift and amended holdings disclosed at FRP Holdings (NASDAQ: FRPH)
Filing Impact
Filing Sentiment
Form Type
4/A
Rhea-AI Filing Summary
FRP Holdings director John D. Baker II reported trust-related share transfers in FRP Holdings, Inc. common stock. A grantor retained annuity trust distributed 97,442 shares as a bona fide gift to irrevocable trusts for his children in connection with the trust’s termination.
The amended filing also updates his indirect beneficial ownership to 123,534 shares held in a grantor retained annuity trust and 154,117 shares held in a revocable living trust, reflecting corrected post-distribution amounts.
Positive
- None.
Negative
- None.
Insider Trade Summary
97,442 shares gifted
Mixed
2 txns
Insider
BAKER JOHN D II
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 97,442 | $0.00 | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 123,534 shares (Indirect, Held in GRAT)
Footnotes (1)
- The reported disposition reflects a distribution of shares in connection with the termination of the Reporting Person's grantor retained annuity trust. The shares were distributed to irrevocable trusts for the benefit of the Reporting Person's children. This item was amended to reflect the correct amount of securities beneficially owned following the reported disposition. This item was amended to reflect that 118,710 shares were distributed to the Reporting Person's Revocable Living Trust in connection with the termination of the Reporting Person's grantor retained annuity trust
FAQ
What insider activity did FRP Holdings (FRPH) report in this Form 4/A?
The Form 4/A reports trust-related transfers of FRP Holdings common stock by director John D. Baker II. A grantor retained annuity trust distributed 97,442 shares as a bona fide gift and the filing corrects the resulting indirect beneficial ownership balances in related trusts.
What do the footnotes in the FRP Holdings (FRPH) Form 4/A explain?
The footnotes explain that the disposition reflects a distribution upon termination of a grantor retained annuity trust, with shares going to irrevocable trusts for his children. They also clarify that the items were amended to correct beneficial ownership amounts after these distributions, including transfers to a revocable living trust.
Was the FRP Holdings (FRPH) transaction a sale or a gift?
The transaction was reported as a bona fide gift, not a sale, under code G. Shares were distributed from a grantor retained annuity trust to irrevocable trusts for the reporting person’s children as part of the trust’s termination, with no purchase or sale price disclosed.
Why was this FRP Holdings (FRPH) insider filing amended (Form 4/A)?
The amendment corrects the reported number of securities beneficially owned after the disposition. It notes that 118,710 shares were distributed to a revocable living trust when the grantor retained annuity trust terminated, and updates the indirect ownership figures to reflect these transfers accurately.