HOREJSI STEWART R 4
4 · DENALI FUND INC. · Filed May 3, 2012
Insider Transaction Report
Form 4
SUSAN L CICIORA TRUST
10% Owner
Transactions
- Purchase
Common Stock
2012-05-01$14.82/sh+100$1,482→ 1,156,579 total
Footnotes (2)
- [F1]The trustee of the Susan L. Ciciora Trust (the "Susan Trust") is Alaska Trust Company ("Alaska Trust"). Such trustee may be deemed to control the Susan Trust and may be deemed to possess indirect beneficial ownership of the Shares held by the Susan Trust. However, Alaska Trust does not vote or exercise dispositive authority over Shares held by the Susan Trust. Accordingly, Alaska Trust disclaims beneficial ownership of the Shares beneficially owned, directly or indirectly, by the Susan Trust. As a result of his advisory role with the Susan Trust, Stewart R. Horejsi may be deemed to have indirect beneficial ownership of the Shares directly beneficially owned by the Susan Trust. However, Mr. Horejsi disclaims such beneficial ownership of the Shares directly beneficially held by the Susan Trust.
- [F2]Trusts affiliated with the Susan Trust, including the Lola Brown Trust No. 1B, the Mildred B. Horejsi Trust, and the Evergreen Trust, own an aggregate of 3,193,282 Shares of the Fund following these transactions.