Marc Elliott (GENC) reports 3.54M-share bona fide gift via family partnership
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
GENCOR INDUSTRIES INC director, President and Chairman Marc G. Elliott reported indirect transfers classified as bona fide gifts of 3,541,305 shares, consisting of 2,022,477 shares of class B stock and 1,518,828 shares of common stock, related to the E.J. Elliott Family Limited Partnership.
Following these entries, he reports 2,022,477 class B shares and 1,518,828 common shares held indirectly through the family limited partnership, and 192,280 class B shares and 269,016 common shares held directly. The filing notes he disclaims beneficial ownership of the partnership-held shares except for his pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
3,541,305 shares gifted
Mixed
4 txns
Insider
ELLIOTT MARC G
Role
President and Chairman
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | common stock | 1,518,828 | $0.00 | -- |
| Gift | class B stock | 2,022,477 | $0.00 | -- |
| holding | common stock | -- | -- | -- |
| holding | class B stock | -- | -- | -- |
Holdings After Transaction:
common stock — 1,518,828 shares (Indirect, FLP);
class B stock — 2,022,477 shares (Indirect, FLP);
common stock — 269,016 shares (Direct, null);
class B stock — 192,280 shares (Direct, null)
Footnotes (1)
- On May 1, 2026, the reporting person was assigned interests in E.J. Elliott, LLC ("LLC") through a bona fide gift, making him the majority member and the manager of LLC, which is the sole general partner of E.J. Elliott Family Limited Partnership ("FLP"). The reporting person disclaims beneficial ownership of these shares held by FLP except to the extent of his pecuniary interest therein. The shares are held by the reporting person.
Key Figures
Gifted shares total: 3,541,305 shares
Gifted class B stock: 2,022,477 shares
Gifted common stock: 1,518,828 shares
+5 more
8 metrics
Gifted shares total
3,541,305 shares
Bona fide gifts of class B and common stock
Gifted class B stock
2,022,477 shares
Indirect, held via E.J. Elliott Family Limited Partnership
Gifted common stock
1,518,828 shares
Indirect, held via E.J. Elliott Family Limited Partnership
Indirect class B holdings after
2,022,477 shares
Reported as held through family limited partnership
Indirect common holdings after
1,518,828 shares
Reported as held through family limited partnership
Direct class B holdings
192,280 shares
Direct ownership entry in Form 4
Direct common holdings
269,016 shares
Direct ownership entry in Form 4
Price per share for gifts
$0.00 per share
Bona fide gift transactions, non-cash
Key Terms
bona fide gift, Family Limited Partnership, pecuniary interest, class B stock, +1 more
5 terms
bona fide gift financial
"transaction_code_description: "Bona fide gift" for these transfers"
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.
Family Limited Partnership financial
"E.J. Elliott Family Limited Partnership ("FLP") holds the reported shares"
pecuniary interest financial
"disclaims beneficial ownership of these shares held by FLP except to the extent of his pecuniary interest"
class B stock financial
"security_title: "class B stock" with 2,022,477 shares reported"
Class B stock is a type of company share that usually carries different voting or economic rights than the more common Class A shares — for example, fewer votes per share or different dividend rules. Investors care because those differences affect control and potential returns: it’s like owning a cheaper seat at an event that gives less say over what happens, so Class B shares can trade at different prices and influence how much sway a shareholder has over company decisions.
indirect ownership financial
"ownership_type: "indirect" and nature_of_ownership: "FLP" for gifted shares"
FAQ
What insider transaction did GENC (GENCOR INDUSTRIES INC) report on this Form 4?
GENCOR’s President and Chairman Marc G. Elliott reported bona fide gifts totaling 3,541,305 shares. These involve class B and common stock connected to a family limited partnership, rather than open-market purchases or sales for cash.
Are Marc G. Elliott’s GENC transactions open-market buys or sells?
No, the filing classifies the transactions with code G, indicating bona fide gifts. The reported price per share is $0.00, so these are non-market transfers, not open-market purchases or sales generating cash proceeds.
What are Marc G. Elliott’s indirect GENC holdings after the reported gifts?
After the reported gifts, he reports indirect holdings of 2,022,477 shares of class B stock and 1,518,828 shares of common stock, held through the E.J. Elliott Family Limited Partnership, where he has a pecuniary interest via a related LLC structure.