[Form 4] abrdn Japan Equity Fund, Inc. Insider Trading Activity
Clark Anthony S., a director of abrdn Japan Equity Fund, Inc. (JEQ), reported a sale of common stock on 09/03/2025 executed as a disposition in connection with the fund's tender offer. The filing shows 636 shares were tendered and disposed at a price of $8.04 per share based on a preliminary proration factor, leaving the reporting person with 364 shares beneficially owned after the transaction. The form notes the proration factor is preliminary (reported as 63.63%) and says an amended Form 4 will be filed if the final proration changes the number of shares disposed.
Clark Anthony S., direttore di abrdn Japan Equity Fund, Inc. (JEQ), ha segnalato la vendita di azioni ordinarie il 03/09/2025, eseguita come cessione nell'ambito dell'offerta di acquisto del fondo. La comunicazione indica che sono state offerte e cedute 636 azioni a $8,04 ciascuna, in base a un fattore di prorata preliminare, lasciando il dichiarante con 364 azioni detenute dopo la transazione. Il modulo precisa che il fattore di prorata 猫 preliminare (segnalato come 63,63%) e che verr脿 presentato un Form 4 emendato se il fattore definitivo modifica il numero di azioni cedute.
Clark Anthony S., director de abrdn Japan Equity Fund, Inc. (JEQ), inform贸 la venta de acciones ordinarias el 03/09/2025, realizada como una disposici贸n vinculada a la oferta p煤blica de adquisici贸n del fondo. El informe indica que se ofrecieron y dispusieron 636 acciones a $8,04 por acci贸n, seg煤n un factor de prorrateo preliminar, dejando al declarante con 364 acciones en propiedad despu茅s de la operaci贸n. El formulario aclara que el factor de prorrateo es preliminar (reportado como 63,63%) y que se presentar谩 un Form 4 enmendado si el prorrateo definitivo cambia el n煤mero de acciones dispuestas.
Clark Anthony S., abrdn Japan Equity Fund, Inc. (JEQ)鞚� 鞚挫偓电� 2025-09-03鞐� 氤错喌欤� 毵り皝鞚� 氤搓碃頄堨溂氅�, 鞚吹鐢 韼�霌滌潣 瓿店皽毵れ垬(韰岇澊雿� 鞓ろ嵓)鞕� 甏�霠悳 觳橂秳鞙茧 歆戫枆霅橃棃鞀惦媹雼�. 鞝滌稖靹滌棎电� 鞓堧箘 氚办爼 牍勳湪鞐� 霐半澕 636欤�臧� 欤茧嫻 $8.04鞐� 鞝滌稖路觳橂秳霅橃棃瓿�, 瓯半灅 頉� 氤搓碃鞚胳潃 364欤�毳� 鞙犾澋靻岇湢搿� 氤挫湢頃橁矊 霅橃棃雼り碃 旮办灛霅橃柎 鞛堨姷雼堧嫟. 靹滌嫕鞐惖鐢 氚办爼 牍勳湪鞚� 鞓堧箘旃�(氤搓碃霅� 牍勳湪 63.63%)鞚措┌, 斓滌 氚办爼 牍勳湪鞚� 觳橂秳 欤检嫕 靾橂ゼ 氤�瓴巾暊 瓴届毎 靾橃爼霅� Form 4毳� 鞝滌稖頃� 瓴冹澊霛缄碃 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
Clark Anthony S., administrateur d'abrdn Japan Equity Fund, Inc. (JEQ), a d茅clar茅 une vente d'actions ordinaires le 03/09/2025, r茅alis茅e comme une cession dans le cadre de l'offre publique du fonds. Le dossier indique que 636 actions ont 茅t茅 offertes et c茅d茅es au prix de 8,04 $ par action sur la base d'un facteur de prorata pr茅liminaire, laissant la personne d茅clarante avec 364 actions en propri茅t茅 apr猫s la transaction. Le formulaire pr茅cise que le facteur de prorata est pr茅liminaire (d茅clar茅 脿 63,63%) et qu'un Form 4 amend茅 sera d茅pos茅 si le prorata d茅finitif modifie le nombre d'actions c茅d茅es.
Clark Anthony S., Direktor des abrdn Japan Equity Fund, Inc. (JEQ), meldete am 03.09.2025 den Verkauf von Stammaktien, ausgef眉hrt als Verf眉gung im Zusammenhang mit dem Tenderangebot des Fonds. Die Einreichung zeigt, dass 636 Aktien zu einem Preis von $8,04 pro Aktie auf Grundlage eines vorl盲ufigen Quotierungsfaktors angeboten und ver盲u脽ert wurden, womit die meldende Person nach der Transaktion noch 364 Aktien wirtschaftlich besitzt. Das Formular weist darauf hin, dass der Quotierungsfaktor vorl盲ufig ist (gemeldet mit 63,63%) und ein berichtigtes Form 4 eingereicht wird, falls der endg眉ltige Quotierungsfaktor die Anzahl der ver盲u脽erten Aktien ver盲ndert.
- Transaction disclosed transparently with specific share counts (636 disposed, 364 remaining) and price ($8.04)
- Disposal executed via issuer tender offer, reducing concerns that this was opportunistic open-market insider selling
- Filer commits to amend if final proration changes reported amounts, indicating compliance
- Director's beneficial ownership decreased to 364 shares following the transaction
Insights
TL;DR: Director participated in issuer tender offer, reducing holdings to 364 shares; transaction appears routine and disclosed properly.
