LM Asset Management adds Gran Tierra (GTE) shares in open-market buys
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
LM Asset Management Inc., on behalf of private investment funds it manages, reported open-market purchases of 75,000 shares of Gran Tierra Energy Inc. common stock. The funds bought 34,000 shares at a weighted average price of $8.4765 on May 22 and 41,000 shares at $8.1833 on May 26, with actual trade prices ranging from $8.41–$8.55 and $8.16–$8.25, respectively.
After these purchases, the LM Asset Management–advised funds indirectly held 4,227,200 Gran Tierra shares. The filing also reports separate positions beneficially owned solely by Daniel Lau (65,550 shares) and Christine Man (240,000 shares), plus 207,000 shares held through companies they control. Lau and Man, as control persons of LM Asset Management and related entities, may be deemed beneficial owners but each disclaims beneficial ownership beyond their pecuniary interests.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 75,000 shares ($623,716)
Net Buy
5 txns
Insider
LM Asset Management Inc., Lau Daniel, Man Christine
Role
null | null | null
Bought
75,000 shs ($624K)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 41,000 | $8.1833 | $336K |
| Purchase | Common Stock | 34,000 | $8.4765 | $288K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Common Stock — 4,227,200 shares (Indirect, See Note);
Common Stock — 240,000 shares (Direct, null)
Footnotes (1)
- The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.41 to $8.55, 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. 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. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $8.16 to $8.25, 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. These securities are beneficially owned solely by Daniel Lau. These securities are beneficially owned solely by Christine Man. 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
Open-market purchase May 22: 34,000 shares at $8.4765
Open-market purchase May 26: 41,000 shares at $8.1833
Price range May 22 trades: $8.41–$8.55 per share
+5 more
8 metrics
Open-market purchase May 22
34,000 shares at $8.4765
Weighted average price for Gran Tierra common stock
Open-market purchase May 26
41,000 shares at $8.1833
Weighted average price for Gran Tierra common stock
Price range May 22 trades
$8.41–$8.55 per share
Gran Tierra trades underlying $8.4765 weighted average
Price range May 26 trades
$8.16–$8.25 per share
Gran Tierra trades underlying $8.1833 weighted average
Indirect fund holdings after May 26
4,227,200 shares
Gran Tierra shares held by LM Asset Management–advised funds
Total net shares bought
75,000 shares
Net open-market purchases of Gran Tierra common stock
Daniel Lau direct holdings
65,550 shares
Gran Tierra common stock beneficially owned solely by Lau
Christine Man direct holdings
240,000 shares
Gran Tierra common stock beneficially owned solely by Man
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""
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
What insider transactions did LM Asset Management report for Gran Tierra Energy (GTE)?
LM Asset Management reported open-market purchases of 75,000 Gran Tierra common shares. The funds bought 34,000 shares at a weighted average $8.4765 and 41,000 shares at $8.1833, increasing their indirect holdings managed for private investment funds.
Were the reported GTE insider purchases made in the open market?
Yes. Both transactions are coded as open-market purchases of Gran Tierra common stock. Footnotes explain that prices are weighted averages, with multiple trades executed within stated price ranges on May 22 and May 26 for the LM Asset Management–advised funds.