Presurance Holdings (PRHI) insider exercises rights into common stock
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Presurance Holdings, Inc. reported that 10% owner Clarkston Ventures, LLC exercised subscription rights in an out-of-the-money derivative transaction. Clarkston exercised 3,735,769 subscription rights at $0.00 per right and received 4,277,455 shares of common stock at $1.00 per share.
After the transaction, Clarkston reported owning 8,013,224 shares of Presurance common stock directly. A footnote states that Clarkston disclaims beneficial ownership of all shares held in client accounts.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Clarkston Ventures, LLC
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| O | Subscription Rights (right to buy) | 3,735,769 | $0.00 | -- |
| O | Common Stock | 4,277,455 | $1.00 | $4.28M |
Holdings After Transaction:
Subscription Rights (right to buy) — 0 shares (Direct);
Common Stock — 8,013,224 shares (Direct)
Footnotes (1)
- [object Object]
FAQ
What insider transaction did Clarkston Ventures report for CNFR/Presurance Holdings?
Clarkston Ventures, a 10% owner of Presurance Holdings, reported exercising subscription rights in an out-of-the-money derivative transaction. It converted 3,735,769 rights into 4,277,455 common shares at $1.00 per share, increasing its reported direct common stock position.
What transaction code and description are used in this Presurance Holdings Form 4?
The Form 4 uses transaction code “O” with the description “Exercise of out-of-the-money derivative security.” This applies both to the subscription rights and the resulting common stock, indicating the activity was a derivative exercise rather than a standard open-market purchase or sale.