Teresa M. Nilsen - Mar 28, 2025 Form 4 Insider Report for HENNESSY ADVISORS INC (HNNA)

Role: President, COO and Secretary, Director
Signature: /s/ Teresa M. Nilsen
Stock symbol: HNNA
Transactions as of: Mar 28, 2025
Transactions value $: -$41,670
Form type: 4
Date filed: 3/31/2025, 06:11 PM
Previous filing: Mar 27, 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HNNA	Common Stock	Sale	-$41.7K	-4K	-22.96%	$10.42	13.4K	Mar 28, 2025	FBO Children	F1, F2
holding	HNNA	Common Stock						140K	Mar 28, 2025	Direct
holding	HNNA	Common Stock						1.52K	Mar 28, 2025	By Spouse's IRA

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares were held in accounts in the names of two of the reporting person's children, and were sold at the discretion of these children.
F2	The price in Column 4 is a weighted average price. The prices actually ranged from $10.3623 to $10.5000. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.

Content

These shares were held in accounts in the names of two of the reporting person's children, and were sold at the discretion of these children.

The price in Column 4 is a weighted average price. The prices actually ranged from $10.3623 to $10.5000. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.