HNNA Director Brian A. Hennessy Receives 5,600-Share Award

What Happened
Brian A. Hennessy, a director of Hennessy Advisors Inc. (HNNA), was granted 5,600 stock units on 2026-09-18. The units were reported at $0.00 per share (total reported value $0) because this is an award of underlying stock units rather than an open-market purchase. These units will vest over time (see vesting note below).

Key Details

• Transaction date: 2026-09-18; filing date: 2026-09-22 (filed within the Form 4 two-business-day window).
• Securities acquired: 5,600 underlying stock units (Award/Grant, code A) at $0.00; reported total $0.
• Vesting: Footnote F1 — the 5,600 stock units vest 25% per year beginning September 18, 2027.
• Other holdings note: Footnote F2 — 974.9340 shares were acquired through automatic dividend reinvestments (included in reported holdings).
• Shares owned after transaction: Not specified in the provided filing excerpt.

Context
This was an equity award to a director (common for board compensation), not a purchase or sale. The award does not deliver shares or cash immediately; value and ownership change as units vest. Dividend reinvestment shares noted in F2 reflect prior accumulation through the company’s dividend reinvestment program and are separate from the new award.