Fahy Kathryn 4

What Happened
Kathryn Fahy, Senior Vice President and Chief Financial Officer of Hennessy Advisors (HNNA), sold 10,000 shares in an open-market transaction on May 11, 2026. The shares were sold at $10.00 per share for a total proceeds of $100,000. This was a sale (not a purchase), which is often routine insider selling and does not necessarily indicate a change in company outlook.

Key Details

• Transaction date: 2026-05-11
• Transaction type: Open-market sale (Code S)
• Shares sold: 10,000 at $10.00 each; total value $100,000
• Shares owned after transaction: Not specified in the provided filing
• Footnotes / plans: No 10b5-1 plan, tax-withholding, or other footnotes disclosed in the information provided
• Filing timeliness: Report filed on 2026-05-12 (one day after the trade); this appears to be timely under Form 4 reporting rules

Context
Open-market sales by executives can be for many personal reasons (diversification, taxes, liquidity) and are common; they are not direct indicators of company performance. For retail investors, purchases generally carry more signal value than routine sales. This transaction is a straightforward disposition of shares rather than an option exercise, gift, or award.