Michael C. Forman, the Chief Executive Officer of FS Credit Opportunities Corp. (NYSE:FSCO), has recently sold a substantial amount of company stock, according to the latest regulatory filings. The CEO sold 218,961 shares at a weighted average price of $6.1503, with the transactions occurring in multiple sales ranging from $6.09 to $6.23 per share. The total value of the shares sold by Forman amounted to approximately $1,346,675.
The sales took place on September 6, 2024, and were disclosed in a Form 4 filing with the Securities and Exchange Commission on September 9, 2024. Following the transaction, Forman still indirectly owns 116,297 shares through FSH Seed Capital Vehicle I LLC, as per the disclosure. It is important to note that Forman disclaims beneficial ownership of any shares held by FSH Seed Capital Vehicle I LLC that exceed his pecuniary interest.
In addition to the shares sold, Forman indirectly owns 401,733 shares through MCFDA SCV LLC and another 5,850 shares in an Individual Retirement Account (IRA). Similar to his stance with FSH Seed Capital Vehicle I LLC, Forman disclaims beneficial ownership of any shares held by The 2011 Forman Investment Trust and MCFDA SCV LLC that exceed his pecuniary interest.
Investors often keep an eye on insider transactions as they can provide insights into an executive’s confidence in the company's future performance. However, it should be noted that there can be many reasons for an insider to sell stock, and such transactions do not necessarily indicate a negative outlook.
FS Credit Opportunities Corp. is a publicly traded company, and these transactions are part of the normal disclosure process for insider activities. Interested parties can access further details of the transaction in the SEC's Form 4 filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.