[Form 4] RMR GROUP INC. Insider Trading Activity
Adam D. Portnoy, Managing Director, President & CEO and director of RMR Group, reported a Form 4 disclosing a non-derivative disposition on 09/16/2025. The filing shows 7,775 shares of Class A common stock were disposed at a reported price of $17.28 per share, and the disposition is explained as payment of tax liability by withholding securities incident to the vesting of previously issued securities. Following the transaction Mr. Portnoy is reported to beneficially own 154,797 shares directly and 90,564 shares indirectly through ABP Trust, for which he is the sole trustee and controlling shareholder though he disclaims beneficial ownership except for his pecuniary interest.
Adam D. Portnoy, Amministratore delegato, Presidente e CEO e membro del consiglio di RMR Group, ha riportato in un modulo 4 una disposizione non derivativa avvenuta il 16/09/2025. La dichiarazione mostra la cessione di 7.775 azioni ordinarie di Classe A al prezzo riferito di $17,28 per azione, e la vendita è descritta come pagamento dell’obbligo fiscale mediante trattenuta di strumenti al vesting di titoli precedentemente emessi. A seguito della transazione, Portnoy risulta essere detentore beneficiario diretto di 154.797 azioni direttamente e di 90.564 azioni indirettamente tramite ABP Trust, per il quale è l’unico fiduciario e azionista di controllo, sebbene lui rinunci a una titolarità vantaggiosa salvo per il proprio interesse pecuniario.
Adam D. Portnoy, Director ejecutivo, Presidente y CEO y director de RMR Group, informó en un Formulario 4 de una disposición no derivada realizada el 16/09/2025. El documento indica la cesión de 7.775 acciones ordinarias de Clase A a un precio reportado de $17,28 por acción, y la disposición se explica como pago de la obligación tributaria mediante la retención de valores incidentes al vesting de valores emitidos previamente. Tras la transacción, Portnoy figura como beneficiario directo de 154.797 acciones de forma directa y 90.564 acciones indirectamente a través de ABP Trust, del cual es único fiduciario y accionista controlador, aunque él renuncia a la titularidad beneficiosa salvo por su interés pecuniario.
Adam D. Portnoy는 RMR Group의 managing director, 회장 겸 CEO 및 이사회 이사로서 2025년 9월 16일에 비유동적 매도를 공시하는 Form 4를 제출했습니다. 제출 내용에 따르면 7,775주의 Class A 보통주가 주당 보고가 $17.28에 매각되었으며, 해당 매각은 이전에 발행된 주식의 vesting으로 인한 증권 원천징수에 따른 세금 채무의 지급으로 설명됩니다. 거래 후 Portnoy는 직접 보유 154,797주와 ABP Trust를 통해 간접 보유 90,564주를 보유한 것으로 보고되며, ABP Trust의 유일한 신탁 관리인 및 지배 주주이지만, 자신의 금전적 이해관계를 제외하고는 실질적 소유권을 포기합니다.
Adam D. Portnoy, Directeur général, Président et CEO et administrateur du groupe RMR, a déclaré dans un formulaire 4 une cession non dérivée réalisée le 16/09/2025. Le dossier indique la cession de 7 775 actions ordinaires de Classe A à un prix affiché de $17,28 par action, et la cession est expliquée comme paiement de l’impôt par retenue de titres liés à la vesting des titres émis précédemment. Suite à la transaction, M. Portnoy est rapporté comme détenant directement 154 797 actions et indirectement via ABP Trust 90 564 actions, pour lesquelles il est le seul fiduciaire et actionnaire contrôlant, bien qu’il renonce à la titularité bénéficiaire sauf pour son intérêt pécuniaire.