The filing documents an insider disposition tied to the issuer's tender offer rather than an open-market sale, which limits interpretive concern about signaling insider disagreement with strategy. The reporting person tendered 636 shares at $8.04 per share with a preliminary proration of 63.63%, resulting in 364 shares retained. The disclosure notes the proration is preliminary and an amended Form 4 may follow, which is appropriate compliance practice. For investors, this is a non-routine corporate action (tender offer) rather than opportunistic insider selling, and it has limited standalone informational content about company fundamentals.
TL;DR: Transaction is an administered tender-offer disposal by a director; disclosure and intent to amend if needed reflect proper governance process.
The Form 4 explicitly ties the disposition to the Fund's tender offer as described in the Schedule TO dated August 1, 2025. That linkage reduces concerns about undisclosed motivations for sale. The preparer included a statement about preliminary proration and committed to amend if final proration alters reported quantities, demonstrating transparency. Materiality is limited: the filing does not show a change in control, option exercise, or other governance action beyond participating in the buyback-like tender offer.
Clark Anthony S., direttore di abrdn Japan Equity Fund, Inc. (JEQ), ha segnalato la vendita di azioni ordinarie il 03/09/2025, eseguita come cessione nell'ambito dell'offerta di acquisto del fondo. La comunicazione indica che sono state offerte e cedute 636 azioni a $8,04 ciascuna, in base a un fattore di prorata preliminare, lasciando il dichiarante con 364 azioni detenute dopo la transazione. Il modulo precisa che il fattore di prorata 猫 preliminare (segnalato come 63,63%) e che verr脿 presentato un Form 4 emendato se il fattore definitivo modifica il numero di azioni cedute.
Clark Anthony S., director de abrdn Japan Equity Fund, Inc. (JEQ), inform贸 la venta de acciones ordinarias el 03/09/2025, realizada como una disposici贸n vinculada a la oferta p煤blica de adquisici贸n del fondo. El informe indica que se ofrecieron y dispusieron 636 acciones a $8,04 por acci贸n, seg煤n un factor de prorrateo preliminar, dejando al declarante con 364 acciones en propiedad despu茅s de la operaci贸n. El formulario aclara que el factor de prorrateo es preliminar (reportado como 63,63%) y que se presentar谩 un Form 4 enmendado si el prorrateo definitivo cambia el n煤mero de acciones dispuestas.
Clark Anthony S., abrdn Japan Equity Fund, Inc. (JEQ)鞚� 鞚挫偓电� 2025-09-03鞐� 氤错喌欤� 毵り皝鞚� 氤搓碃頄堨溂氅�, 鞚吹鐢 韼�霌滌潣 瓿店皽毵れ垬(韰岇澊雿� 鞓ろ嵓)鞕� 甏�霠悳 觳橂秳鞙茧 歆戫枆霅橃棃鞀惦媹雼�. 鞝滌稖靹滌棎电� 鞓堧箘 氚办爼 牍勳湪鞐� 霐半澕 636欤�臧� 欤茧嫻 $8.04鞐� 鞝滌稖路觳橂秳霅橃棃瓿�, 瓯半灅 頉� 氤搓碃鞚胳潃 364欤�毳� 鞙犾澋靻岇湢搿� 氤挫湢頃橁矊 霅橃棃雼り碃 旮办灛霅橃柎 鞛堨姷雼堧嫟. 靹滌嫕鞐惖鐢 氚办爼 牍勳湪鞚� 鞓堧箘旃�(氤搓碃霅� 牍勳湪 63.63%)鞚措┌, 斓滌 氚办爼 牍勳湪鞚� 觳橂秳 欤检嫕 靾橂ゼ 氤�瓴巾暊 瓴届毎 靾橃爼霅� Form 4毳� 鞝滌稖頃� 瓴冹澊霛缄碃 氇呾嫓霅橃柎 鞛堨姷雼堧嫟.
Clark Anthony S., administrateur d'abrdn Japan Equity Fund, Inc. (JEQ), a d茅clar茅 une vente d'actions ordinaires le 03/09/2025, r茅alis茅e comme une cession dans le cadre de l'offre publique du fonds. Le dossier indique que 636 actions ont 茅t茅 offertes et c茅d茅es au prix de 8,04 $ par action sur la base d'un facteur de prorata pr茅liminaire, laissant la personne d茅clarante avec 364 actions en propri茅t茅 apr猫s la transaction. Le formulaire pr茅cise que le facteur de prorata est pr茅liminaire (d茅clar茅 脿 63,63%) et qu'un Form 4 amend茅 sera d茅pos茅 si le prorata d茅finitif modifie le nombre d'actions c茅d茅es.
Clark Anthony S., Direktor des abrdn Japan Equity Fund, Inc. (JEQ), meldete am 03.09.2025 den Verkauf von Stammaktien, ausgef眉hrt als Verf眉gung im Zusammenhang mit dem Tenderangebot des Fonds. Die Einreichung zeigt, dass 636 Aktien zu einem Preis von $8,04 pro Aktie auf Grundlage eines vorl盲ufigen Quotierungsfaktors angeboten und ver盲u脽ert wurden, womit die meldende Person nach der Transaktion noch 364 Aktien wirtschaftlich besitzt. Das Formular weist darauf hin, dass der Quotierungsfaktor vorl盲ufig ist (gemeldet mit 63,63%) und ein berichtigtes Form 4 eingereicht wird, falls der endg眉ltige Quotierungsfaktor die Anzahl der ver盲u脽erten Aktien ver盲ndert.
FAQ
What did Clark Anthony S. report on the Form 4 for JEQ?
Was the sale an open-market transaction or tied to a corporate action?
What is the proration factor and does it affect reported shares?
Does this Form 4 indicate any derivative transactions or option exercises?
Who signed the Form 4 and when?
