Rgc Resources SEC Filings

Ligand Pharmaceuticals Inc. has filed a Form 3 as an initial statement of beneficial ownership in Pelthos Therapeutics Inc. (ticker PTHS) dated July 1, 2025. The filing shows Ligand as a 10%+ owner, disclosing ownership of Series A convertible preferred stock that can be converted into 1,800,000 common shares after adjustment for the issuer’s 1-for-10 reverse split executed on the same date. The preferred shares are convertible at the holder’s election with no stated expiration, but are contractually capped so that Ligand’s post-conversion stake cannot exceed 49.9% of PTHS’s outstanding common stock. All reported securities are held directly by Ligand. The form was signed by Octavio Espinoza, CFO of Ligand, on July 2, 2025.

Affirm Holdings, Inc. (AFRM) – Form 4 insider transaction

Chief Legal Officer Katherine Adkins settled vested restricted stock units (RSUs) on 01 July 2025. The settlement converted a total of 2,012 RSUs into an equivalent number of Class A common shares.

• Acquisition (Code M): 1,706 shares issued at $0 cost from RSU conversion.
• Withholding (Code F): 773 shares automatically surrendered at $67.10 to cover statutory taxes, leaving a net 933-share increase.

Following these transactions, Adkins directly owns 112,467 Class A shares. She retains 21,450 unvested RSUs across two grants that vest monthly through 2026, signalling continued equity alignment with shareholders. No open-market sales occurred; all dispositions were tax related, making the filing largely administrative.

SEC Form 4 filing for Culp, Inc. (CULP) dated 3 July 2025 discloses an insider purchase by President & CEO Robert G. Culp IV. On 1 July 2025, the executive acquired 12,000 shares of CULP common stock through the company’s 401(k) plan at an estimated price of $4.15 per share, a transaction valued at roughly $49,800.

Following the acquisition, Culp’s 401(k) plan holdings rose to 104,030 shares. In addition, the filing shows 281,775 shares held directly outside the plan and 1,740 shares each in two irrevocable trusts for his children over which he retains sole voting and investment power. This brings his total reported beneficial ownership to approximately 389,285 shares of CULP common stock.

No sales, option exercises, or other derivative transactions were reported, and Table II is empty. The sole activity is a direct purchase, signalling incremental insider confidence but involving a relatively modest dollar amount for a chief executive of a small-cap firm.

RGC Resources Inc. (RGCO) – Form 4 Insider Transaction Filing

Director Elizabeth A. McClanahan reported one transaction dated July 1, 2025 under the company’s Restricted Stock Plan for Outside Directors:

• Security: Common stock
• Type: Acquisition (code “A”)
• Shares acquired: 84.355
• Price: $22.84 per share (fair-value issuance, not open-market purchase)
• Total direct holdings after transaction: 3,811.115 shares

No derivative securities were involved and there were no dispositions. The filing indicates the shares were issued as part of regular director compensation rather than a discretionary purchase. The small share count (<1% of outstanding) and routine nature suggest minimal near-term impact on the company’s capital structure or insider-sentiment signals.

Citi’s preliminary pricing supplement details a new structured note—Autocallable Contingent Coupon Equity Linked Securities—issued by Citigroup Global Markets Holdings Inc. and fully guaranteed by Citigroup Inc. The securities are linked to the common stock of Builders FirstSource, Inc. (NYSE: BLDR) and combine a high contingent coupon with material downside risk to principal. Key characteristics follow:

• Size & Structure: $1,000 principal per note; unsecured senior debt (Series N) of Citigroup Global Markets Holdings Inc. with Citigroup Inc. guarantee.
• Tenor: Scheduled maturity 20 July 2028 (≈3-year term) unless earlier redeemed.
• Contingent Coupon: At least 2.6875 % quarterly (≥10.75 % p.a.). Paid only if BLDR’s closing price on the relevant valuation date is ≥ the coupon-barrier (55 % of initial value). Missed coupons accrue and are payable if a later valuation date meets the barrier.
• Autocall Feature: Beginning 16 Jan 2026 and on each subsequent valuation date (10 dates in total), the notes are automatically redeemed at $1,000 plus the due coupon if BLDR closes ≥ its initial value.
• Principal Repayment: • If not called and BLDR’s final value ≥ 55 % of initial, investors receive full principal plus final coupon. • If final value <55 %, repayment equals $1,000 + ($1,000 × underlying return), exposing investors to 1-for-1 downside, potentially down to $0.
• Barriers & Reference Values (to be set on 16 Jul 2025): • Initial value: BLDR close on pricing date • Coupon-barrier: 55 % of initial • Final-barrier: 55 % of initial.
• Issue Economics: Issue price $1,000, estimated value ≈$906 (reflecting dealer models and internal funding rate). Underwriting fee up to $25 (2.5 %), reduced to $0 for fee-based advisory accounts (issue price $975).
• Liquidity & Listing: Not exchange-listed; secondary market, if any, solely at dealer discretion.
• Credit Exposure: All payments depend on the creditworthiness of Citigroup Global Markets Holdings Inc. and Citigroup Inc.

