Panagiotidis Petros Panagiotis 4

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.