Hennessy (HNNA) CFO Kathryn Fahy Receives Award; 4,258 Shares Withheld

What Happened

• Kathryn Fahy, SVP and CFO of Hennessy Advisors (HNNA), was granted 12,500 stock units on Sept 18, 2026 (reported on Form 4 filed 2026-09-22). The award is reported as acquired at $0.00 (an equity award/ grant).
• On the same date 4,258 shares were surrendered/ disposed (code F) at an implied value of $10.38 per share to satisfy tax withholding obligations, totalling approximately $44,198.

Key Details

• Transaction date: 2026-09-18; Form 4 filed: 2026-09-22 (timely filing).
• Grant: 12,500 stock units (acquired at $0.00).
• Tax withholding: 4,258 shares disposed at $10.38 each, total ≈ $44,198 (code F).
• Shares owned after the transactions: not specified in the filing.
• Footnote: The 12,500 stock units vest 25% per year beginning September 18, 2027 (i.e., a multi-year vesting schedule).
• No indication of a 10b5-1 plan or late filing in this report.

Context

• This was an equity award (restricted stock units/stock units) rather than an open-market purchase or sale. The withholding (code F) is a routine tax-payment action tied to the grant—not an independent sale indicating sentiment.
• For retail investors, awards with multi-year vesting are retention-focused; the withheld shares simply cover the immediate tax obligation and do not represent a market sell decision.