U-Haul (UHALB) insider entities swap 229,515 Series N shares for Holdfast stake
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SHOEN MARK V reported open-market purchase transactions in this Form 4 filing.
U-Haul Holding Co. insider Mark V. Shoen reported a restructuring of indirect ownership in Series N Common Stock through family investment entities. A trust associated with him, MVS-029 Trust, sold 229,515 Series N Common shares to Blackwater Investments, Inc. in exchange for all outstanding equity interests in Holdfast Marine, LLC, valued at approximately $11.8 million for this transaction. Blackwater is a wholly owned subsidiary of Willow Grove Holdings LP, and MVS-029 Trust is a limited partner of Willow Grove, so Shoen may be deemed to have indirect beneficial ownership of shares held by Blackwater and Willow Grove. The filing notes that he disclaims beneficial ownership of many of these indirectly held shares except to the extent of his pecuniary interest, reflecting a complex family ownership structure rather than a simple personal stock trade.
Positive
- None.
Negative
- None.
Insider Trade Summary
13 transactions reported
Net Buy
13 txns
Insider
SHOEN MARK V
Role
10% Owner
Bought
229,515 shs ($0.00)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Series N Common Stock | 229,515 | $0.00 | -- |
| Purchase | Series N Common Stock | 229,515 | $0.00 | -- |
| holding | Series N Common Stock | -- | -- | -- |
| holding | Series N Common Stock | -- | -- | -- |
| holding | Series N Common Stock | -- | -- | -- |
| holding | Series N Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Holdings After Transaction:
Series N Common Stock — 425,196 shares (Indirect, MVS-029 Trust);
Series N Common Stock — 42,962 shares (Direct);
Common Stock — 4,770 shares (Direct);
Common Stock — 6,707 shares (Indirect, Shoen Family Revocable Trust)
Footnotes (1)
- This Form 4 is being filed in connection with a sale by the MVS-029 Trust of 229,515 shares of Series N Common Stock to Blackwater Investments, Inc. ("Blackwater") in exchange for all of the outstanding equity interests in Holdfast Marine, LLC, which were valued for purposes of this transaction at approximately $11.8 million. Blackwater is a wholly owned subsidiary of Willow Grove Holdings, LP ("Willow Grove"), and MVS-029 Trust is a limited partner of Willow Grove. Accordingly, the Reporting Person may be deemed to have indirect beneficial ownership of the Series N Common Stock held by Blackwater and Willow Grove. Includes shares held by the MVS-029 Trust, for which the Reporting Person is a trustee and one of the beneficiaries. The Reporting Person disclaims beneficial ownership of shares held by the MVS-029 Trust except to the extent of his pecuniary interest therein. Willow Grove is owned and controlled by Foster Road LLC and various trusts associated with the Reporting Person and Edward J. Shoen. Foster Road LLC is the general partner of Willow Grove and is managed by the Reporting Person and Stuart Shoen. Blackwater is a wholly owned subsidiary of Willow Grove. Clarendon Strategies, LLC ("Clarendon") and SAC Holding Corporation ("SAC") are wholly owned subsidiaries of Blackwater. The Reporting Person disclaims beneficial ownership of shares held directly and indirectly by Willow Grove, Clarendon, Blackwater and SAC except to the extent of his pecuniary interest therein. Includes shares held by the EJS-028 Trust for which the Reporting Person is an independent trustee. The Reporting Person disclaims beneficial ownership of shares held by the EJS-028 Trust and the filing of this Form 4 shall not be deemed an admission that he is the beneficial owner of the securities for purposes of Section 16 of the Exchange Act or for any other purpose. Includes shares held by the Shoen Family Revocable Trust for which the Reporting Person is a trustee and the Reporting Person and his spouse are beneficiaries.
FAQ
What insider transaction did Mark V. Shoen report for UHAL on this Form 4?
The Form 4 reports a restructuring of indirect ownership in U-Haul Series N Common Stock. MVS-029 Trust sold 229,515 shares to Blackwater Investments, Inc. in exchange for all equity in Holdfast Marine, LLC valued at approximately $11.8 million.
Who are MVS-029 Trust and Blackwater Investments, Inc. in relation to U-Haul insider Mark V. Shoen?
MVS-029 Trust is a limited partner of Willow Grove Holdings LP, and Blackwater Investments, Inc. is a wholly owned subsidiary of Willow Grove. These entities are associated with Mark V. Shoen, who may be deemed to have indirect beneficial ownership through them.