Panagiotidis Petros Panagiotis 4
4 · TORO CORP. · Filed Apr 24, 2026
Research Summary
AI-generated summary of this filing
TORO CEO Petros Panagiotidis Buys Stock
What Happened
Petros Panagiotidis, CEO of Toro Corp. (TORO), made multiple open-market purchases of common stock from April 22–24, 2026, acquiring a total of 2,315,971 shares for approximately $14.25 million. The trades were reported as purchases (code P) in four tranches: 516,738 shares at a weighted-average $5.04 ($2.61M), 1,465,990 shares at a weighted-average $6.45 ($9.46M), 265,836 shares at a weighted-average $6.52 ($1.73M), and 67,407 shares at a weighted-average $6.79 ($0.46M). These are outright purchases (a bullish signal relative to sales), not option exercises or awards.
Key Details
- Transaction dates: April 22, 2026 (two tranches), April 23, 2026, and April 24, 2026.
- Per-tranche reported weighted-average prices and ranges (multiple open-market trades):
- 516,738 @ $5.04 (prices ranged $4.725–$5.60) — F1
- 1,465,990 @ $6.45 (multiple trades; weighted avg reported) — F3
- 265,836 @ $6.52 (prices ranged $6.175–$6.65) — F4
- 67,407 @ $6.79 (prices ranged $6.45–$6.85) — F5 (Footnotes state the reporting person can provide exact per-trade breakdown on request.)
- Total acquired: 2,315,971 shares for about $14.25 million.
- Shares owned after transaction: the filing does not state a total; footnote F2 says shares are held indirectly through Pani Corp., an entity controlled by the CEO, and he disclaims beneficial ownership except to the extent of any pecuniary interest.
- Filing timeliness: filed April 24, 2026 reporting transactions through April 22–24; no indication in the provided data that the Form 4 was late.
Context
These were open-market purchases (purchase code P), not option exercises or gifts. Multiple purchases reported with weighted-average prices and disclosed price ranges — standard for block buys executed across several trades. The beneficial-ownership footnote (F2) indicates ownership is held indirectly via Pani Corp.; that’s an ownership structure detail, not a change in transaction type. As always, insider purchases are factual data points and do not by themselves explain the insider’s motivation.
Insider Transaction Report
- Purchase
Common Stock
[F1][F2]2026-04-22$5.04/sh+516,738$2,606,065→ 19,022,973 total(indirect: By Pani Corp.) - Purchase
Common Stock
[F3][F2]2026-04-22$6.45/sh+1,465,990$9,456,515→ 20,488,963 total(indirect: By Pani Corp.) - Purchase
Common Stock
[F4][F2]2026-04-23$6.52/sh+265,836$1,734,474→ 20,754,799 total(indirect: By Pani Corp.) - Purchase
Common Stock
[F5][F2]2026-04-24$6.79/sh+67,407$457,592→ 20,822,206 total(indirect: By Pani Corp.)
Footnotes (5)
- [F1]This transaction represents purchases executed in multiple open market purchases. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.725 to $5.60 per share, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- [F2]Shares reported as beneficially owned consist of common shares held indirectly through Pani Corp. ("Pani"), an entity controlled by the Reporting Person. The Reporting Person may be deemed to beneficially own the securities held by Pani by virtue of his control of such entity. The Reporting Person disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that the Reporting Person is a beneficial owner for purposes of Section 16 of the Exchange Act or otherwise.
- [F3]This transaction represents purchases executed in multiple open market purchases. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.81 to $6.75 per share, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- [F4]This transaction represents purchases executed in multiple open market purchases. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.175 to $6.65 per share, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.
- [F5]This transaction represents purchases executed in multiple open market purchases. The reported price is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.45 to $6.85 per share, inclusive. The Reporting Person undertakes to provide to the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon written request, full information regarding the number of shares purchased at each separate price within the range set forth in this footnote.