[Form 4] THERMON GROUP HOLDINGS, INC. Insider Trading Activity

Rhea-AI Filing Summary

On 30 June 2025, Republic Bancorp Inc. (RBCAA) director Andrew Trager Kusman filed a Form 4 documenting a minor automatic acquisition of 44.19 Class A common shares at $73.11 per share, apparently tied to dividend-equivalent rights. Post-transaction, the insider holds 1,525.35 Class A shares directly. Indirect ownership remains sizeable through family limited partnerships: 10,867.721 shares via Jaytee Properties LP and 262,603.221 shares via Teebank Family LP. In addition, Class B shares—convertible 1-for-1 into Class A—represent a further 66,710.717 underlying shares held indirectly. No shares were sold, and no derivative conversions occurred. The filing contains no operational or financial guidance and is unlikely to be materially impactful for investors.

Insights

Securities Analyst

TL;DR Minor insider purchase; total ownership stable at ~276k shares, no sales, low market impact.

The reported acquisition of 44.19 shares is de minimis relative to Mr. Kusman’s existing direct and indirect stake exceeding 275k shares. The transaction was coded "A," indicating an automatic or dividend-related acquisition rather than an open-market buy, so it offers limited signaling value. Importantly, there were no disposals, preserving insider alignment with shareholders. Given RBCAA’s average daily volume, the size of the purchase is immaterial and should not affect liquidity or valuation. Overall, the filing is routine, leaves corporate governance unchanged, and merits a neutral impact rating.

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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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^*

FIX ROGER L

(Last) (First) (Middle)

7171 SOUTHWEST PARKWAY

BUILDING 300, SUITE 200

(Street)

AUSTIN TX 78735

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Thermon Group Holdings, Inc. [ THR ]

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		830(1)	A	$28.61	33,096	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. Award pursuant to Issuer's Non-Employee Director Compensation Program.

Remarks:

	/s/ Ryan Tarkington, 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

What did RBCAA director Andrew Trager Kusman acquire on 30 June 2025?

44.19 Class A common shares at a price of $73.11 per share.

How many RBCAA shares does Kusman now own directly?

He directly holds 1,525.35 Class A shares after the transaction.

Were any RBCAA shares sold in this Form 4 filing?

No. The filing reports only an acquisition; no dispositions were made.

What entities hold Kusman’s indirect RBCAA ownership?

Indirect stakes reside in Jaytee Properties LP (10,867.721 shares) and Teebank Family LP (262,603.221 shares).

Does the filing include derivative securities?

Yes. Class B shares convertible into 66,710.717 Class A shares are held indirectly through the same partnerships.