EverHint — Insider Trading Radar (November 21, 2025)

Scope: Today’s notable Form 4 activity with focus on 10%-owner / control-level moves, sizeable open-market buys vs. sells, and how they line up with fresh corporate news.

10%-Owner & Control-Level Activity

LB — LandBridge Company (LandBridge Holdings LLC stake sale)

Who:

• LandBridge Holdings LLC — Director, 10%+ owner / selling shareholder

What:

• Sale – 2,500,000 Class A shares @ $70.00 per share (≈**$175M**) on Nov 18, 2025, sold to the underwriter as part of a secondary offering. (Stock Titan)

Context:

• LandBridge has just priced a secondary offering of 2.5M Class A shares at $71.00 to the public, all sold by LandBridge Holdings LLC. The company itself receives no proceeds; the deal simply increases public float and reduces the majority holder’s stake to ~63%. (landbridgeco.com)

Read-through:

• This is a liquidity event for a major shareholder, not a capital raise by the company.
• For traders, it’s primarily about supply overhang and float expansion, not a sudden change in the operating story.

NRDY — Nerdy Inc.

Who:

• Charles K. Cohn — CEO, Director, 10% owner

What:

• Buy – 270,578 shares @ $0.91 (range ~$0.85–$0.94) for a total of ≈$246,226 on Nov 19, 2025 (code P, open-market). (Investing.com)

Context:

• Recent coverage highlights this as a sizeable CEO purchase at penny-stock levels, adding to an already large direct and indirect position held through various entities and trusts. (Stock Titan)

Read-through:

• Classic insider conviction signal in a beaten-down name — the top decision-maker is willing to put fresh capital to work at current prices.

COSM — Cosmos Health

Who:

• Grigorios Siokas — CEO, Director, 10% owner

What:

• Share acquisition via debt exchange – 51,315 shares @ $0.6236 (≈**$32,000**) on Nov 20, 2025. (TradingView)

Context:

• The company issued shares to the CEO in lieu of $32,000 owed, at fair market value on the transaction date. After this move, Siokas directly owns roughly 6.27M shares. (TradingView)

Read-through:

• Technically a debt-for-equity swap, not a cash open-market buy, but it still tightens alignment between the CEO and equity holders in a very small-cap, volatile name.

BPRN — Princeton Bancorp

Who:

• Martin Tuchman — Director, 10% owner (via affiliated foundation)

What (latest legs): (Stock Titan)

• Buy – 2,000 shares @ $32.30 (≈**$64,600**) on Nov 20, 2025
• Buy – 1,056 shares @ $32.2473 (≈**$34,053**) on Nov 19, 2025
• Recent days also saw:
  • 3,000 shares @ ~$32.53 (≈**$97,600**) across Nov 17–18
  • 5,000 shares @ $33.00 (≈**$165,000**) on Nov 12 (direct account)

Context:

• The Tuchman Foundation and Tuchman personally have been consistently adding around the low-$30s, shortly after the bank raised its quarterly dividend to $0.35 (≈4% yield at current levels). (MarketBeat)

Read-through:

• This is a textbook high-conviction, multi-day accumulation by a major shareholder in a thinly traded community bank.

Notable Insider Buys

UPXI — Upexi

Who:

• Gene Salkind — Director

What (today’s Form 4):

• Buy – 50,000 shares @ $2.55 (≈**$127,500**) on Nov 20, 2025 (indirect, via marital trust). (Investing.com)

Context:

• This follows an earlier 100,000-share purchase at ~$2.65 earlier in the week, lifting Salkind’s ownership meaningfully. Recent coverage also points to a $50M buyback authorization, giving the company flexibility to retire roughly a quarter of its outstanding shares at recent prices. (TradingView)

Read-through:

• Combination of board-level buying plus a large repurchase plan is exactly the kind of insider-capital alignment many small-cap investors look for.

