PERNICE THOMAS J 4
4 · Trio Petroleum Corp · Filed May 8, 2026
Research Summary
AI-generated summary of this filing
Trio Petroleum (TPET) Director Thomas J. Pernice Sells Shares
What Happened
Thomas J. Pernice, a director of Trio Petroleum Corp (TPET), reported a sale (Disposition) of 25,000 shares on 2026-05-07. The Form 4 lists the transaction price as N/A, but a footnote (F2) states the shares were sold at an average of $0.4615, implying gross proceeds of about $11,538. Footnote F1 says the sale was to cover taxes related to restricted stock issued to Mr. Pernice in 2025.
Key Details
- Transaction date: 2026-05-07; Form 4 filed: 2026-05-08 (timely filing).
- Reported sale: 25,000 shares; price in table: N/A. Footnote F2: average price $0.4615; full price breakdown available to the SEC upon request.
- Purpose (footnote F1): sale to cover tax withholding for 2025 restricted stock issuance.
- Shares owned after the transaction: not stated in the information provided in this summary.
- Transaction code: S (Sale). No indication this was part of a 10b5-1 plan in the provided filing.
Context
Sales to cover tax obligations on restricted stock awards are common administrative transactions and do not necessarily reflect the insider’s view of the company. The amount here (~$11.5K) is relatively small compared with many insider trades. If you want the exact per-share sale prices for each lot, the filing notes the company can provide the full breakdown to the SEC on request.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-05-07−25,000→ 125,000 total
Footnotes (2)
- [F1]The purpose of the sale is to cover taxes with respect to the issuance of restricted stock to Mr. Pernice in 2025.
- [F2]Based upon shares sold at an average of $0.4615. The full breakdown of the prices for all shares sold will be provided at the request of the SEC.