SXI Form 4A corrects 2,779-share sale, clarifies trust transaction
Rhea-AI Filing Summary
Standex International director Charles H. Cannon Jr. filed an amended Form 4 clarifying insider trading reported for May 9, 2025. The amendment corrects an earlier filing that mistakenly showed a direct sale of 2,779 common shares; the amendment states that the sale was executed by a trust rather than by Mr. Cannon personally. The transaction price shown on the form is $154.67.
The filing indicates beneficial ownership following the reported transaction includes 13,751 shares held indirectly as Trustee of a trust and a separate direct position of 2,936 shares. The amendment was submitted to remedy the original Form 4 filed May 13, 2025, and the document is signed on August 14, 2025.
Positive
- Amendment improves disclosure by correcting the record that the 2,779-share sale was executed by a trust, enhancing transparency
- Beneficial ownership totals remain documented, showing 13,751 shares indirectly as Trustee and 2,936 shares directly
Negative
- Initial Form 4 contained a misstatement that reported a trust sale as a direct sale, indicating a reporting error
Insights
TL;DR Amendment corrects reporting to show a trust, not the director, executed a 2,779-share sale on 05/09/2025.
The corrected Form 4 improves the accuracy of beneficial ownership disclosure by clarifying that the 2,779-share transaction at $154.67 was a trust sale rather than a direct sale by the director. This adjustment does not alter total reported holdings but changes the allocation between direct and indirect holdings, showing 13,751 shares held indirectly as Trustee and a separate direct holding of 2,936 shares. From a reporting and compliance perspective, the amendment reduces ambiguity about who executed the trade and helps maintain transparency for shareholders and regulators.
TL;DR A remedial filing corrects an ownership designation; this is governance-focused, not an operational development.
This Form 4A indicates a reporting error was corrected: a previously reported direct sale of 2,779 shares was actually a trust sale. Such remedial amendments are a common governance practice to ensure Section 16 filings accurately reflect beneficial ownership. The correction signals attention to compliance controls but does not, by itself, imply any change in insider intent or company fundamentals. Materiality for investors is low, limited to improved clarity on who holds and sold the shares.