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STOCK TITAN

[8-K] Unitil Corporation Reports Material Event

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K
Rhea-AI Filing Summary

Form 4 highlights for zSpace, Inc. (ZSPC): Chief Executive Officer and Director Paul Kellenberger reported two open-market sales of the company’s common stock.

  • Dates & Volume: 1,383 shares sold on 07/10/2025 and 1,384 shares sold on 07/11/2025, totaling 2,767 shares.
  • Sale Prices: Weighted-average prices were $2.833 and $2.758, respectively; individual trades ranged from $2.720�$2.950.
  • Purpose: Proceeds were used to cover tax obligations arising from a prior restricted-stock-unit (RSU) vesting (per footnote).
  • Post-transaction ownership: Kellenberger retains 25,403 shares held directly.

No derivative security transactions were reported, and the filing was made as an individual report.

Punti salienti del Modulo 4 per zSpace, Inc. (ZSPC): Il Chief Executive Officer e Direttore Paul Kellenberger ha comunicato due vendite sul mercato aperto di azioni ordinarie della società.

  • Date e volume: 1.383 azioni vendute il 10/07/2025 e 1.384 azioni vendute l'11/07/2025, per un totale di 2.767 azioni.
  • Prezzi di vendita: I prezzi medi ponderati sono stati rispettivamente di $2,833 e $2,758; le singole operazioni sono variate da $2,720 a $2,950.
  • 󾱲Բà: I proventi sono stati utilizzati per coprire obblighi fiscali derivanti da un precedente maturazione di azioni vincolate (RSU), come indicato nella nota a piè di pagina.
  • Possesso dopo la transazione: Kellenberger detiene ancora direttamente 25.403 azioni.

Non sono state segnalate transazioni su strumenti derivati e la comunicazione è stata effettuata come rapporto individuale.

Aspectos destacados del Formulario 4 para zSpace, Inc. (ZSPC): El Director Ejecutivo y Director Paul Kellenberger reportó dos ventas en el mercado abierto de acciones ordinarias de la compañía.

  • Fechas y volumen: 1,383 acciones vendidas el 10/07/2025 y 1,384 acciones vendidas el 11/07/2025, totalizando 2,767 acciones.
  • Precios de venta: Los precios promedio ponderados fueron $2.833 y $2.758, respectivamente; las operaciones individuales oscilaron entre $2.720 y $2.950.
  • ʰDZóٴ: Los ingresos se usaron para cubrir obligaciones fiscales derivadas de una adjudicación previa de unidades de acciones restringidas (RSU), según la nota al pie.
  • Propiedad posterior a la transacción: Kellenberger mantiene 25,403 acciones en propiedad directa.

No se reportaron transacciones con valores derivados y la presentación se realizó como un informe individual.

zSpace, Inc. (ZSPC) Form 4 주요 내용: 최고경영� � 이사� Paul Kellenberger가 회사 보통주에 대� � 건의 공개 시장 매도 거래� 보고했습니다.

  • 날짜 � 거래�: 2025� 7� 10일에 1,383�, 7� 11일에 1,384주를 매도하여 � 2,767�� 판매했습니다.
  • 매도갶�: 가중평� 가격은 각각 $2.833$2.758였으며, 개별 거래 가격은 $2.720에서 $2.950 사이였습니�.
  • 목적: 수익금은 이전� 부여된 제한주식단위(RSU) 베스팅에 따른 세금 납부� 위해 사용되었습니�(각주 참고).
  • 거래 � 소유�: Kellenberger� 직접 보유� 25,403�� 계속 보유하고 있습니다.

파생상품 거래� 보고되지 않았으며, � 보고� 개인 보고서로 제출되었습니�.

Points clés du formulaire 4 pour zSpace, Inc. (ZSPC) : Le Directeur Général et Administrateur Paul Kellenberger a déclaré deux ventes d’actions ordinaires de la société sur le marché ouvert.

