In a recent series of transactions, Neil Subin, a significant shareholder of Gulf Coast Ultra Deep Royalty Trust (OTC:GULTU), sold a substantial amount of common stock. The transactions, which took place on November 27, 2024, involved the sale of shares across various trusts and entities associated with Mr. Subin. The timing is notable as InvestingPro data shows GULTU has seen a 59% price surge over the past six months, though it experienced an 8% decline in the past week.
The sales totaled 32,821,419 shares, with each share sold at a price of $0.0165, culminating in an aggregate value of approximately $544,092. These shares were sold through various trusts, including the Catherine C Miller Irrevocable GST Trust, LIM III Estate LLC, and others, all of which are indirectly owned.
Mr. Subin serves as the President and Manager of MILFAM LLC, which manages or advises several entities that were previously under the management of the late Lloyd I. Miller, III. Additionally, Mr. Subin acts as a trustee for several Miller family trusts. Following these transactions, the trusts and entities involved no longer hold any shares of Gulf Coast Ultra Deep Royalty Trust.
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