Risk highlights include potential loss of entire principal, non-payment of contingent coupons, high volatility of BLDR, early redemption cutting off income, estimated value below issue price, limited liquidity, complex U.S. tax treatment, and traditional credit risk of Citigroup entities. The product is designed for sophisticated investors seeking elevated yield who can tolerate equity risk, call risk, credit risk, and limited upside participation.

Abu Dhabi Investment Authority (ADIA) and affiliated vehicles have filed Amendment No. 3 to their Schedule 13D for ReNew Energy Global plc. The filing shows that ADIA, Platinum Cactus A 2019 Trust and Platinum Hawk C 2019 RSC Ltd. collectively own 58,170,916 Class A ordinary shares—23.8 % of the 244,266,823 shares outstanding as of 31 Mar 2024.

Revised take-private proposal: On 2 Jul 2025 the ADIA-led consortium (which also includes Canada Pension Plan Investment Board, Abu Dhabi Future Energy Company PJSC-Masdar and Sumant Sinha) submitted a non-binding proposal to acquire all remaining shares at $8.00 per share. The price represents an increase over the consortium’s December 2024 offer (amount not restated here) and would bring the company fully under private ownership if executed.

Process update: The consortium signed Amendment No. 1 to the Bid Conduct Agreement on 3 Jul 2025, extending the outside date for exclusivity restrictions to 30 Sep 2025. No definitive agreement has been signed; therefore, the proposal may be withdrawn or altered until binding documents are executed.

Governance & mechanics: • ADIA controls voting and disposition rights; Platinum Hawk, as trustee, holds dispositive power only. • Source of funds is “OO” (other). • A new exhibit list (99.7 & 99.8) attaches the revised proposal and agreement amendment.

Investment view: The higher cash offer is potentially value-accretive for minority holders and signals continued intent to close a take-private transaction, but deal certainty remains low because the bid is still non-binding and subject to negotiation, due diligence and committee approval.

Form 4 filing: RGC Resources Inc. (RGCO) reports that outside director Jacqueline L. Archer acquired 229.13 shares of common stock on 07/01/2025 under the company’s Restricted Stock Plan for Outside Directors. The shares were booked at an indicated value of $22.84 per share, bringing Ms. Archer’s direct ownership to 18,872.068 shares.

The transaction is coded “A,” confirming it is an award/grant rather than an open-market purchase. No derivative securities were involved and there were no dispositions. The filing is routine compensation-related and does not reflect a change in company fundamentals, but it does modestly increase insider ownership alignment.

American International Group (AIG) filed a Form 4 indicating that non-employee director Courtney Leimkuhler acquired 17 deferred stock units (DSUs) on 07/01/2025. The DSUs represent dividend-equivalent rights attached to previously awarded DSUs under AIG’s 2021 Omnibus Incentive Plan and will convert to AIG common stock on a 1-for-1 basis when board service ends, unless a deferral election is made.

After the transaction, Leimkuhler beneficially owns 2,289 DSUs. The acquisition was coded “A” (award) rather than an open-market purchase and involved no cash consideration. Given the small size relative to AIG’s share count, the filing is viewed as a routine alignment of director compensation with shareholder interests rather than a signal of material corporate developments.

RGC Resources Inc. (RGCO) – Insider Transaction Report (Form 4)

On 24 June 2025, Thomas Patrick Furcron, Vice President – Field Operations, sold 272 shares of RGCO common stock at an average price of $22.1551 per share, for an estimated total value of roughly $6,000. Following the sale, Furcron’s direct holdings stand at 997.363 shares. No derivative securities were reported.

The filing represents a routine Section 16 disclosure, with no accompanying narrative explaining the motivation for the trade. The transaction reduced Furcron’s directly held position by approximately 21% compared with the pre-sale amount (1,269.363 shares). No other insiders or additional transactions were disclosed in this filing.