Prospect Capital CEO John Barry Buys $1.7 Million in Shares

John F. Barry, chief executive officer of Prospect Capital Corp (PSEC), bought 1,222,704 shares of common stock at $1.4127 a share on Nov. 6, according to a Form 4 filed Nov. 10. The purchase was worth about $1.73 million. Director Eugene S. Stark bought 15,000 shares the same day.

A Form 4 is the report that officers, directors and holders of more than 10% of a company's stock must file within two business days of a trade in its shares. Both filings use transaction code P, which marks an open-market or private purchase paid for by the insider, as opposed to grants, option exercises or purchases under an employee plan.

Barry is listed as an officer, a director and a ten percent owner. His shares were held directly. The purchase lifted that direct holding to 91,793,776.818 shares from 90,571,072.818, an increase of 1.3%. The filing was submitted four calendar days after the trade, or two weekdays.

Stark paid $1.34 a share, or $20,100 in all, according to a Form 4 filed Nov. 9. His direct holding rose to 75,000.345 shares from 60,000.345, a 25% increase. His filing came three calendar days after the trade, or one weekday.

Together the two reported transactions covered 1,237,704 shares and about $1.75 million. Prices ran from $1.34 to $1.4127 a share. Neither purchase was marked as made under a Rule 10b5-1 trading plan.

Barry has bought before. Between July 23 and the Nov. 9 filing, one open-market purchase by an insider at Prospect Capital had been filed: Barry's Sept. 4 purchase of 1,217,105 shares, valued at $2,726,315.20. His Nov. 6 purchase came 63 days after it. Barry was the only buyer in that window.

No open-market sales by insiders were filed in the window from July 23 to the Nov. 9 filing.