[Form 4] Triumph Financial, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Schedule 13G highlights: Individual investor William George Brumder II has filed a passive ownership report on New Horizon Aircraft Ltd. (CUSIP 64550A107). As of 13 June 2025 he beneficially owns 2,750,000 Class A Ordinary Shares, including 461,788 shares underlying exchange-traded warrants that are exercisable at $11.50 per share and expire on 12 January 2029. Based on 31,846,935 ordinary shares outstanding, the holding represents approximately 8.6 % of the company. All voting and dispositive power is held solely by Mr. Brumder; no group status is claimed. The filing is made under Rule 13d-1(c), signalling that the stake is held for investment purposes only and not to influence control. No other persons share beneficial ownership, and no additional material transactions or contingent arrangements are disclosed.

Positive

• 8.6 % passive ownership can signal investor confidence and provide a supportive shareholder base.
• Warrants priced at $11.50 suggest the holder’s upside view aligns with long-term appreciation rather than near-term dilution.

Negative

• Exercising 461,788 warrants would introduce incremental share dilution, albeit modest relative to total shares.

Insights

Financial Analyst

TL;DR Passive 8.6 % stake declared; indicates meaningful outside ownership but no control intent.

The filing adds a new beneficial owner to the register, crossing the SEC’s 5 % threshold. While sizable, it remains below the 10 % level that would trigger insider trading restrictions. The warrants, already exercisable, could create modest dilution (<1.5 % of pro-forma shares) if exercised, but the exercise price is well above most SPAC merger issue prices, limiting near-term impact. Because the Schedule 13G states no intent to influence control, the market typically views this as neutral-to-slightly positive; large individual investors can supply capital and confidence without governance disruption. Absent information on purchase price or timing, valuation impacts are minimal.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Davis Richard Loren

(Last) (First) (Middle)

12700 PARK CENTRAL DRIVE

SUITE 1700

(Street)

DALLAS TX 75251

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Triumph Financial, Inc. [ TFIN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2025		A		613(1)	A	$0(1)	55,280(2)	D
Common Stock								74,079(3)	I	By Rick Davis 2006 Family Trust
Common Stock								74,079(4)	I	By Sheree Davis 2006 Children's Trust
Depository Shares(5)								20,000	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents shares of Common Stock of Issuer granted to the reporting person under Issuer's 2014 Omnibus Incentive Plan. All of such shares were fully vested as of the date of grant.

2. Consists of (i) 17,740 shares of Common Stock of Issuer beneficially owned by reporting person, and (ii) 37,540 shares of Common Stock of Issuer beneficially owned jointly with reporting person's spouse Sheree Davis

3. These 74,079 shares are beneficially owned by reporting person as trustee of the Rick Davis 2006 Family Trust. Reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

4. These 74,079 shares are beneficially owned by reporting person as trustee of the Sheree Davis 2006 Children's Trust. Reporting person disclaims beneficial ownership of such shares except to the extent of his pecuniary interest therein.

5. Each Depository Share represents a 1/40th interest in a share of the Issuer's 7.125% Series C Fixed Rate Non-Cumulative Perpetual Preferred Stock, par value $0.01 per share.

Remarks:

	/s/ Adam D. Nelson, Attorney-in-fact	07/02/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many New Horizon Aircraft (HOVRW) shares does William George Brumder own?

He beneficially owns 2,750,000 Class A Ordinary Shares, including warrant shares.

What percentage of New Horizon Aircraft does this stake represent?

The holding equals approximately 8.6 % of outstanding shares.

What securities form part of the holding?

The position includes 2,288,212 common shares and 461,788 warrants exercisable into shares.

At what price can the warrants be exercised?

The warrants are exercisable at $11.50 per share.

When do the warrants held by Mr. Brumder expire?

They expire at 5:00 p.m. EDT on 12 January 2029, unless earlier redeemed or liquidated.

Does the filing indicate an intent to control New Horizon Aircraft?

No. The Schedule 13G is filed under Rule 13d-1(c), indicating passive investment intentions.