HENNESSY ADVISORS INC — Director's Dealing 2016

Aug 25, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HENNESSY ADVISORS INC (HNNA)
CIK: 0001145255
Period of Report: 2016-08-22

Reporting Person: NILSEN TERESA M (Director, EVP, CFO and Secretary)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-22	Common Stock	G	1000	—	Disposed	101387	Direct
2016-08-23	Common Stock	S	307	$34.4749	Disposed	101080	Direct
2016-08-23	Common Stock	S	4693	$35.713	Disposed	96387	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	2024	Indirect
Common Stock	1012	Indirect

Footnotes

F1: The price in Column 4 is a weighted average price. The prices actually received ranged from $34.25 to $35.8788. 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 a weighted average price.