Adam D. Portnoy, Geschäftsführer, Präsident & CEO und Director der RMR Group, hat in einem Form 4 eine nicht derivative Veräußerung am 16.09.2025 gemeldet. In der Einreichung werden 7.775 Class-A-Aktien zu einem gemeldeten Kurs von $17,28 pro Aktie veräußert, und die Veräußerung wird als Zahlung der Steuerverbindlichkeit durch Einbehalt von Wertpapieren, die mit dem Vesting verbunden sind der zuvor ausgegebenen Wertpapiere erklärt. Nach der Transaktion wird Portnoy als direkt und indirekt über ABP Trust gehaltenen Inhaber von insgesamt 154.797 bzw. 90.564 Aktien gemeldet, wobei er der alleinige Treuhänder und beherrschende Aktionär ist, er jedoch von einer begünstigten Eigentümerschaft absehen hat, außer seinem finanziellen Interesse.
Adam D. Portnoy، مدير عام، رئيس ومدير تنفيذي ومُدير في مجموعة RMR، أبلغ عن نموذج 4 يكشف عن تصرف غير مشتق في 16/09/2025. تُظهر الإفادة بيع 7,775 سهماً عاديًا من الفئة A بسعر مذكور قدره $17.28 للسهم، ويتم شرح التصرف كـ دفع للالتزام الضريبي من خلال حجز الأوراق المالية المرتبطة بنظام vesting للأوراق المالية المُصدرة سابقاً. عقب الصفقة، يُذكر أن Portnoy يملك بشكل مباشر 154,797 سهمًا وبشكل غير مباشر من خلال ABP Trust 90,564 سهمًا، وهو الوصي الوحيد والمساهم المسيطر، مع أنه يتنصل من الملكية المفيدة باستثناء مصلحته المالية.
Adam D. Portnoy，RMR Group 的执行董事、总裁兼首席执行官及董事，在 2025/09/16 报告了一份 Form 4，披露一次非衍生处置。文件显示以报告价格 $17.28 每股，处置 7,775 股 Class A 普通股，处置原因说明为 通过扣留与归属相关的证券来支付税务义务，这是对先前发行证券的 vesting。交易完成后，Portnoy 直接持有 154,797 股，透过 ABP Trust 间接持有 90,564 股；他是唯一受托人及控股股东，尽管他除对自身财务利益的权利外，否认拥有受益所有权。
- Timely disclosure of insider transaction under Section 16 is provided
- Transaction explicitly described as tax-withholding tied to vesting, clarifying purpose
- Ownership breakdown includes both direct and indirect holdings with trustee disclaimer
- Reported disposition of 7,775 Class A shares reduces direct holdings
- Indirect beneficial ownership through ABP Trust may complicate clear ownership picture despite disclaimer
Insights
TL;DR: Routine tax-withholding disposition by a named executive; limited direct share reduction disclosed.
The Form 4 documents a standard withholding transaction tied to vesting rather than an open-market sale. The reported disposal of 7,775 Class A shares at $17.28 appears to satisfy tax obligations for vested securities, leaving Mr. Portnoy with 154,797 directly held shares and an additional 90,564 held via ABP Trust. This disclosure is material for transparency but does not by itself indicate strategic liquidation or a change in control. Market impact is likely minimal absent further transactions.
TL;DR: Insider filed required disclosure; transaction attributed to tax withholding on vested awards.
The filing appropriately identifies Mr. Portnoy's roles as director and officer and provides the nature of indirect ownership through ABP Trust along with the trustee relationship and disclaimer. The transaction code and explanatory footnotes clarify that the disposition was to satisfy tax withholding obligations arising from vesting, which is a common governance event following equity compensation. The disclosure supports compliance with Section 16 reporting requirements.
