Hennessy Advisors director sells 792 shares

A director of HENNESSY ADVISORS INC reported direct open-market or private sales totaling 792 common shares over two days.

Rhea-AI Filing Summary

HENNESSY ADVISORS INC (HNNA) director Kiera Newton reported two open-market or private sales of common stock. On September 16, 2026, she sold 199 shares at $10.35 per share, and on September 14, 2026, she sold 593 shares at $10.335 per share, all held directly. No Rule 10b5-1 trading plan is reported.

Insider Trade Summary

Net Seller: 792 shares

Net Sell 2 txns

Insider Newton Kiera

Role Director

Sold 792 shs ($8K)

Type	Security	Shares	Price	Value
Sale	Common Stock	199	$10.35	$2K
Sale	Common Stock	593	$10.335	$6K

Holdings After Transaction: Common Stock — 15,502 shares (Direct)

Key Figures

Shares sold September 16, 2026: 199 shares Price per share September 16, 2026: $10.35 per share Shares sold September 14, 2026: 593 shares +2 more

5 metrics

Shares sold September 16, 2026 199 shares Common Stock sale reported by director

Price per share September 16, 2026 $10.35 per share Common Stock sale of 199 shares

Shares sold September 14, 2026 593 shares Common Stock sale reported by director

Price per share September 14, 2026 $10.335 per share Common Stock sale of 593 shares

Total shares sold 792 shares Sum of reported sales in this Form 4

Key Terms

Common Stock, non-derivative, Rule 10b5-1, open market or private transaction

4 terms

Common Stock financial

"The transactions involved Common Stock of HENNESSY ADVISORS INC"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

non-derivative financial

"The transactions were reported as non-derivative securities"

Rule 10b5-1 regulatory

"No Rule 10b5-1 trading plan is reported for these transactions"

Rule 10b5-1 is a regulation that allows company insiders to buy or sell their shares at predetermined times, even if they have access to non-public information. It acts like setting a schedule in advance for transactions, helping prevent accusations of unfair trading. This rule provides a way for insiders to plan trades transparently, giving investors confidence that these transactions are not based on hidden information.

open market or private transaction financial

"Each sale is described as an open market or private transaction"

FAQ

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

What insider transactions did HNNA director Kiera Newton report?

She reported two sales of HENNESSY ADVISORS INC common stock: 199 shares on September 16, 2026 at $10.35 per share and 593 shares on September 14, 2026 at $10.335 per share, all from direct holdings.

How many HNNA shares did the director sell in total?

Across the reported transactions, the director sold a total of 792 shares of HENNESSY ADVISORS INC common stock, combining 199 shares on September 16, 2026 and 593 shares on September 14, 2026.

At what prices were the HNNA shares sold by the director?

The reported sales were executed at per-share prices of $10.35 for 199 shares on September 16, 2026 and $10.335 for 593 shares on September 14, 2026.

Were Kiera Newton’s HNNA share sales under a Rule 10b5-1 plan?

No. The filing indicates no Rule 10b5-1 trading plan; the document-level Rule 10b5-1 checkbox is not affirmed for these transactions.

What type of security did the HNNA director sell?

The transactions involved Common Stock of HENNESSY ADVISORS INC, reported as non-derivative securities held directly by the director.

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

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Available on EDGAR 09/16/2026 - 07:08 PM Accepted by SEC EDGAR 09/16/2026 - 07:07 PM Learn about SEC filing dates

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)
09/14/2026

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	09/14/2026		S		593	D	$10.335	15,701	D
Common Stock	09/16/2026		S		199	D	$10.35	15,502	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:

	/s/ Teresa M. Nilsen, Attorney-in-Fact for Kiera M. Newton	09/16/2026
	** 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)