Hennessy (HNNA) Insider Report: Seavey Reduces Holding to 55,725 Shares
Rhea-AI Filing Summary
Insider sales by Thomas L. Seavey at Hennessy Advisors (HNNA)
The Form 4 shows that Thomas L. Seavey, a director, reported two open-market sales of Hennessy Advisors common stock. On 08/12/2025 he sold 7,000 shares at a weighted-average price of $10.8516, leaving him with 63,429 shares beneficially owned. On 08/13/2025 he sold 7,704 shares at a weighted-average price of $10.7076, leaving him with 55,725 shares beneficially owned. The form was signed by Teresa M. Nilsen as attorney-in-fact on 08/14/2025. The filing includes explanations that the reported prices are weighted averages and gives the actual price ranges for each transaction.
Positive
- None.
Negative
- Insider sold shares: Director Thomas L. Seavey sold a total of 14,704 shares over two days, reducing his beneficial ownership to 55,725 shares.
- Open-market sales only: The filing shows ordinary open-market dispositions with no disclosed Rule 10b5-1 plan or other affirmative defense noted in the Form 4.
Insights
TL;DR Director Thomas Seavey executed two open-market sales totaling 14,704 HNNA shares over two days.
The transactions are routine open-market dispositions reported on a Form 4. The filing discloses exact share counts and weighted-average prices and notes the price ranges for each day. The report shows Seavey retained 55,725 shares after the second sale. There is no information in the Form 4 about the motivation for the sales, any hedging, or any related agreements. For investors, this is a factual disclosure of insider selling activity without additional context on materiality versus total share count or timing rationale.
TL;DR Two reported director sales are disclosed clearly; the filing provides weighted-average pricing and signature by attorney-in-fact.
The Form 4 follows Section 16 reporting requirements and includes explanatory notes about weighted-average pricing and ranges. It identifies the reporting person as a director and shows the remaining beneficial ownership after each sale. The filing does not allege any policy-based plan (e.g., Rule 10b5-1) governing these sales, nor does it present any amendment or additional restrictions. From a governance perspective, the disclosure is complete for the specific transactions reported.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 7,704 | $10.7076 | $82K |
| Sale | Common Stock | 7,000 | $10.8516 | $76K |
Footnotes (1)
- The price in Column 4 is a weighted average price. The prices actually ranged from $10.8500 to $10.9600. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price. The price in Column 4 is a weighted average price. The prices actually ranged from $10.6600 to $10.7700. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.
