Jefferies CEO Richard Handler Gifts 417,269 Shares To A Family Trust
The estate-planning transfer leaves his reported beneficial holdings unchanged, with 15,480,688 shares still reported.
Jefferies Financial Group CEO Richard B Handler gifted 417,269 shares of JEF stock to a family trust on Wednesday, moving them out of two LLCs he manages, according to a Form 4, the report insiders file after trading. A footnote calls the transfer estate planning that changes none of his beneficial holdings.
Two LLCs Into One Trust
The gift came from two entities: 331,685 shares left Handler's 2022 LLC and 85,584 left his 2022-A LLC. Both lines now show zero shares.
All 417,269 shares landed in his 2003 Trust, whose line now totals 648,537 shares. Handler is the manager of the LLCs, and his trusts are their members, the footnote says.
The filing states that the transactions may be exempt under Rule 16a-13.
Holdings Unchanged At 15.5 Million
After the transfer, Handler reports 15,480,688 JEF shares: 12,854,174 held directly and 2,626,514 indirectly. The gifted block is about 2.62% of the 15,897,957 shares he reported before the filing.
JEF closed at $46.12 on Friday, after a 6.16% drop in that session. The filing states no price for a gift.
The Company Behind The Shares
Jefferies, an investment banking and capital markets firm based in New York, advises companies on mergers, restructurings and capital raising. It also underwrites stock and debt offerings and trades equities and fixed income for clients.
Handler's next Form 4 will show whether any trades follow this internal transfer.
Sources
- Form 4 — Richard B Handler (JEF) — SEC EDGAR
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