PERNICE THOMAS J 4
4 · Trio Petroleum Corp · Filed Jun 12, 2026
Research Summary
AI-generated summary of this filing
Trio Petroleum (TPET) Director Thomas J. Pernice Sells 25,000 Shares
What Happened Thomas J. Pernice, a director of Trio Petroleum Corp. (TPET), reported a sale of 25,000 shares on 2026-06-11. The Form 4 lists the sale price as N/A in the transaction table, but a footnote states the shares were sold at an average price of $0.3619, implying proceeds of approximately $9,048. This was a sale (routine/neutral signal) to satisfy tax obligations tied to previously issued restricted stock.
Key Details
- Transaction date: 2026-06-11 (reported on Form 4 filed 2026-06-12)
- Transaction type/code: Sale (S); listed price N/A in table, footnote average price $0.3619
- Shares sold: 25,000; estimated gross proceeds ≈ $9,048
- Shares owned after transaction: Not disclosed in the provided data (noted in filing)
- Footnotes: F1 — sale to cover taxes related to restricted stock issued in 2025; F2 — average price used ($0.3619); full price breakdown available to the SEC on request
- Timeliness: Filing appears timely (transaction 6/11, Form 4 filed 6/12)
Context Sales to cover tax withholding on restricted stock grants are common and do not necessarily indicate a change in an insider’s view of the company. For retail investors, purchases are generally more informative about insider confidence; this transaction appears to be administrative (tax-related) rather than an investment decision.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-06-11−25,000→ 100,000 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 $0.3619. The full breakdown of the prices for all shares sold will be provided at the request of the SEC.