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Insider Filing: George W. Whitney Reports Multiple FUND Purchases and One Sale

Filing Impact
(Very High)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

George W. Whitney, a director and 10% owner of Sprott Focus Trust Inc. (FUND), reported multiple transactions in the issuer's common stock. He sold 29,800 shares at $8.18 on 08/28/2025, after which 312,583 shares were reported as indirectly held by a trust. On 09/29/2025 Mr. Whitney reports a series of purchases at $8.18 per share across direct and indirect accounts totaling 179,607 shares (individual line items shown in the filing). Post-transaction beneficial ownership figures are reported for each line, including a direct holding listed as 7,990,791 shares and various indirect holdings held by trusts, spouse, and a foundation. The filing states these purchases were made under a dividend reinvestment plan that qualifies for Rule 16a-11 exemption. The report includes standard disclaimers about pecuniary interest and trustee roles without additional commentary.

Positive

  • Insider purchases totaling 179,607 shares at $8.18 on 09/29/2025 indicating additional acquisitions by the reporting person
  • Use of a dividend reinvestment plan that the filing states complies with Rule 16a-11 (exempting these transactions from Section 16 timing rules)
  • Clear disclosure of indirect holdings via multiple trusts and a foundation, including trustee/chairman roles that explain voting and investment discretion

Negative

  • Sale of 29,800 shares on 08/28/2025 at $8.18 (reducing one indirect holding to 312,583 shares)
  • No explanation provided in the filing for the reasons behind the sale and subsequent purchases (filing contains only transactional facts)

Insights

TL;DR: Significant insider purchases after a small sale; reporting shows large aggregate holdings and use of a dividend reinvestment plan.

The Form 4 discloses a modest sale of 29,800 shares followed by aggregated purchases totaling 179,607 shares at $8.18 on 09/29/2025. The filing also lists large post-transaction beneficial ownership figures, including a direct holding reported as 7,990,791 shares and multiple indirect holdings via trusts and a foundation. Transactions were processed under a dividend reinvestment plan that the filer says meets Rule 16a-11, which is relevant because it exempts certain small automated purchases from Section 16 timing rules. The filing is factual and procedural; it provides no commentary on intent or strategy.

TL;DR: The report reflects trustee and fiduciary relationships with multiple trust holdings and a foundation, clarifying indirect ownership lines.

The disclosures carefully identify indirect ownership through several trusts and a foundation and note Mr. Whitney's roles (trustee or chairman) that give him investment and voting discretion. These identifications are important for governance transparency because they clarify where voting discretion resides and why certain holdings are reported as indirect. The narrative includes a standard disclaimer limiting any broader admission of beneficial ownership. No governance breaches or new officer changes are reported.

