SEC Form 4: George W Whitney gifted 27,798 shares and received a gift of 4,266 shares, decreasing direct ownership by 0.17% to 7,361,981 units
$FUND
Investment Managers
Finance
| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
SPROTT FOCUS TRUST INC. [ FUND ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 12/06/2022 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 12/06/2022 | G | V | 6,000 | D | $0.00 | 7,368,380(6) | D | ||
| Common Stock | 12/06/2022 | G | V | 9,000 | D | $0.00 | 2,719,047(6) | I | Held by Spouse | |
| Common Stock | 01/03/2023 | G | V | 6,399(7) | D | $0.00 | 7,361,981 | D | ||
| Common Stock | 01/03/2023 | G | V | 6,399(7) | D | $0.00 | 2,712,648 | I | Held by Spouse | |
| Common Stock | 01/03/2023 | G | V | 4,266(7) | A | $0.00 | 190,380(6) | I | Held by Son | |
| Common Stock | 1,148,293(6) | I | Held by Trust(1) | |||||||
| Common Stock | 2,085,978(6) | I | Held by Foundation(2) | |||||||
| Common Stock | 92,123(6) | I | Held by Trust(3) | |||||||
| Common Stock | 322,085(6) | I | Held by Trust(4) | |||||||
| Common Stock | 322,085(6) | I | Held by Trust(5) | |||||||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Explanation of Responses: |
| 1. Shares held by a trust established for the benefit of Mr. George's children. As beneficiaries of the trust, Mr. George's children have a pecuniary interest in the trust. Mr. George may be deemed to beneficially own the shares held by the trust. |
| 2. Shares held by The Meredith and Whitney George Family Foundation (the "Foundation"). Mr. George serves as Chairman of the Foundation and, in such capacity, has investment and voting discretion over shares held by the Foundation. |
| 3. Shares held by a trust established for the benefit of Mr. George's spouse. Mr. George serves as trustee of the trust and, in such capacity, has investment and voting discretion over shares held by the trust. As beneficiary of the trust, Mr. George's spouse has a pecuniary interest in the trust. Mr. George may be deemed to beneficially own the shares held by the trust. |
| 4. Shares held by a trust established for the benefit of Mr. George's immediate family member (the "BM Trust"). Mr. George serves as trustee of the BM Trust and, in such capacity, has investment and voting discretion over shares held by the BM Trust. Mr. George may be deemed to beneficially own the shares held by the BM Trust. |
| 5. Shares held by a trust established for the benefit of Mr. George's immediate family member (the "TM Trust"). Mr. George serves as trustee of the TM Trust and, in such capacity, has investment and voting discretion over shares held by the TM Trust. Mr. George may be deemed to beneficially own the shares held by the TM Trust. |
| 6. Amount of shares beneficially owned includes shares acquired under the Issuer's Dividend Reinvestment Program (the DRIP) on December 22, 2022, subsequent to the gift transactions on December 6, 2022 reported herein. |
| 7. Represents transfers as gifts by each of Mr. George and his spouse of 2,133 shares to each of their three sons, resulting in a cumulative gift transfer of 6,399 shares by each of Mr. George and his spouse. Mr. George may be deemed to beneficially own and have a pecuniary interest in the 4,266 shares transferred to the son that resides in Mr. George's household. |
| Remarks: |
| Mr. George disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. George is the beneficial owner of the securities for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. |
| /s/ W. Whitney George | 01/04/2023 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||