KELLOGG PETER R 4

What Happened
Peter R. Kellogg, a reported 10% owner of Mercer International, made three open-market purchases totaling 300,000 shares between May 12 and May 14, 2026. The trades were: 43,000 shares at $0.84 ($36,172) and 57,000 shares at $0.88 ($50,006) on May 12, and 200,000 shares at $0.88 ($176,220) on May 14 — aggregate cost $262,398. These were purchases (code P on the Form 4).

Key Details

• Transaction dates and prices:
  • 2026-05-12: 43,000 @ $0.84 = $36,172 (open-market)
  • 2026-05-12: 57,000 @ $0.88 = $50,006 (open-market)
  • 2026-05-14: 200,000 @ $0.88 = $176,220 (open-market)
• Total shares acquired: 300,000; total reported value: $262,398.
• Filing: Form 4 filed May 15, 2026, reporting the May 12–14 transactions.
• Shares owned after transaction: Not specified in the summary data provided (check full Form 4 for post-transaction holdings).
• Footnotes/plan info: None noted here (no 10b5-1 plan, tax withholding, or award codes provided).

Context
Kellogg is listed as a 10% owner, which classifies these trades as large-holder activity rather than executive compensation or routine insider selling. Purchases can be interpreted as a stronger signal than sales, but filings are factual disclosures only and do not state motivation. For complete details (post-transaction holdings, footnotes, or timeliness flags), consult the full SEC Form 4 (Accession 0001104659-26-062855).