Noble Romans (NROM) Director Douglas Coape-Arnold Sells 5,556 Shares

What Happened

• Director Douglas Coape-Arnold reported a sale of 5,556 shares of Noble Romans, Inc. (ticker: NROM) on August 27, 2026. The transaction was reported at $0.68 per share, for a total value of approximately $3,795. The Form 4 reflecting this transaction was filed on September 3, 2026. Transaction code S indicates a sale.

Key Details

• Transaction date and price: 2026-08-27 — 5,556 shares at $0.68 each.
• Report filed: 2026-09-03 (Accession: 0001403620-26-000001).
• Shares owned after transaction: Not specified in the provided filing details.
• Footnotes/plan: No 10b5-1 plan, tax-withholding, or other footnotes were provided in the supplied data.
• Timeliness: The trade occurred Aug 27 and the Form 4 was filed Sep 3. Form 4s are generally due within two business days of the transaction, so this filing appears to have been submitted later than the typical reporting window.

Context

• This was a small-value open-market sale (~$3.8K). Sales by insiders can be routine (diversification, personal liquidity, tax reasons) and do not necessarily indicate a change in confidence in the company. For retail investors, purchases often carry more weight as signals; this single, modest sale should be viewed in that light.