  • Dates et volume : 1 383 actions vendues le 10/07/2025 et 1 384 actions vendues le 11/07/2025, soit un total de 2 767 actions.
  • Prix de vente : Les prix moyens pondérés étaient respectivement de 2,833 $ et 2,758 $ ; les transactions individuelles variaient entre 2,720 $ et 2,950 $.
  • Objectif : Les recettes ont été utilisées pour couvrir des obligations fiscales liées à une attribution antérieure d’unités d’actions restreintes (RSU), selon la note de bas de page.
  • Possession après la transaction : Kellenberger détient directement 25 403 actions.

Aucune transaction sur titres dérivés n’a été signalée, et le dépôt a été effectué en tant que rapport individuel.

Formular 4 Highlights für zSpace, Inc. (ZSPC): Geschäftsführer und Direktor Paul Kellenberger meldete zwei Verkäufe von Stammaktien des Unternehmens am offenen Markt.

  • Daten & Volumen: 1.383 Aktien wurden am 10.07.2025 verkauft und 1.384 Aktien am 11.07.2025, insgesamt 2.767 Aktien.
  • Verkaufspreise: Die gewichteten Durchschnittspreise lagen bei $2,833 bzw. $2,758; einzelne Transaktionen bewegten sich zwischen $2,720 und $2,950.
  • Zweck: Die Erlöse wurden verwendet, um Steuerverpflichtungen aus einer vorherigen Vesting-Periode von Restricted Stock Units (RSU) zu begleichen (siehe Fußnote).
  • Besitz nach der Transaktion: Kellenberger hält weiterhin 25.403 Aktien direkt.

Es wurden keine Derivatgeschäfte gemeldet, und die Meldung erfolgte als Einzelmeldung.

Positive
  • None.
Negative
  • Insider sale by CEO, albeit small, can be perceived cautiously by some investors despite stated tax-related purpose.

Insights

TL;DR: Minor CEO sale (~$7.7k) to cover taxes—immaterial signal.

The transaction involves only 2,767 shares, worth roughly $7,700 at the reported weighted-average prices. Footnotes clarify the sale was solely to satisfy tax liabilities from a previously disclosed RSU vesting, limiting concern about discretionary divestment. Post-sale holdings remain above 25k shares, indicating continued alignment with shareholders. From a market-impact standpoint, the volume is negligible relative to typical trading liquidity and does not represent a meaningful shift in insider sentiment.

Punti salienti del Modulo 4 per zSpace, Inc. (ZSPC): Il Chief Executive Officer e Direttore Paul Kellenberger ha comunicato due vendite sul mercato aperto di azioni ordinarie della società.

  • Date e volume: 1.383 azioni vendute il 10/07/2025 e 1.384 azioni vendute l'11/07/2025, per un totale di 2.767 azioni.
  • Prezzi di vendita: I prezzi medi ponderati sono stati rispettivamente di $2,833 e $2,758; le singole operazioni sono variate da $2,720 a $2,950.
  • 󾱲Բà: I proventi sono stati utilizzati per coprire obblighi fiscali derivanti da un precedente maturazione di azioni vincolate (RSU), come indicato nella nota a piè di pagina.
  • Possesso dopo la transazione: Kellenberger detiene ancora direttamente 25.403 azioni.

Non sono state segnalate transazioni su strumenti derivati e la comunicazione è stata effettuata come rapporto individuale.

Aspectos destacados del Formulario 4 para zSpace, Inc. (ZSPC): El Director Ejecutivo y Director Paul Kellenberger reportó dos ventas en el mercado abierto de acciones ordinarias de la compañía.

  • Fechas y volumen: 1,383 acciones vendidas el 10/07/2025 y 1,384 acciones vendidas el 11/07/2025, totalizando 2,767 acciones.
  • Precios de venta: Los precios promedio ponderados fueron $2.833 y $2.758, respectivamente; las operaciones individuales oscilaron entre $2.720 y $2.950.
  • ʰDZóٴ: Los ingresos se usaron para cubrir obligaciones fiscales derivadas de una adjudicación previa de unidades de acciones restringidas (RSU), según la nota al pie.
  • Propiedad posterior a la transacción: Kellenberger mantiene 25,403 acciones en propiedad directa.

No se reportaron transacciones con valores derivados y la presentación se realizó como un informe individual.

zSpace, Inc. (ZSPC) Form 4 주요 내용: 최고경영� � 이사� Paul Kellenberger가 회사 보통주에 대� � 건의 공개 시장 매도 거래� 보고했습니다.

