Key facts
- This page summarizes Navid Abghari's Form 4 filing for Angel Oak Financial Strategies Income Term Trust (FINS).
- 2 reported transactions and 1 derivative row are listed below.
- Accepted by SEC: 22 Oct 2021, 12:47.
Navid Abghari - 19 Oct 2021 Form 4 Insider Report for Angel Oak Financial Strategies Income Term Trust (FINS)
- Reporting relationship
- Portfolio Manager
- Issuer ticker
- FINS
- Reported as of
- 19 Oct 2021
- Net transaction value
- +$12,286
- SEC form
- 4
- Accepted by SEC
- 22 Oct 2021, 12:47:53 UTC
- Prior SEC filing
- 18 Oct 2021
- Source filing
- View source filing
- Reporting owner signature
- Adam Langley
Source evidence
Original filing metadata and source links for verification.
4 source fields
Reporting owner
1 detail
Key filing fact
Navid Abghari filed Form 4 for Angel Oak Financial Strategies Income Term Trust (FINS) on 22 Oct 2021.
Change
- Previous filing in this sequence was filed on 18 Oct 2021.
- Current net transaction value: +$12,286.
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.
FINS
transaction
Common Stock
Exercise of in-the-money or at-the-money derivative security
- Transaction value
- $12,286
- Shares
- +765
- Change %
- +23%
- Price
- $16.06
- Shares after
- 4,024
- Date
- 19 Oct 2021
- Ownership
- Direct
- Footnotes
- F1, F2, F3, F4
Reported derivative securities
Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.
FINS
transaction
Derivative
Oversubscription Privilege (Contingent Right to Buy)
Exercise of in-the-money or at-the-money derivative security
- Transaction value
- Shares
- -2,295
- Change %
- -100%
- Price
- Shares after
- 0
- Date
- 19 Oct 2021
- Ownership
- Direct
- Underlying class
- Common Stock
- Underlying amount
- 765
- Exercise price
- Footnotes
- F1, F2, F3, F4
* marks a reported price that did not pass the local price check.
Additional SEC filing notes
Filing notes and footnotes
Explanation of responses 4 footnotes
Footnote F1
Angel Oak Financial Strategies Income Term Trust (NYSE: FINS) (the "Fund") issued transferrable rights ("Rights") to the holders of the Fund's common shares ("Common Shareholders") of beneficial interest ("Common Shares") as of September 20, 2021 (the "Record Date"). The Fund distributed to Common Shareholders of record as of the Record Date ("Record Date Shareholders") one Right for each Common Share held on the Record Date. Record Date Shareholders were entitled to purchase one new Common Share for every three Rights held (1 for 3). The subscription period commenced on the Record Date and expired on October 14, 2021 (the "Expiration Date").
Footnote F2
Record Date Shareholders who exercised all of their primary subscription Rights were eligible for an over-subscription privilege entitling Record Date Shareholders to subscribe for additional Common Shares not purchased pursuant to the primary subscription by other Record Date Shareholders. The Offer was over-subscribed. The over-subscription requests exceeded the over-subscription shares available. Accordingly, the shares subscribed for pursuant to the over-subscription privilege of the Offer were allocated pro rata among those fully exercising Record Date Shareholders who over-subscribed based on the number of Rights originally issued to them by the Fund.
Footnote F3
On October 14, 2021 (the "Expiration Date"), the Reporting Person fully exercised their Rights to purchase 815 Common Shares (previously reported on a Form 4 filed on October 18, 2021). On October 19, 2021, the third-party Subscription Agent for the Offering determined the allocations to be made to Record Date Shareholders who exercised their oversubscription privilege. The Reporting Person purchased an additional 765 Common Shares pursuant to the oversubscription privileges based on the Subscription Agent's oversubscription allocation.
Footnote F4
The final subscription price of $16.06 per Common Share was determined based upon the terms of the Offer.