[Form 4] NetSol Technologies, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Truist Financial Corporation filed Amendment No. 3 to Schedule 13G disclosing its passive ownership in First Trust Exchange-Traded Fund VIII (series believed to trade under ticker UCON; CUSIP 33740F391). The filing corrects typographical errors in a September 2024 submission.

• Beneficial ownership: 128,859 shares, representing 15.619 % of the ETF’s outstanding units.
• Voting & dispositive power: Truist has sole power to vote and dispose of all reported shares; no shared power is indicated.
• Filer status: Truist reports as a parent holding company (HC) and investment adviser (IA) under Rule 13d-1(b).
• Reason for amendment: The original filing misstated (i) the issuer CIK, and (ii) the share count at 825,000 (entire share class) instead of 128,859 held by Truist.
• Date of event: 30 Aug 2024; Signature date: 15 Jul 2025 by Vice President Edward M. Kwiatkowski.

The correction significantly lowers Truist’s previously reported stake from 100 % to ~16 %, aligning disclosures with actual holdings and reaffirming that the position is held in the ordinary course of business without intent to influence control.

Positive

• Accurate stake disclosed: Amendment clarifies Truist’s true 15.6 % position, reducing market uncertainty.
• Continued compliance: Filing affirms Truist’s intent to hold shares passively under Rule 13d-1(b) with no control ambitions.

Negative

• Prior reporting error: Original filing overstated ownership at 100 %, indicating weaknesses in Truist’s disclosure controls.
• High concentration: Even after correction, Truist controls over 15 % of the ETF, a level that may concern some investors regarding liquidity and influence.

Insights

Equity Analyst

TL;DR – Filing corrects Truist’s stake to 15.6 %; neutral corporate governance impact.

The amendment removes the misperception that Truist owned the entire ETF float. A 15.6 % holding still obliges ongoing 13G reporting but remains below levels associated with control. Because Schedule 13G is a passive ownership declaration, no strategic intent is signalled. The correction may relieve concerns of excessive concentration risk for other unit-holders, yet it does not alter the ETF’s fundamentals or Truist’s balance-sheet exposure materially. Accordingly I view the disclosure as informational with limited market impact.

Regulatory Compliance Expert

TL;DR – Amendment improves filing accuracy; highlights prior compliance lapse.

The erroneous September 2024 report overstated ownership seven-fold and cited the wrong issuer CIK, breaching Section 13(d) precision standards. Timely correction mitigates potential SEC scrutiny but underscores the importance of robust internal controls over regulatory reporting. No fines or enforcement actions are referenced, so immediate legal risk appears low. From a compliance standpoint the action is neutral-to-slightly positive, restoring data integrity without signalling additional liabilities.

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).

1. Name and Address of Reporting Person^*

GHAURI NAEEM

(Last) (First) (Middle)

C/O NETSOL TECHNOLOGIES, INC.

16000 VENTURA BLVD., SUITE 770

(Street)

ENCINO, CA 91436

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
NETSOL TECHNOLOGIES INC [ NTWK ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
07/14/2025

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

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

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

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	07/14/2025	07/14/2025	P		18,279	A	$3.85	459,853	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/ Naeem Ghauri	07/15/2025
	** 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.

FAQ

How many UCON shares does Truist Financial Corp own?

Truist reports 128,859 shares, equal to 15.619 % of the ETF’s outstanding units.

Why did Truist file Amendment No. 3 to Schedule 13G for UCON?

The amendment corrects typographical errors in issuer CIK and share count from 825,000 to the accurate 128,859 shares.

Does Truist intend to influence control of First Trust Exchange-Traded Fund VIII?

No. The certification states the shares are held in the ordinary course and not for the purpose of influencing control.

What rule permits Truist to file on Schedule 13G rather than 13D?

Truist files under Rule 13d-1(b) as a parent holding company and registered investment adviser with a passive intent.

When is the effective date of the ownership information?

The date of event requiring the filing is 30 August 2024, while the amendment was signed on 15 July 2025.