Adam D. Portnoy, Amministratore delegato, Presidente e CEO e membro del consiglio di RMR Group, ha riportato in un modulo 4 una disposizione non derivativa avvenuta il 16/09/2025. La dichiarazione mostra la cessione di 7.775 azioni ordinarie di Classe A al prezzo riferito di $17,28 per azione, e la vendita è descritta come pagamento dell’obbligo fiscale mediante trattenuta di strumenti al vesting di titoli precedentemente emessi. A seguito della transazione, Portnoy risulta essere detentore beneficiario diretto di 154.797 azioni direttamente e di 90.564 azioni indirettamente tramite ABP Trust, per il quale è l’unico fiduciario e azionista di controllo, sebbene lui rinunci a una titolarità vantaggiosa salvo per il proprio interesse pecuniario.
Adam D. Portnoy, Director ejecutivo, Presidente y CEO y director de RMR Group, informó en un Formulario 4 de una disposición no derivada realizada el 16/09/2025. El documento indica la cesión de 7.775 acciones ordinarias de Clase A a un precio reportado de $17,28 por acción, y la disposición se explica como pago de la obligación tributaria mediante la retención de valores incidentes al vesting de valores emitidos previamente. Tras la transacción, Portnoy figura como beneficiario directo de 154.797 acciones de forma directa y 90.564 acciones indirectamente a través de ABP Trust, del cual es único fiduciario y accionista controlador, aunque él renuncia a la titularidad beneficiosa salvo por su interés pecuniario.
Adam D. Portnoy는 RMR Group의 managing director, 회장 겸 CEO 및 이사회 이사로서 2025년 9월 16일에 비유동적 매도를 공시하는 Form 4를 제출했습니다. 제출 내용에 따르면 7,775주의 Class A 보통주가 주당 보고가 $17.28에 매각되었으며, 해당 매각은 이전에 발행된 주식의 vesting으로 인한 증권 원천징수에 따른 세금 채무의 지급으로 설명됩니다. 거래 후 Portnoy는 직접 보유 154,797주와 ABP Trust를 통해 간접 보유 90,564주를 보유한 것으로 보고되며, ABP Trust의 유일한 신탁 관리인 및 지배 주주이지만, 자신의 금전적 이해관계를 제외하고는 실질적 소유권을 포기합니다.
Adam D. Portnoy, Directeur général, Président et CEO et administrateur du groupe RMR, a déclaré dans un formulaire 4 une cession non dérivée réalisée le 16/09/2025. Le dossier indique la cession de 7 775 actions ordinaires de Classe A à un prix affiché de $17,28 par action, et la cession est expliquée comme paiement de l’impôt par retenue de titres liés à la vesting des titres émis précédemment. Suite à la transaction, M. Portnoy est rapporté comme détenant directement 154 797 actions et indirectement via ABP Trust 90 564 actions, pour lesquelles il est le seul fiduciaire et actionnaire contrôlant, bien qu’il renonce à la titularité bénéficiaire sauf pour son intérêt pécuniaire.
Adam D. Portnoy, Geschäftsführer, Präsident & CEO und Director der RMR Group, hat in einem Form 4 eine nicht derivative Veräußerung am 16.09.2025 gemeldet. In der Einreichung werden 7.775 Class-A-Aktien zu einem gemeldeten Kurs von $17,28 pro Aktie veräußert, und die Veräußerung wird als Zahlung der Steuerverbindlichkeit durch Einbehalt von Wertpapieren, die mit dem Vesting verbunden sind der zuvor ausgegebenen Wertpapiere erklärt. Nach der Transaktion wird Portnoy als direkt und indirekt über ABP Trust gehaltenen Inhaber von insgesamt 154.797 bzw. 90.564 Aktien gemeldet, wobei er der alleinige Treuhänder und beherrschende Aktionär ist, er jedoch von einer begünstigten Eigentümerschaft absehen hat, außer seinem finanziellen Interesse.
FAQ
What transaction did RMR insider Adam Portnoy report on Form 4?
Why were the 7,775 shares disposed according to the filing?
How many RMR shares does Adam Portnoy beneficially own after the reported transaction?
What is Adam Portnoy's relationship to RMR Group?
What does the filing say about the ABP Trust holdings?
