LM Asset Management buys 86K Gran Tierra shares
Rhea-AI Filing Summary
Gran Tierra Energy Inc. reported insider buying by entities associated with LM Asset Management Inc. Private investment funds managed by LM Asset Management acquired 35,000 common shares on June 5 at a weighted average price of $7.6173 and 51,000 shares on June 9 at a weighted average price of $7.2203, totaling 86,000 shares in open-market purchases. Following the June 9 transaction, these funds indirectly held 4,313,200 shares. Daniel Lau and Christine Man are control persons of LM Asset Management and related companies and may be deemed to beneficially own these securities to the extent of their pecuniary interests, while also holding additional direct and indirect positions as of June 5.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 86,000 shares
Net Buy
5 txns
Insider
LM Asset Management Inc., Lau Daniel, Man Christine
Role
10% Owner | 10% Owner | 10% Owner
Bought
86,000 shs ($635K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 51,000 | $7.2203 | $368K |
| Purchase | Common Stock | 35,000 | $7.6173 | $267K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 4,520,200 shares (Indirect, See Note);
Common Stock — 305,550 shares (Direct)
Footnotes (6)
- F1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from 7.60 to $7.65, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
- F2. These securities are held by private investment funds managed by LM Asset Management Inc. ("LMAM"). LMAM may be deemed to beneficially own these securities as the investment adviser to those funds. Daniel Lau and Christine Man are control persons of LMAM and may be deemed to beneficially own these securities as control persons of LMAM. Each reporting person disclaims beneficial ownership of such securities except to the extent of their respective pecuniary interests therein.
- F3. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.22 to $7.35, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in this footnote.
- F4. These securities are beneficially owned solely by Daniel Lau.
- F5. These securities are beneficially owned solely by Christine Man.
- F6. These securities are held by companies of which Daniel Lau and Christine Man are directors and controlling shareholders. They may be deemed to beneficially own these shares because they are control persons of those companies. They disclaim beneficial ownership of such securities except to the extent of their respective pecuniary interests therein.
Key Figures
Shares bought June 9: 51,000 shares
Price June 9: $7.2203/share
Shares bought June 5: 35,000 shares
+5 more
8 metrics
Shares bought June 9
51,000 shares
Open-market purchase of common stock at $7.2203 weighted average
Price June 9
$7.2203/share
Weighted average purchase price for common stock
Shares bought June 5
35,000 shares
Open-market purchase of common stock at $7.6173 weighted average
Price June 5
$7.6173/share
Weighted average purchase price for common stock
Indirect shares after June 9
4,313,200 shares
Common stock indirectly held after latest reported purchase
Indirect shares after June 5
4,262,200 shares
Common stock indirectly held after June 5 purchase
Net shares bought
86,000 shares
Total common shares bought across reported open-market purchases
Indirect holding entry
207,000 shares
Common stock indirectly held as of June 5 entry
Key Terms
open-market purchase, weighted average price, beneficially own, pecuniary interests, +1 more
5 terms
open-market purchase financial
"transaction_action: "open-market purchase" for common stock transactions"
An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficially own financial
"LMAM may be deemed to beneficially own these securities as the investment adviser"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
pecuniary interests financial
"disclaims beneficial ownership of such securities except to the extent of their respective pecuniary interests therein"
control persons financial
"Daniel Lau and Christine Man are control persons of LMAM"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider buying did LM Asset Management report for GRAN TIERRA ENERGY INC. (GTE)?
LM Asset Management-linked funds reported buying a total of 86,000 Gran Tierra Energy common shares in open-market transactions. Purchases occurred on June 5 and June 9 at weighted average prices of $7.6173 and $7.2203, respectively, increasing their indirect ownership stake.
What does the Form 4 say about how GTE insider purchase prices were calculated?
The Form 4 states that reported prices are weighted average prices. Shares were bought in multiple transactions within ranges of $7.60–$7.65 and $7.22–$7.35, and detailed per-trade pricing is available to the issuer, security holders, or the SEC staff upon request.
Does the GTE Form 4 include any direct holdings for the individual reporting persons?
Yes. The filing notes that certain securities are beneficially owned solely by Daniel Lau and others solely by Christine Man, alongside additional shares held through companies they control, separate from the private funds managed by LM Asset Management.
AI-generated analysis. How Rhea-AI works. Not financial advice.