  • 날짜 � 거래�: 2025� 7� 10일에 1,383�, 7� 11일에 1,384주를 매도하여 � 2,767�� 판매했습니다.
  • 매도갶�: 가중평� 가격은 각각 $2.833$2.758였으며, 개별 거래 가격은 $2.720에서 $2.950 사이였습니�.
  • 목적: 수익금은 이전� 부여된 제한주식단위(RSU) 베스팅에 따른 세금 납부� 위해 사용되었습니�(각주 참고).
  • 거래 � 소유�: Kellenberger� 직접 보유� 25,403�� 계속 보유하고 있습니다.

파생상품 거래� 보고되지 않았으며, � 보고� 개인 보고서로 제출되었습니�.

Points clés du formulaire 4 pour zSpace, Inc. (ZSPC) : Le Directeur Général et Administrateur Paul Kellenberger a déclaré deux ventes d’actions ordinaires de la société sur le marché ouvert.

  • Dates et volume : 1 383 actions vendues le 10/07/2025 et 1 384 actions vendues le 11/07/2025, soit un total de 2 767 actions.
  • Prix de vente : Les prix moyens pondérés étaient respectivement de 2,833 $ et 2,758 $ ; les transactions individuelles variaient entre 2,720 $ et 2,950 $.
  • Objectif : Les recettes ont été utilisées pour couvrir des obligations fiscales liées à une attribution antérieure d’unités d’actions restreintes (RSU), selon la note de bas de page.
  • Possession après la transaction : Kellenberger détient directement 25 403 actions.

Aucune transaction sur titres dérivés n’a été signalée, et le dépôt a été effectué en tant que rapport individuel.

Formular 4 Highlights für zSpace, Inc. (ZSPC): Geschäftsführer und Direktor Paul Kellenberger meldete zwei Verkäufe von Stammaktien des Unternehmens am offenen Markt.

  • Daten & Volumen: 1.383 Aktien wurden am 10.07.2025 verkauft und 1.384 Aktien am 11.07.2025, insgesamt 2.767 Aktien.
  • Verkaufspreise: Die gewichteten Durchschnittspreise lagen bei $2,833 bzw. $2,758; einzelne Transaktionen bewegten sich zwischen $2,720 und $2,950.
  • Zweck: Die Erlöse wurden verwendet, um Steuerverpflichtungen aus einer vorherigen Vesting-Periode von Restricted Stock Units (RSU) zu begleichen (siehe Fußnote).
  • Besitz nach der Transaktion: Kellenberger hält weiterhin 25.403 Aktien direkt.

Es wurden keine Derivatgeschäfte gemeldet, und die Meldung erfolgte als Einzelmeldung.

UNITIL CORP false 0000755001 0000755001 2025-07-08 2025-07-08
 
 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 8, 2025

 

 

UNITIL CORPORATION

(Exact name of registrant as specified in its charter)

 

 

 

New Hampshire   1-8858   02-0381573

(State or other jurisdiction

of incorporation)

 

(Commission

File Number)

 

(IRS Employer

Identification No.)

 

6 Liberty Lane West, Hampton, New Hampshire   03842-1720
(Address of principal executive offices)   (Zip Code)

Registrant’s telephone number, including area code: (603) 772-0775

N/A

(Former name or former address, if changed since last report)

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class

 

Trading

Symbol

 

Name of each exchange

on which registered

Common Stock, no par value   UTL   New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 
 


Item 1.01 Entry into a Material Definitive Agreement

On July 8, 2025, Bangor Natural Gas Company (“Bangor”), a natural gas distribution utility subsidiary of Unitil Corporation (the “Company” or the “Registrant”), entered into a Note Purchase Agreement with CoBank, ACB and United of Omaha Life Insurance Company (the “Note Purchase Agreement”) pursuant to which it issued and sold (i) $14,000,000 of 5.70% Senior Unsecured Notes, Series 2025A, due July 8, 2030 and (ii) $18,000,000 of 6.31% Senior Unsecured Notes, Series 2025B, due July 8, 2035 (collectively, the “Notes”).

