Key facts
- This page summarizes GWG Holdings, Inc.'s Form 4 filing for Beneficient (BENF).
- 3 reported transactions and 0 derivative rows are listed below.
- Accepted by SEC: 01 Aug 2023, 17:44.
GWG Holdings, Inc. - 01 Aug 2023 Form 4 Insider Report for Beneficient (BENF)
- Reporting relationship
- 10%+ Owner
- Issuer ticker
- BENF
- Reported as of
- 01 Aug 2023
- Net transaction value
- $0
- SEC form
- 4
- Accepted by SEC
- 01 Aug 2023, 17:44:51 UTC
- Prior SEC filing
- 11 Jul 2023
- Source filing
- View source filing
- Reporting owner signature
- /s/ Jeffrey S. Stein, Chief Executive Officer of GWG Holdings, Inc.
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
GWG Holdings, Inc. filed Form 4 for Beneficient (BENF) on 01 Aug 2023.
Change
- Previous filing in this sequence was filed on 11 Jul 2023.
- Current net transaction value: $0.
Research use
- This tells you what this filing adds before you inspect full transaction and derivative tables.
- You can trace every row back to the original SEC filing document.
Evidence
Filed on Form 4
View source filing
Ownership activity is grounded in SEC Form 4 disclosures.
Reported non-derivative transactions
Shares, units, or other non-derivative securities reported in this filing.
BENF
transaction
Class A Common Stock, $0.001 par value
Other
- Transaction value
- $0
- Shares
- -102,530,680
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 01 Aug 2023
- Ownership
- Direct
- Footnotes
- F1, F2
BENF
transaction
Class A Common Stock, $0.001 par value
Other
- Transaction value
- $0
- Shares
- -67,100,832
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 01 Aug 2023
- Ownership
- By Subsidiary
- Footnotes
- F1, F2, F3
BENF
transaction
Class A Common Stock, $0.001 par value
Other
- Transaction value
- $0
- Shares
- -119,975
- Change %
- -100%
- Price
- $0.000000*
- Shares after
- 0
- Date
- 01 Aug 2023
- Ownership
- By Subsidiary
- Footnotes
- F1, F2, F4
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Section 16 status
GWG Holdings, Inc. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may still apply in specific circumstances.
Explanation of responses 4 footnotes
Footnote F1
On April 20, 2023, GWG Holdings, Inc. (the "Company") and certain of its subsidiaries (together with the Company, the "Debtors") filed a voluntary petition for reorganization under chapter 11 of title 11 of the U.S. Bankruptcy Code in the Bankruptcy Court for the Southern District of Texas (the "Bankruptcy Court"). On June 20, 2023 the Court entered an order (the "Confirmation Order") confirming the Debtors' Further Modified Second Amended Joint Chapter 11 Plan (as subsequently further modified the "Plan"). On August 1, 2023 (the "Effective Date") the conditions to the effectiveness of the Plan were satisfied or waived.
Footnote F2
(Continued from footnote 1) On the Effective Date, pursuant to the terms of the Plan, all shares of Beneficient's Class A Common Stock owned by the Debtors were delivered to a liquidating trust or Mr. Jeffrey Stein, in each case as contemplated by the Plan. The sole purpose of the liquidating trust is to liquidate these assets with a view towards maximizing the value of such assets for the benefit of the beneficiaries of the liquidating trust. The Debtors received no cash proceeds or other property in exchange for the delivered shares.
Footnote F3
Shares were owned directly by GWG Life USA, LLC, which is a wholly owned subsidiary of GWG Holdings, Inc. As such, GWG Holdings, Inc. was an indirect beneficial owner of the reported securities.
Footnote F4
Shares were owned directly by GWG Life, LLC, which is a wholly owned subsidiary of GWG Holdings, Inc. As such, GWG Holdings, Inc. was an indirect beneficial owner of the reported securities.