SENEB insider disposals and 401(k) holdings disclosed on Form 4
Rhea-AI Filing Summary
Seneca Foods Corp reporting person Michael S. Wolcott, SVP, CFO & Treasurer, filed a Form 4 disclosing transactions on 08/25/2025. The filing shows a gift transaction of 320 Class B common shares (Transaction Code G) with a reference price of $108.51 per share. The report also lists disposals of 9,781 Class A common, 15,835 Class B common, and 40,844 6% preferred shares (all shown as disposed). Separately, the filer holds 633 Class A and 167 Class B units indirectly in the company 401(k) Stock Fund, which fluctuates daily and includes cash for transfers.
Positive
- None.
Negative
- None.
Insights
TL;DR Routine insider disposition and a small gift; holdings in the 401(k) are unitized and fluctuate daily.
The filing documents multiple disposals of differing security classes and a gift of 320 Class B shares recorded at the Class B closing price of $108.51 on the transaction date. The report identifies indirect holdings of 633 Class A and 167 Class B units through the company 401(k) Stock Fund; the filer notes these unit counts change daily and include recent elective deferrals and company matches exempt from reporting. These are routine Section 16 disclosures without additional operational or financial information about the company.
TL;DR Disclosure shows standard insider reporting of dispositions and a gift; 401(k) holdings are disclosed as indirect units.
The Form 4 correctly identifies the reporting person, relationship to the issuer, and class-by-class changes in beneficial ownership. Transaction codes and the explanation clarify that the 401(k) Stock Fund holdings are unitized and that certain plan contributions were exempt from reporting under Rule 16a-3(f)(1)(i)(B). The filing appears procedural and consistent with Section 16 reporting obligations.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Seneca Foods Class B Common | 320 | $108.51 | $35K |
| holding | Seneca Foods Class A Common | -- | -- | -- |
| holding | Seneca Foods 6% Preferred | -- | -- | -- |
| holding | Seneca Foods Class A Common | -- | -- | -- |
| holding | Seneca Foods Class B Common | -- | -- | -- |
Footnotes (1)
- These holdings reflect the Reporting Person's units in the Seneca Foods Corporation Stock Fund (the "Stock Fund") under the 401(k) Plan. The Stock Fund is a unitized stock fund that holds shares of Class A common stock as well as shares of Class B common stock. A cash balance is also maintained in the Stock Fund to facilitate transfers between investment fund options in the 401(k) Plan. The actual number of shares of Class A common stock and Class B common stock owned by the Reporting Person fluctuates daily based on the Stock Fund's aggregate holdings. The Reporting Person's holdings under the 401(k) Plan also include additional units acquired in connection with elective deferrals and Company matching contributions since the Reporting Person's last beneficial ownership report. Those transactions were exempt from reporting pursuant to Rule 16a-3(f)(1)(i)(B). Price per share is the closing price of Seneca Foods Corporation Class B common stock on the date of the gift.