EPSN — Epsilon Energy

Who:

• Jason Stabell — CEO

What:

• Buys totaling 21,200 shares across Nov 19–20, 2025, at an average around $4.80 per share (≈**$101,700** combined). (TradingView)

Context:

• The purchases come shortly after Epsilon completed its acquisition of Peak BLM Lease LLC, issuing 2.23M shares as part of the consideration. (Quiver Quantitative)

Read-through:

• CEO is adding exposure right after a stock-for-assets deal, a constructive signal that management likes the risk/reward of the enlarged asset base even after equity issuance.

SLS — SELLAS Life Sciences Group

Who:

• Katherine Bach Kalin — Director

What:

• Buy – 63,400 shares @ $1.59 (≈**$100,806**) on Nov 19, 2025, open-market. (Stock Titan)

Context:

• The Form 4 notes multiple trades between $1.555–$1.625 per share. Recent write-ups have been focusing on SELLAS’ late-stage oncology pipeline and past index-inclusion and upgrade headlines earlier this year. (StreetInsider.com)

Read-through:

• Mid-six-figure director buy in a speculative biotech — high-risk, potentially high-reward and usually most relevant to investors already following the company’s pipeline.

NRDY — Nerdy Inc. (revisited)

• The CEO/10% owner purchase of 270k+ shares at sub-$1 prices (see above) stands out as one of the largest dollar-value insider buys on today’s tape and reinforces the small-cap ed-tech insider accumulation theme. (Investing.com)

Notable Insider Sells

MMSI — Merit Medical Systems

Who:

• Fred P. Lampropoulos — Executive Chairman, Director, 10% owner

What:

• Sale – 20,000 shares @ $85.13 (≈**$1.70M**) on Nov 20, 2025. (Investing.com)

Context:

• The sale was executed in multiple trades between $85.01–$86.35. After the transaction, Lampropoulos still controls roughly 1.16M shares through direct and indirect holdings. (Stock Titan)

Read-through:

• Sizeable in dollars but modest relative to total stake. This looks more like portfolio diversification / liquidity than a fundamental statement about the business.

YUMC — Yum China

Who:

• Jeff Kuai — Officer, General Manager (Pizza Hut China)

What:

• Sale – 5,167 shares @ $48.00 (≈**$248,016**) on Nov 20, 2025, plus related trades tied to stock appreciation right (SAR) exercise. (Investing.com)

Context:

• The Form 4 shows a SAR linked to 9,251 shares at $21.06, with some shares effectively acquired via the derivative and others sold into the market. Recent commentary notes the stock trading below some fair-value estimates despite solid financial health metrics. (Investing.com)

Read-through:

• This is classic compensation-driven activity — derivatives vest, insider monetizes a portion. Low-to-medium signal for long-term holders.

LB — LandBridge (secondary offering follow-through)

• The 2.5M-share sale by LandBridge Holdings LLC (see above) is technically an insider sale, but it’s best thought of as a structured secondary offering rather than an opportunistic trim. The company itself receives no cash; the benefit to the market is more liquidity and float. (landbridgeco.com)

APD — Air Products and Chemicals

Who:

• Andrew W. Evans — Director

What:

• Small sales totaling 10 shares (5 @ $294.96, 5 @ $283.20) earlier this year. (Seeking Alpha)

Read-through:

• Trivial in size; effectively noise in the context of a large-cap industrial.

Quick Take

• Bullish side:
  • Multiple CEO / 10%-owner accumulators in small caps:
    • NRDY (ed-tech), EPSN (energy), COSM (micro-cap healthcare), BPRN (community bank), SLS (oncology biotech), and UPXI (consumer / brand roll-up). (Investing.com)
  • Several of these buys line up with recent corporate actions — acquisitions (EPSN), balance-sheet clean-up (COSM), higher dividends (BPRN), and buyback programs (UPXI).
• Bearish / neutral side:
  • Big dollar “sells” are mostly structured events:
    • LandBridge (LB) secondary offering by a selling shareholder
    • MMSI insider trimming a fraction of a large long-held stake
    • YUMC monetizing stock-based comp
  • These look more like liquidity and portfolio management than sudden loss of faith. (Stock Titan)

Overall, today’s tape skews toward incremental bullishness in smaller names, with larger-cap transactions dominated by secondary offerings and compensation mechanics rather than sharp insider pivots.

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