The Note Purchase Agreement and the Notes collectively contain customary representations and warranties, covenants and events of default for a transaction of this type. The Notes may or will become immediately due and payable upon an event of default, as described in the Note Purchase Agreement.

The foregoing summary of the Note Purchase Agreement and the Notes does not purport to be complete and is subject to, and qualified in its entirety by, the full text of such documents, the executed copies or forms of which are attached hereto as exhibits to this Current Report on Form 8-K.

Certain of the purchasers of the Notes (or their affiliates) are holders of other indebtedness of the Company or its subsidiaries.

Bangor plans to use the net proceeds from this long-term financing to refinance existing debt of the Company (on a consolidated basis) and for general corporate purposes.

Bangor offered the Notes principally to institutional investors in an offering made pursuant to the exemption from registration requirements under Section 4(a)(2) of the Securities Act of 1933, as amended (“Act”).

The Notes have not been and will not be registered under the Act, or any state securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Act and applicable state securities laws.

The Company intends this notice to comply with Rule 135c of the Act and, accordingly, this notice does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

The Note Purchase Agreement and the Notes have been attached as exhibits to this Current Report on Form 8-K to provide investors with information regarding their terms. The representations, warranties and covenants contained in such documents were made only for purposes of such documents and as of specific dates, were solely for the benefit of the parties to such documents, and are subject to limitations agreed upon by the parties to such documents. Moreover, the representations and warranties contained in such documents were made for the purpose of allocating contractual risk between the parties to such documents instead of establishing matters as facts, and may be subject to standards of materiality applicable to the parties to such documents that differ from those applicable to investors generally. Investors (other than the parties to such documents) are not third-party beneficiaries under such documents and should not rely on the representations, warranties and covenants contained therein or any descriptions thereof as characterizations of the actual state of facts or condition of the Company or any of its subsidiaries or affiliates.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The disclosure in Item 1.01 is incorporated by reference into this Item 2.03.


Item 9.01 Financial Statements and Exhibits

(d) Exhibits

 

Number

 

Exhibit

  

Reference (1)

4.1 (2)(3)   Note Purchase Agreement dated July 8, 2025 by and among Bangor Natural Gas Company and the several purchasers named therein.    Filed herewith
4.2   5.70% Senior Note, Series 2025A, due July 8, 2030, issued by Bangor Natural Gas Company to CoBank, ACB.    Filed herewith
4.3   6.31% Senior Note, Series 2025B, due July 8, 2035, issued by Bangor Natural Gas Company to United of Omaha Life Insurance Company.    Filed herewith
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)    Filed herewith
 
(1)

The exhibits referred to in this column by specific designations and dates have heretofore been filed with or furnished to the Securities and Exchange Commission under such designations and are hereby incorporated by reference.

(2)

In accordance with Item 601(a)(5) of Regulation S-K, this exhibit omits certain of its schedules and exhibits. This exhibit’s table of contents includes a brief description of the subject matter of all of its schedules and exhibits, including the omitted schedules and exhibits. The Registrant acknowledges that it must provide a copy of any omitted schedules or exhibits to the Securities and Exchange Commission or its staff upon request.

(3)

Certain information has been excluded from this exhibit pursuant to Item 601(b)(2)(ii) of Regulation S-K.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

UNITIL CORPORATION
By:  
 

/s/ Daniel J. Hurstak

  Daniel J. Hurstak
  Senior Vice President, Chief Financial Officer and Treasurer
Date:   July 14, 2025

FAQ

How many zSpace (ZSPC) shares did the CEO sell on 07/10/2025?

He sold 1,383 shares at a weighted-average price of $2.833.

What was the total number of ZSPC shares sold by the CEO in July 2025?

Across two days, he sold 2,767 shares of common stock.

Why did Paul Kellenberger sell ZSPC stock?

Footnotes state the sale covered tax obligations from a prior RSU vesting.

How many ZSPC shares does the CEO still own after the sale?

He directly owns 25,403 shares following the reported transactions.

Were any derivative securities involved in this Form 4?

No, the filing lists no derivative security transactions.
Unitil Corp

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