Onorio Kenneth P. 4
Research Summary
AI-generated summary
Eagle Point Credit (ECC) CFO Kenneth Onorio Buys 110,000 Shares
What Happened
- Kenneth P. Onorio, CFO and COO of Eagle Point Credit Co. Inc. (ECC), acquired 110,000 shares on March 13, 2026 in an open-market/private purchase (transaction code P). The reported weighted-average price was $3.74 per share for a total reported cost of $411,400. This filing reports a purchase (insider buy), which many investors view as a positive signal, though motivations are not stated.
Key Details
- Transaction date: 2026-03-13
- Transaction type: Purchase (Open market/private purchase) — Code P
- Shares acquired: 110,000 at a weighted average price of $3.74 (total ~$411,400)
- Price range: purchases occurred at prices from $3.72 to $3.75 (weighted avg reported) — reporting person will provide per-price breakdown to SEC on request
- Shares owned after transaction: Not specified in the filing
- Timeliness: Filed with the SEC on 2026-03-13 (same date as transaction) — appears timely
- Notable footnotes:
- F1: Shares are held in accounts for the benefit of Onorio’s children; he has investment authority but disclaims beneficial ownership except for any pecuniary interest.
- F2: Includes shares acquired through the issuer’s dividend reinvestment plan.
- F3: The $3.74 is a weighted average; purchases were made in multiple trades between $3.72 and $3.75.
Context
- This was a straight purchase rather than an option exercise or gift. Purchases by officers can be interpreted as a vote of confidence, but they do not guarantee future performance. The filing discloses that some shares are held in accounts for his children and that part of the holding history may include shares from the company’s dividend reinvestment plan.