Hennessy Advisors (HNNA) 10% Owner Neil J. Hennessy Receives Award

What Happened Neil J. Hennessy — a reported 10% owner of Hennessy Advisors Inc. (HNNA) — was granted 19,700 stock units (reported as an award) on 2026-09-18 at $0.00 per share. To cover tax withholding related to the award, 9,520.5 shares were surrendered/disposed at $10.38 per share, totaling approximately $98,823. The award units vest 25% per year beginning September 18, 2027.

Key Details

• Transaction date: 2026-09-18; Form 4 filed: 2026-09-22 (filed within two business days — timely).
• Award: 19,700 stock units granted (code A) at $0.00.
• Tax withholding: 9,520.5 shares surrendered (code F) at $10.38, proceeds ≈ $98,823.
• Post-transaction shares beneficially owned: not specified in the provided filing.
• Footnote: The 19,700 underlying stock units vest 25% per year starting 9/18/2027.
• This was not an open-market sale — shares were used to satisfy tax obligations.

Context This filing reports a standard equity award with shares withheld to cover taxes. Awards like these are common components of insider compensation and do not by themselves indicate a buy or sell opinion about the company. As a 10% owner, Hennessy is a significant shareholder, and these transactions reflect compensation administration and tax withholding rather than a market-directed purchase or sale.