Murray Stahl Amends Form 4/A to Add Horizon Common Inc. as 10% Owner
Rhea-AI Filing Summary
Horizon Kinetics Holding Corp (HKHC) Form 4/A shows insider reporting by Murray Stahl and affiliated entities for transactions dated 08/27/2025. The filing adds Horizon Common Inc. as an additional reporting person and 10% owner. The report lists multiple common stock transactions at a price of $38 per share on 08/27/2025 with amounts shown of 248,945, 8,216,597, 823,883, 7, 5, 6,900, 5,810 and 952 shares. Explanations state Mr. Stahl exercises discretion over shares held by Horizon Common Inc. and FRMO Corp., disclaims beneficial ownership of remaining shares except for his pecuniary interest, and that Fromex Equity Corp. shares are included. The amendment was executed to correct/add the additional reporting person and ownership disclosure.
Positive
- Amendment adds Horizon Common Inc. as a reported 10% owner, improving disclosure
- Multiple transactions disclosed at a fixed price of $38 per share, providing clear price transparency
- Explanations disclose discretion and approximate ownership percentages (21% of Horizon Common Inc. shares; 16% of FRMO Corp. shares)
- Inclusion of Fromex Equity Corp. holdings clarifies related-party share inclusion
Negative
- None.
Insights
TL;DR: Insider reported large share transactions and added an affiliated 10% owner; disclosure clarifies voting/pecuniary interests.
The Form 4/A documents multiple common stock transactions on 08/27/2025 executed at $38 per share and adds Horizon Common Inc. as an additional reporting person and 10% owner. The filing quantifies share amounts across direct and indirect holdings and clarifies Mr. Stahl's discretionary control over shares held by Horizon Common Inc. and FRMO Corp., including a stated ~21% and ~16 interest in those entities respectively. This improves the transparency of insider ownership and the chain of beneficial ownership.
TL;DR: Amendment increases transparency about insider control and affiliated ownership structure.
The amended filing adds an affiliated entity as a 10% owner and explains the reporter's discretionary authority and disclaimer of beneficial ownership for certain holdings. It also notes inclusion of shares owned by Fromex Equity Corp., a subsidiary of FRMO Corp. Such clarifications are material to understanding voting power and potential conflicts, and they align the disclosure with Section 16 reporting requirements.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Purchase | Common Stock | 8 | $38.00 | $304.00 |
| Purchase | Common Stock | 6 | $38.00 | $228.00 |
| Purchase | Common Stock | 5 | $38.00 | $190.00 |
| Purchase | Common Stock | 2 | $38.00 | $76.00 |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Mr. Stahl exercises discretion over the shares of the Issuer and owns approximately 21% of those held by Horizon Common Inc. He disclaims beneficial ownership over the remaining shares. Mr. Stahl exercises discretion over the shares of the Issuer and owns approximately 16% of those held by FRMO Corp. He disclaims beneficial ownership over the remaining shares. This purchase includes shares owned by Fromex Equity Corp, which is a wholly owned subsidiary of FRMO Corp. Mr. Stahl exercises discretion over shares of the Issuer and disclaims beneficial ownership except to the extent of his pecuniary interest. This Form 4/A amends the Form 4 filed on August 28, 2025, to add Horizon Common Inc as an additional reporting person and 10% owner as reflected in the table below and in previous filings.
FAQ
What insider activity did HKHC (Horizon Kinetics Holding Corp) report on 08/27/2025?
Who filed the amended Form 4/A for HKHC and what was amended?
When was the Form 4/A signed and who signed it?
