Virco Mfg holder Wade Massad reports share stake
Wade Massad, identified as a more than ten percent owner of Virco Mfg Corporation (VIRC), reported his holdings of the company’s common stock, $0.01 par value per share.
Rhea-AI Filing Summary
Wade Massad, identified as a more than ten percent owner of Virco Mfg Corporation (VIRC), reported his holdings of the company’s common stock, $0.01 par value per share. He reported 49,946 shares held directly and 1,540,766 shares held indirectly through clients of Cleveland Capital Management, L.L.C., which may be deemed indirectly owned through his role as Managing Member. Massad and the related reporting persons disclaim beneficial ownership of these securities except to the extent of their pecuniary interest.
Positive
- None.
Negative
- None.
Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
Massad Wade
Role
10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| holding | Common Stock, $0.01 par value per share F2 | -- | -- | -- |
| holding | Common Stock, $0.01 par value per share F1, F2 | -- | -- | -- |
Holdings After Transaction:
Common Stock, $0.01 par value per share — 49,946 shares (Direct);
Common Stock, $0.01 par value per share — 1,540,766 shares (Indirect, See Footnotes)
Footnotes (2)
- F1. The reported securities are directly owned by clients of Cleveland Capital Management, L.L.C. and may be deemed to be indirectly owned by Wade Massad, as the Managing Member of Cleveland Capital Management, L.L.C.
- F2. Each of the Reporting Persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest therein, and this report shall not be deemed an admission that such Reporting Persons are the beneficial owners of the securities and warrants for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.
Key Figures
Direct common shares: 49946.0000 shares
Indirect common shares via clients: 1540766.0000 shares
Insider status: More than ten percent owner
3 metrics
Direct common shares
49946.0000 shares
Direct holdings of Virco common stock as of the 2026-06-04 entry
Indirect common shares via clients
1540766.0000 shares
Indirect holdings reported for clients of Cleveland Capital Management, L.L.C.
Insider status
More than ten percent owner
Reporting person classification for Wade Massad on the Form 3
Key Terms
beneficial ownership, pecuniary interest, Managing Member, Section 16 of the Securities Exchange Act of 1934
4 terms
beneficial ownership financial
"Each of the Reporting Persons disclaim beneficial ownership of the reported securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest"
Managing Member financial
"may be deemed to be indirectly owned by Wade Massad, as the Managing Member of Cleveland Capital Management"
Section 16 of the Securities Exchange Act of 1934 regulatory
"for purposes of Section 16 of the Securities Exchange Act of 1934, as amended"
A provision of federal securities law that requires company insiders—directors, officers and large shareholders—to publicly report their stock holdings and trades and to surrender any “short-swing” profits from purchases and sales within a six-month window. It acts like a rule that forces leaders to announce their trades and prevents quick buy-sell windfalls, giving investors transparency into insider activity and reducing opportunities for unfair gain.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What ownership disclaimer does Wade Massad make in the Virco (VIRC) Form 3?
The filing states that each reporting person disclaims beneficial ownership of the reported securities except to the extent of their pecuniary interest. It also clarifies that this is not an admission of beneficial ownership for Section 16 or other purposes.
Why is Wade Massad classified as a more than ten percent owner of Virco (VIRC)?
The reporting-person data identifies Wade Massad as a more than ten percent owner of Virco Mfg Corporation. His reported direct and indirect holdings together support this status, though he disclaims beneficial ownership beyond his economic interest in the securities.
AI-generated analysis. How Rhea-AI works. Not financial advice.