Insider GEORGE W WHITNEY
Role Director, 10% Owner
Bought 179,607 shs ($1.47M)
Sold 29,800 shs ($244K)
Type Security Shares Price Value
Purchase Common Stock 59,537 $8.18 $487K
Purchase Common Stock 49,318 $8.18 $403K
Purchase Common Stock 21,373 $8.18 $175K
Purchase Common Stock 4,868 $8.18 $40K
Purchase Common Stock 3,970 $8.18 $32K
Purchase Common Stock 1,714 $8.18 $14K
Purchase Common Stock 38,827 $8.18 $318K
Sale Common Stock 29,800 $8.18 $244K
Holdings After Transaction: Common Stock — 7,990,791 shares (Direct); Common Stock — 3,215,943 shares (Indirect, Held by Spouse)
Footnotes (1)
  1. Shares held by a trust established for the benefit of Mr. George's immediate family member (the "BM Trust"). Mr. George serves as trustee of the BM Trust and, in such capacity, has investment and voting discretion over shares held by the BM Trust. Mr. George may be deemed to beneficially own the shares held by the BM Trust. Shares held by The Meredith and Whitney George Foundation (the "Foundation"). Mr. George serves as the Chairman of the Foundation and, in such capacity, has investment and voting discretion over shares held by the Foundation. Shares held by a trust established for the benefit of Mr. George's children. As beneficiaries of the trust, Mr. George's children have a pecuniary interest in the trust. Mr. George may be deemed to beneficially own the shares held by the trust. Shares held by a trust established for the benefit of Mr. George's spouse. Mr. George serves as trustee of the trust and, in such capacity, has investment and voting discretion over shares held by the trust. As beneficiary of the trust, Mr. George's spouse has a pecuniary interest in the trust. Mr. George may be deemed to beneficially own the shares held by the trust. Shares held by a trust established for the benefit of Mr. George's immediate family member (the "TM Trust"). Mr. George serves as trustee of the TM Trust and, in such capacity, has investment and voting discretion over shares held by the TM Trust. Mr. George may be deemed to beneficially own the shares held by the TM Trust.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
GEORGE W WHITNEY
(Last) (First) (Middle)
C/O SPROTT ASSET MANAGEMENT USA INC.
320 POST ROAD, SUITE 230
(Street)
DARIEN CT 06820
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SPROTT FOCUS TRUST INC. [ FUND ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
Officer (give title below) X Other (specify below)
Senior Portfolio Manager
3. Date of Earliest Transaction (Month/Day/Year)
08/28/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 08/28/2025 S 29,800 D $8.18 312,583 I Held by Trust(5)
Common Stock 09/29/2025 P 59,537 A $8.18 7,990,791 D
Common Stock 09/29/2025 P 49,318 A $8.18 3,215,943 I Held by Spouse
Common Stock 09/29/2025 P 21,373 A $8.18 1,393,736 I Held by Trust(3)
Common Stock 09/29/2025 P 4,868 A $8.18 317,451 I Held by Trust(5)
Common Stock 09/29/2025 P 3,970 A $8.18 258,898 I Held by Trust(1)
Common Stock 09/29/2025 P 1,714 A $8.18 111,808 I Held by Trust(4)
Common Stock 09/29/2025 P 38,827 A $8.18 2,531,852 I Held by Foundation(2)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Shares held by a trust established for the benefit of Mr. George's immediate family member (the "BM Trust"). Mr. George serves as trustee of the BM Trust and, in such capacity, has investment and voting discretion over shares held by the BM Trust. Mr. George may be deemed to beneficially own the shares held by the BM Trust.
2. Shares held by The Meredith and Whitney George Foundation (the "Foundation"). Mr. George serves as the Chairman of the Foundation and, in such capacity, has investment and voting discretion over shares held by the Foundation.
3. Shares held by a trust established for the benefit of Mr. George's children. As beneficiaries of the trust, Mr. George's children have a pecuniary interest in the trust. Mr. George may be deemed to beneficially own the shares held by the trust.
4. Shares held by a trust established for the benefit of Mr. George's spouse. Mr. George serves as trustee of the trust and, in such capacity, has investment and voting discretion over shares held by the trust. As beneficiary of the trust, Mr. George's spouse has a pecuniary interest in the trust. Mr. George may be deemed to beneficially own the shares held by the trust.
5. Shares held by a trust established for the benefit of Mr. George's immediate family member (the "TM Trust"). Mr. George serves as trustee of the TM Trust and, in such capacity, has investment and voting discretion over shares held by the TM Trust. Mr. George may be deemed to beneficially own the shares held by the TM Trust.
Remarks:
Mr. George disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. George is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended ("1934 Act"), or for any other purpose. The purchases of shares of Sprott Focus Trust, Inc. were made pursuant to a dividend reinvestment plan that satisfies requirements of Rule 16a-11 under the 1934 Act. Rule 16a-11 exempts such transactions from Section 16 of the 1934 Act.
/s/ W. Whitney George 10/01/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What transactions did George W. Whitney report for FUND on Form 4?

The filing reports a sale of 29,800 shares at $8.18 on 08/28/2025 and multiple purchases on 09/29/2025 totaling 179,607 shares at $8.18 distributed across direct and indirect accounts.

How were the September 29, 2025 purchases executed according to the filing?

The purchases were made pursuant to a dividend reinvestment plan that the report states satisfies the requirements of Rule 16a-11.

Does George W. Whitney have indirect holdings in FUND?

Yes. The filing lists multiple indirect holdings held by trusts and a foundation and notes Mr. Whitney serves as trustee or chairman with investment and voting discretion over those holdings.

What is the reported beneficial ownership after the transactions?

The form lists several post-transaction holdings by line; examples include an indirect holding of 312,583 shares after the August sale and a reported direct holding of 7,990,791 shares in the September entries.

Does the filing assert Mr. Whitney is the beneficial owner of all reported shares?

No. The filing includes a disclaimer: Mr. Whitney disclaims beneficial ownership except to the extent of his pecuniary interest and states the report is not an admission of beneficial ownership under Section 16.

What roles does Mr. Whitney have that affect disclosed ownership?

The filing identifies him as a director, 10% owner, and Senior Portfolio Manager, and notes trustee or chairman roles over entities holding shares.