Hennessy Advisors grants director 5,600 shares

HNNA director Kiera Newton was granted 5,600 stock units that vest over four years, bringing direct holdings to 21,102 shares.

Available on EDGAR 09/22/2026 - 05:10 PM EDT Accepted by SEC EDGAR 09/22/2026 - 05:09 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

HENNESSY ADVISORS INC (symbol: HNNA) is the issuer of record for a Form 4 filing submitted to the SEC. Newton Kiera reported acquisition or exercise transactions in this Form 4 filing.

HENNESSY ADVISORS INC (HNNA) director Kiera Newton received a grant of 5,600 shares of common stock on September 18, 2026 as a stock unit award with no cash price per share. After this award, Newton directly holds 21,102 shares, including these underlying stock units, which will vest 25% per year beginning on September 18, 2027.

Insider Trade Summary

Grant/Award: 5,600 shares

Grant/Award 1 txn

Insider Newton Kiera

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock F1	5,600	$0.00	$0.00

Holdings After Transaction: Common Stock — 21,102 shares (Direct)

Footnotes (1)

1. F1. Includes 5,600 shares of underlying stock units that will vest 25% per year beginning on September 18, 2027.

Key Figures

Shares granted: 5,600 shares Price per share: $0.00 per share Shares held after transaction: 21,102 shares +2 more

5 metrics

Shares granted 5,600 shares Stock unit award on September 18, 2026

Price per share $0.00 per share Grant of 5,600 common shares to director as an award

Shares held after transaction 21,102 shares Direct holdings by Kiera Newton after the award

Vesting rate 25% per year Stock units vest annually starting September 18, 2027

Vesting commencement date September 18, 2027 First vesting date for the 5,600 stock units

Key Terms

stock units, vest, underlying stock units, grant, award, or other acquisition

4 terms

stock units financial

"Includes 5,600 shares of underlying stock units that will vest 25% per year"

Stock units are individual pieces of ownership in a company, like slices of a pie that together make up the whole business. They matter to investors because each unit represents a claim on the company’s assets, profits and sometimes voting power, and changes in the number or value of these units affect ownership percentages, potential dividends and share dilution — all of which influence an investment’s worth.

vest financial

"stock units that will vest 25% per year beginning on September 18, 2027"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

underlying stock units financial

"Includes 5,600 shares of underlying stock units that will vest 25% per year"

grant, award, or other acquisition financial

"transaction code reflects a Grant, award, or other acquisition of common stock"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did HNNA director Kiera Newton report on this Form 4?

Newton reported a grant of 5,600 shares of HNNA common stock on September 18, 2026 as a stock unit award, with no cash price per share, increasing direct holdings to 21,102 shares including these units.

How many HENNESSY ADVISORS (HNNA) shares does Kiera Newton hold after the award?

After the reported grant, Kiera Newton directly holds 21,102 shares of HENNESSY ADVISORS INC common stock, which includes the 5,600 underlying stock units covered by the award.

What are the vesting terms of Kiera Newton’s 5,600 HNNA stock units?

The 5,600 stock units will vest 25% per year, beginning on September 18, 2027. This implies four equal annual vesting installments, subject to any conditions in the underlying award agreement.

Did Kiera Newton pay a price per share for the 5,600 HNNA shares reported?

No. The Form 4 reports a price per share of $0.00 for the 5,600-share grant, indicating this was a compensation-related stock award rather than a market purchase.

Was Kiera Newton’s HNNA transaction made under a Rule 10b5-1 trading plan?

No. The filing’s Rule 10b5-1 checkbox is not marked, and there is no footnote stating that the award was made pursuant to a Rule 10b5-1 trading plan.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Newton Kiera

(Last) (First) (Middle)

7250 REDWOOD BLVD

SUITE 200

(Street)

NOVATO CALIFORNIA 94945

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
HENNESSY ADVISORS INC [ HNNA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/18/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/18/2026		A(1)		5,600	A	$0	21,102(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Includes 5,600 shares of underlying stock units that will vest 25% per year beginning on September 18, 2027.

	/s/ Teresa M. Nilsen, Attorney-in-Fact for Kiera M. Newton	09/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)