Norris Industries holder updates 72.17% stake
Patrick L. Norris, Chairman and CEO of Norris Industries, filed an amended Schedule 13D showing beneficial ownership of 78,122,675 shares of common stock, or 72.17% of the company’s outstanding common stock.
Rhea-AI Filing Summary
Patrick L. Norris, Chairman and CEO of Norris Industries, filed an amended Schedule 13D showing beneficial ownership of 78,122,675 shares of common stock, or 72.17% of the company’s outstanding common stock.
The amendment removes 1,000,000 preferred shares previously reported, after those preferred shares were contributed to the capital of Norris Industries for no consideration. Norris reports sole voting and dispositive power over his common stock holdings and disclaims beneficial ownership of common shares issued upon conversion of a promissory note to the extent of his pecuniary interest in JBB.
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Key Figures
Beneficial ownership: 78,122,675 shares
Ownership percentage: 72.17%
Sole voting power: 78,122,675 shares
+4 more
7 metrics
Beneficial ownership
78,122,675 shares
Common stock beneficially owned by Patrick L. Norris
Ownership percentage
72.17%
Percent of Norris Industries common stock class represented
Sole voting power
78,122,675 shares
Shares over which Norris has sole voting power
Sole dispositive power
78,122,675 shares
Shares over which Norris has sole dispositive power
Preferred shares removed
1,000,000 shares
Preferred stock contributed to capital for no consideration
Date of event
02/26/2026
Date of event requiring filing of amended statement
Signature date
05/15/2026
Date Patrick L. Norris certified the amended statement
Key Terms
beneficially owns, sole voting power, sole dispositive power, percent of class, +2 more
6 terms
beneficially owns financial
"The Reporting Person beneficially owns an aggregate of 78,122,675 shares of Common Stock"
Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.
sole voting power financial
"Number of Shares Beneficially Owned by Each Reporting Person With: Sole Voting Power 78,122,675.00"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
sole dispositive power financial
"Sole Dispositive Power 78,122,675.00"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
percent of class financial
"Percent of class represented by amount in Row (11) 72.17 %"
Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.
pecuniary interest financial
"disclaims beneficial ownership of the shares of Common Stock issued on conversion of the promissory note to the extent of his pecuniary interest in JBB"
Schedule 13D regulatory
"If the filing person has previously filed a statement on Schedule 13G to report the acquisition"
A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What ownership stake does Patrick L. Norris report in Norris Industries (NRIS)?
Patrick L. Norris reports beneficial ownership of 78,122,675 common shares, representing 72.17% of Norris Industries’ outstanding common stock. He has sole voting and sole dispositive power over this stake, indicating effective control of the company’s equity base.
What is the main purpose of this amended Schedule 13D/A for NRIS?
The amendment’s purpose is to remove a previously reported 1,000,000 preferred shares owned by Patrick Norris. Those preferred shares were contributed to the capital of Norris Industries for no consideration, so they are no longer counted in his reported holdings.
What change was made regarding preferred stock in this Norris Industries filing?
The amendment removes 1,000,000 preferred shares previously attributed to Patrick Norris. These preferred shares were contributed to Norris Industries’ capital for no consideration, so they are no longer reported as part of his beneficial ownership position in the filing.
AI-generated analysis. How Rhea-AI works. Not financial advice.
