FRP Holdings (FRPH) director moves FRPH shares via GRAT and family trusts
Rhea-AI Filing Summary
FRP Holdings director and 10% owner John D. Baker II reported estate-planning transfers involving his FRP Holdings common stock. In connection with terminating a grantor retained annuity trust, 110,710 shares were distributed to his revocable living trust, and a separate bona fide gift of 97,442 shares moved from the same trust to irrevocable trusts for his children. Following these transactions, he reports indirect holdings including 146,117 shares in a living trust, 131,534 shares in a GRAT, 20,050 shares in an IRA, and 7,578 shares in his wife's living trust, plus 2,571,775 shares in a separate trust where he serves as co‑trustee and sole income beneficiary and disclaims beneficial ownership except for his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Seller: 97,442 shares
Net Sell
6 txns
Insider
BAKER JOHN D II
Role
Director, 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Common Stock | 97,442 | $0.00 | $0.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 131,534 shares (Indirect, Held in GRAT);
Common Stock — 146,117 shares (Indirect, Held in Living Trust);
Common Stock — 20,556 shares (Direct);
Common Stock — 2,571,775 shares (Indirect, See footnote);
Common Stock — 20,050 shares (Indirect, Held in IRA);
Common Stock — 7,578 shares (Indirect, Held in Wife's Living Trust)
Footnotes (3)
- F1. In connection with the termination of the Reporting Person's grantor retained annuity trust, 110,710 shares were distributed to the Reporting Person's Revocable Living Trust.
- F2. 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.
- F3. Shares are held by the Trust FBO John D. Baker II U/A Cynthia L. Baker Trust dated 4/30/1965, for which the Reporting Person serves as co-trustee, and of which the Reporting Person is the sole income beneficiary. The Reporting Person disclaims beneficial ownership of such shares, except to the extent of his pecuniary interest therein.
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FAQ
What insider activity did FRPH Form 4 report for John D. Baker II?
The Form 4 reports trust-related transfers of FRP Holdings common stock by entities associated with John D. Baker II, including a grantor retained annuity trust termination and a bona fide gift to family trusts, reflecting estate-planning moves rather than open-market stock sales.
What happened when John D. Baker II’s grantor retained annuity trust terminated?
When the grantor retained annuity trust terminated, 110,710 FRPH shares were distributed to John D. Baker II’s revocable living trust. Separately, 97,442 shares from the same trust were distributed to irrevocable trusts established for his children, according to the Form 4 footnotes.
What is the large FRPH holding where John D. Baker II disclaims full beneficial ownership?
The Form 4 notes 2,571,775 FRPH shares held by a trust for his benefit where he is co‑trustee and sole income beneficiary. He formally disclaims beneficial ownership of these shares except to the extent of his pecuniary interest in that trust.
Did John D. Baker II sell FRPH stock for cash in this Form 4?
No cash sale is reported. The only coded transaction is a bona fide gift of 97,442 FRPH shares from a grantor retained annuity trust to irrevocable trusts for his children, recorded at a transaction price of $0 per share as a non-cash transfer.
What is John D. Baker II’s relationship to FRP Holdings (FRPH)?
The Form 4 lists John D. Baker II as a director and 10% owner of FRP Holdings, Inc. He reports a mix of direct and indirect holdings through various personal, family, and fiduciary trusts, each described with separate ownership classifications and footnotes.