Hedrick Estate Updates ISSI Stake via SC 13D/A Amendment

TL;DR

**Major insider estate just updated its stake in Innovative Solutions & Support.**

AI Summary

Christopher Scott Ginieczki, as the personal representative of the Estate of Geoffrey S. M. Hedrick, filed an Amendment No. 2 to Schedule 13D on January 30, 2024, regarding their ownership in Innovative Solutions and Support, Inc. (ISSI). This filing updates previous disclosures about the estate's holdings of ISSI's common stock, par value $0.001 per share. This matters to investors because it provides transparency on significant insider ownership changes, which can influence stock perception and potential future actions by a major shareholder.

Why It Matters

This filing updates the public record on a significant insider's holdings, which can signal stability or potential future shifts in control or strategy for Innovative Solutions and Support, Inc.

Risk Assessment

Risk Level: low — This filing is an update to an existing disclosure and does not indicate any immediate negative or positive action, primarily providing transparency on a significant shareholder's status.

Analyst Insight

Investors should note this update as a routine disclosure from a significant insider. While not immediately actionable, it's a data point for tracking major shareholder activity. Further amendments would be more indicative of a change in strategy or intent.

Key Players & Entities

• Christopher Scott Ginieczki (person) — Personal Representative of the Estate of Geoffrey S. M. Hedrick
• Estate of Geoffrey S. M. Hedrick (company) — The filing person and significant shareholder
• Innovative Solutions and Support, Inc. (company) — The issuer of the securities
• $0.001 (dollar_amount) — Par value per share of Common Stock

FAQ

Key Financial Figures

• $0.001 — ame of Issuer) Common Stock, par value $0.001 per share (Title of Class of Securiti
• $8.25 — ple transactions at prices ranging from $8.25 to $8.65 per share, excluding commissio
• $8.65 — actions at prices ranging from $8.25 to $8.65 per share, excluding commissions. (2)
• $8.50 — ple transactions at prices ranging from $8.50 to $8.59 per share, excluding commissio
• $8.59 — actions at prices ranging from $8.50 to $8.59 per share, excluding commissions. (3)
• $8.45 — ple transactions at prices ranging from $8.45 to $8.605 per share, excluding commissi
• $8.605 — actions at prices ranging from $8.45 to $8.605 per share, excluding commissions. (4)
• $8.30 — ple transactions at prices ranging from $8.30 to $8.40 per share, excluding commissio
• $8.40 — actions at prices ranging from $8.30 to $8.40 per share, excluding commissions. (5)
• $8.15 — ple transactions at prices ranging from $8.15 to $8.24 per share, excluding commissio
• $8.24 — actions at prices ranging from $8.15 to $8.24 per share, excluding commissions. (6)
• $8.22 — actions at prices ranging from $8.15 to $8.22 per share, excluding commissions. (7)
• $8.23 — actions at prices ranging from $8.15 to $8.23 per share, excluding commissions. (8)
• $8.245 — actions at prices ranging from $8.15 to $8.245 per share, excluding commissions. (9)
• $8.205 — actions at prices ranging from $8.15 to $8.205 per share, excluding commissions. (10

Filing Documents

• tm244154d1_sc13da.htm (SC 13D/A) — 99KB
• tm244154d1_ex99-1.htm (EX-99.1) — 5KB
• 0001104659-24-009503.txt ( ) — 105KB

Purpose of Transaction

Item 4. Purpose of Transaction.

of the Schedule 13D is hereby amended by adding the following

Item 4 of the Schedule 13D is hereby amended by adding the following immediately at the end thereof: This Amendment No. 2 reports a decrease in the Reporting Persons percentage of beneficial ownership of the outstanding shares of Common Stock of the Issuer since the date of Amendment No. 1.

Interest in Securities of the Issuer

Item 5. Interest in Securities of the Issuer. Paragraphs (a), (b) and (c) of Item 5 of the Schedule 13D are hereby deleted in their entirety and replaced with the following: (a)-(b) The Reporting Persons may be deemed to beneficially own 1,476,829 shares of Common Stock of the Issuer, which represent approximately 8.46% of the outstanding Common Stock of the Issuer, based on 17,459,983 shares of Common Stock of the Issuer outstanding as of January 12, 2024, as reported in the Issuer’s as reported in the Issuer’s Amendment No. 1 on Form 10-K/A to its Annual Report on Form 10-K for the fiscal year ended September 30, 2023. The Reporting Persons have shared voting and dispositive power over the 1,476,829 shares of Common Stock of the Issuer, which were previously owned directly by Mr. Hedrick prior to his death and are now owned by the Estate. In addition, Mr. Ginieczki may be deemed to share voting and dispositive power over 20,948 shares of Common Stock of the Issuer that are held by the Ginieczki Family Trust, of which Mr. Ginieczki is a co-trustee. (c) During the past sixty (60) days, the Estate sold an aggregate of 175,063 shares of Common Stock of the Issuer in open market transactions as follows: Date of Sale Number of Shares Price Per Share 12/21/2023 128,946 $ 8.26 (1) 12/26/2023 1,379 $ 8.25 12/29/2023 7,600 $ 8.52 (2) 1/2/2024 3,362 $ 8.52 (3) 1/3/2024 607 $ 8.30 1/4/2024 5,563 $ 8.35 (4) 1/16/2024 800 $ 8.20 1/17/2024 173 $ 8.15 1/18/2024 8,941 $ 8.17 (5) 1/19/2024 3,507 $ 8.17 (6) 1/22/2024 6,539 $ 8.16 (7) 1/23/2024 5,411 $ 8.17 (8) 1/29/2024 409 $ 8.16 (9) 1/30/2024 1,002 $ 8.16 (10) 1/31/2024 824 $ 8.15 (1) The price shown is the weighted average sale price for the transactions reported on this date. These shares of Common Stock were sold in multiple transactions at prices ranging from $8.25 to $8.65 per share, excluding commissions. (2) The price shown is the weighted av

Material to be Filed

Item 7. Material to be Filed as Exhibits. Exhibit 99.1 Joint Filing Agreement, dated as of February 1, 2024, between the Estate of Geoffrey S. M. Hedrick and Christopher Scott Ginieczki, as Personal Representative of the Estate of Geoffrey S. M. Hedrick.

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of each of the undersigned’s knowledge and belief, each of the undersigned certify that the information set forth in this statement is true, complete and correct. Dated: February 1, 2024 Estate of Geoffrey S. M. Hedrick By: /s/ Christopher Scott Ginieczki Name: Christopher Scott Ginieczki Title: Personal Representative of the Estate of Geoffrey S. M. Hedrick /s/ Christopher Scott Ginieczki Christopher Scott Ginieczki, as Personal Representative of the Estate of Geoffrey S. M. Hedrick

View Full Filing

View this SC 13D/A filing on SEC EDGAR