Neil J. Hennessy - 22 Jun 2023 Form 4 Insider Report for HENNESSY ADVISORS INC (HNNA)

Signature
/s/ Peter D. Fetzer, Attorney-in-Fact for Neil J. Hennessy
Issuer symbol
HNNA
Transactions as of
22 Jun 2023
Net transactions value
+$12,588
Form type
4
Filing time
23 Jun 2023, 17:58:04 UTC
Previous filing
21 Jun 2023
Next filing
01 Sep 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction HNNA Common Stock Purchase $12,581 +1,774 +0.09% $7.09 2,052,923 22 Jun 2023 Direct F1
transaction HNNA Common Stock Purchase $7.1 +1 +0% $7.10 2,052,924 23 Jun 2023 Direct
holding HNNA Common Stock 25,312 22 Jun 2023 By spouse
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

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).

Explanation of Responses:

Id Content
F1 The price in Column 4 is a weighted average price. The prices actually received ranged from $7.05 to $7.10. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares purchased at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.