[144] Hennessy Advisors, Inc. SEC Filing

Rhea-AI Filing Summary

The filing notifies a proposed sale of 7,000 common shares of Hennessy Advisors (HNNA) through Wells Fargo Clearing Services, with an aggregate market value of $75,928.26. The sale is scheduled approximately on 08/12/2025 and the securities are listed on Nasdaq. The form reports 7,787,560 shares outstanding for the issuer.

The shares were acquired on 08/06/2003 as restricted stock units and stock options from the issuer and payment was in cash. The filer indicates no securities sold in the past three months. Several filer identification and contact fields in the provided form appear blank or omitted, and the form includes the standard representation that the seller does not possess undisclosed material adverse information.

Positive

• 7,000 shares and aggregate market value of $75,928.26 are explicitly disclosed
• Acquisition details provided: shares acquired on 08/06/2003 as RSUs and stock options and paid in cash
• Broker and market are identified: Wells Fargo Clearing Services and Nasdaq
• Filer reports no securities sold in the past three months

Negative

• Key filer identification fields (CIK/CCC and submission contact details) appear blank or are not included in the provided content
• The name of the person for whose account the securities are to be sold is not shown in the provided text
• Limited ability to verify the seller due to omitted contact and filer-identifying information

Insights

Securities Analyst

TL;DR: Routine insider sale notice; 7,000 shares ($75,928.26) disclosed, with no recent sales reported.

The Form 144 provides the required notice of a proposed sale by an insider or related person. It lists the broker (Wells Fargo Clearing Services), the approximate sale date (08/12/2025), the aggregate market value ($75,928.26), and the number of shares outstanding (7,787,560). The filing also documents the acquisition date and nature (08/06/2003, RSUs and stock options) and states there were no sales in the prior three months. As presented, the form is informational and routine; missing filer identifiers in the provided content limit confirmation of the seller's identity.

Corporate Governance Expert

TL;DR: Disclosure shows shares originate from RSUs/options and includes broker and exchange details; some filer identification fields are blank.

The filing meets basic disclosure elements by showing the source of the shares (RSUs and stock options), payment method (cash), and broker/exchange information. It includes the seller's representation about lack of undisclosed material adverse information. However, the absence of explicit filer contact identifiers and the named account holder in the provided content reduces transparency for stakeholders seeking to confirm the filer or assess potential governance implications.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
common	Wells Fargo Clearing Services 1 North Jefferson Avenue St. Louis MO 63103	7000	75928.26	7787560	08/12/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
common	08/06/2003	RSU and stock options	Issuer			7000	08/06/2003	cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Nothing to Report

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many HNNA shares are being reported for sale in this Form 144?

The filing reports 7,000 common shares to be sold.

What is the aggregate market value of the HNNA shares in the filing?

The aggregate market value is reported as $75,928.26.

When is the approximate sale date listed for the HNNA shares?

The approximate date of sale is listed as 08/12/2025.

Through which broker and on which exchange will the HNNA shares be sold?

The broker is Wells Fargo Clearing Services and the securities are listed on Nasdaq.

When and how were the reported HNNA shares originally acquired?

The shares were acquired on 08/06/2003 as RSUs and stock options from the issuer, with payment in cash.

Does the filing report any securities sold in the past three months for the same account?

The filing states: Nothing to Report for securities sold during the past three months.