Douglas Group Amends Westport Fuel Systems Stake

TL;DR

Douglas group updated their Westport Fuel stake on 6/17/24. Watch this space.

AI Summary

On June 17, 2024, Kevin Douglas and associated trusts filed an amendment to their Schedule 13D for Westport Fuel Systems Inc. The filing indicates a change in beneficial ownership, with Douglas and related entities now holding a significant stake in the company. The specific percentage and number of shares are detailed within the filing.

Why It Matters

This filing signals a potential shift in control or influence over Westport Fuel Systems Inc. by the Douglas group, which could impact the company's strategic direction and shareholder value.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings can indicate activist investor intentions or significant shifts in major shareholder positions, warranting close monitoring.

Key Players & Entities

• Westport Fuel Systems Inc. (company) — Subject Company
• Kevin Douglas (person) — Filing Person
• IRREVOCABLE DESCENDANTS TRUST FBO ALEXANDER JAMES DOUGLAS (company) — Group Member
• IRREVOCABLE DESCENDANTS TRUST FBO AMANDA ANNE DOUGLAS (company) — Group Member
• IRREVOCABLE DESCENDANTS TRUST FBO JAKE EDWARD DOUGLAS (company) — Group Member
• IRREVOCABLE DESCENDANTS TRUST FBO SUMMER JEAN DOUGLAS (company) — Group Member
• JAMES E. DOUGLAS, III (person) — Group Member
• K&M DOUGLAS TRUST (company) — Group Member
• MICHELLE DOUGLAS (person) — Group Member
• NONEXEMPT TRUST FBO JAMES E. DOUGLAS, III (company) — Group Member

FAQ

Filing Documents

• d838189dsc13da.htm (SC 13D/A) — 190KB
• d838189dex71.htm (EX-7.1) — 15KB
• d838189dex72.htm (EX-7.2) — 20KB
• 0001193125-24-162611.txt ( ) — 227KB

is hereby amended and supplemented to add the following

Item 3 is hereby amended and supplemented to add the following: The information provided or incorporated by reference in Item 4 below is hereby incorporated by reference herein. ITEM4. PURPOSE OF THE TRANSACTION

is

Item 4 is hereby amended and supplemented to add the following: On June 13, 2024, the Douglas Survivors Trust Dated 1-29-1990, Kevin Douglas, Trustee, distributed, pursuant to the terms of such trust, 143,045 shares of Common Stock to the Nonexempt Trust FBO Kevin G. Douglas and 143,043 shares of Common Stock to the Nonexempt Trust FBO James E. Douglas, III, which trusts were established under the agreement for the Douglas Survivors Trust Dated 1-29-1990, Kevin Douglas, Trustee. No funds or other consideration was paid in exchange for the above distributions. Other than as described in this Amendment, the Filers do not have any plan or proposal that relates to or would result in any of the actions described in subparagraphs (a) through (j) of Item 4 of Schedule 13D. ITEM5. INTEREST IN SECURITIES OF THE ISSUER The beneficial ownership of the Common Stock by each Filer at the date hereof is reflected on that Filers cover page. Other than as described in this Amendment, there were no transactions effected by the Filers in the Common Stock within the past sixty (60) days. ITEM6. CONTRACTS, AGREEMENTS, UNDERSTANDINGS OR RELATIONSHIPS WITH RESPECT TO SECURITIES OF THE ISSUER. The Filers hereby add the following disclosure to this Item 6: Other than the relationships mentioned above and except for the Joint Filing Agreement, dated June 14, 2024 and the Limited Power of Attorney, dated June 14, 2024, each of which is filed as an exhibit to this Schedule 13D, to the knowledge of the Filers, none of the Filers is party to any other contracts, arrangements, understandings or relationships with respect to any securities of the Issuer, including but not limited to the transfer or voting of any of the securities, finders fees, joint ventures, loan or option agreements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies. ITEM7. MATERIALS TO BE FILED AS EXHIBITS. The Filers hereby add the following disclosur

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View this SC 13D/A filing on SEC EDGAR