Riverview Bancorp (RSVB) 10% Owner NIMCO Sells 15,000 Shares

What Happened
Nierenberg Investment Management Company, LLC (NIMCO), reported as a 10% owner, sold a total of 15,000 shares of Riverview Bancorp, Inc. (RSVB) in three open-market transactions. The sales were: 5,000 shares on 2026-07-22 at $5.25 ($26,250), 5,000 shares on 2026-07-23 at $5.27 ($26,350), and 5,000 shares on 2026-07-24 at $5.29 ($26,450), for aggregate proceeds of approximately $79,050. These were sales (not purchases), which are often routine portfolio transactions rather than a bullish signal.

Key Details

• Transaction dates and prices:
  • 2026-07-22: Sold 5,000 shares @ $5.25 = $26,250
  • 2026-07-23: Sold 5,000 shares @ $5.27 = $26,350
  • 2026-07-24: Sold 5,000 shares @ $5.29 = $26,450
• Total shares sold: 15,000; total proceeds: ~$79,050.
• Shares owned after transaction: not specified in the data provided.
• Reporting code: S = Sale.
• Footnotes:
  • F1: NIMCO is sole general partner of The D3 Family Fund, LP and The D3 Family Bulldog Fund, LP, and sole investment manager of Haredale Ltd.; by these relationships the reporting persons may be deemed to beneficially own the funds’ securities.
  • F2: The reporting persons disclaim beneficial ownership except to the extent of any pecuniary interest.
• Timeliness: Filing dated 2026-07-24 covering trades on 7/22–7/24; this appears to be within the normal Form 4 reporting window (not flagged as late).

Context
These trades were executed by a 10% institutional owner/manager of funds, not a company executive. Sales by funds or large-shareholders can reflect portfolio rebalancing or liquidity needs and do not necessarily indicate a change in company fundamentals. For retail investors, purchases tend to be more informative about insider sentiment than routine sales.