Smith-Midland (SMID) Insider Files Form 144/A for 15,000 Shares

Rhea-AI Filing Summary

Smith-Midland Corporation (SMID) Form 144/A: A security holder notified an intended sale of 15,000 common shares through Raymond James & Associates on 08/19/2025, with an aggregate market value of $628,350.00. The filing shows total shares outstanding of 5,304,606, which provides context for the size of the proposed sale relative to the company. The shares were acquired by the seller via stock options on 05/06/2011 (80,000 shares) and 12/11/2013 (20,000 shares), with cash payment dates matching acquisition dates. The filer certifies no undisclosed material adverse information is known.

Insights

Securities Analyst

TL;DR: Routine Rule 144 notice for a small sale relative to outstanding shares; likely neutral for valuation.

The filing documents a proposed sale of 15,000 common shares valued at $628,350 to be executed through Raymond James on 08/19/2025. Relative to the issuer's 5,304,606 shares outstanding, the position represents approximately 0.28% of the float, indicating limited direct market impact. The shares were acquired by option exercise in 2011 and 2013 and paid in cash, suggesting long-held holdings rather than recent insider purchases. No sales in the prior three months are reported. Overall, this appears to be a routine disclosure under Rule 144.

Corporate Governance Expert

TL;DR: Disclosure aligns with regulatory requirements; signer affirms absence of undisclosed material information.

The Form 144/A contains the required broker, share quantity, and acquisition-history details consistent with Rule 144 disclosures. The filer’s representation that they are unaware of undisclosed material adverse information is included in the signature block. There are no indications of aggregated sales required under Rule 144(e) and no reported sales in the past three months. From a governance perspective, the document fulfills standard transparency obligations for insider or affiliated-party dispositions.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144/A

144/A: Filer Information

Filer CIK
Filer CCC
Previous Accession Number Of The Filing
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144/A: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144/A: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Raymond James & Associates 880 Carillon Parkway St. Petersburg FL 33716	15000	628350.00	5304606	08/19/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144/A: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	05/06/2011	Stock Option	Issuer			80000	05/06/2011	Cash
Common	12/11/2013	Stock Option	Issuer			20000	12/11/2013	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144/A: Securities Sold During The Past 3 Months

Nothing to Report

144/A: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does the SMID Form 144/A report?

The filing reports a proposed sale of 15,000 common shares via Raymond James on 08/19/2025 with aggregate market value $628,350.00.

How many SMID shares are outstanding per the filing?

The filing lists 5,304,606 shares outstanding.

When were the shares being sold originally acquired according to the filing?

The securities were acquired by stock option exercises on 05/06/2011 (80,000 shares) and 12/11/2013 (20,000 shares), paid in cash on those dates.

Which broker is handling the proposed sale of SMID shares?

The broker named is Raymond James & Associates, located at 880 Carillon Parkway, St. Petersburg, FL.

Does the filing report any sales in the past three months for the seller?

No. The section for securities sold during the past three months states 'Nothing to Report'.