HENNESSY ADVISORS INC — Director's Dealing 2014

May 16, 2014

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HENNESSY ADVISORS INC (HNNA)
CIK: 0001145255
Period of Report: 2014-05-15

Reporting Person: SEAVEY THOMAS L (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2014-05-15	Common Stock	S	14411	$12.2534	Disposed	29800	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to acquire)	$7.11	2014-11-03	Common Stock (25313)	25313	Direct

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $12.25 to $12.2658. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing an average weighted price.