Insider Trading Report: January 07, 2026 — Notable Transactions

Form 4 filings submitted to the SEC on January 07, 2026 reveal a notable pattern of insider buying concentrated in the energy sector alongside executive selling at defense contractor Leonardo DRS during a leadership transition. The most significant open-market purchases came from LandBridge (LB) and WBI Energy (WBI) insiders, with combined purchases exceeding $428,000, while Leonardo DRS saw $721,637 in executive sales as the company announced new leadership. A total of 33 transactions were filed across 9 companies, with energy sector insiders demonstrating confidence near recent lows while defense sector executives reduced positions during organizational changes.

Notable Insider Transactions

Leonardo DRS, Inc. (DRS) - $9.97B Market Cap

Multiple Executive Sales: $721,637 Total

Transaction Details - EVP & CFO Sale:

• Insider: Michael Dippold — EVP and CFO
• Transaction Type: Sale
• Shares: 10,588 shares at $37.00
• Total Value: $391,756
• Filing Date: January 07, 2026
• Transaction Date: January 05, 2026
• Ownership After: 42,952 shares

Additional Executive Sales:

• Mark Dorfman (EVP, General Counsel & Secretary): Sold 7,680 shares at $37.00 = $284,160
• Sally Wallace (EVP, Chief Operating Officer): Sold 1,300 shares at $35.17 = $45,721

Recent Developments:

• January 6, 2026: Leonardo DRS named Sally Wallace as Chief Operating Officer (Business Wire)
• January 5, 2026: John Baylouny officially assumed role of President and CEO, effective January 1, 2026 (Business Wire)
• January 7, 2026: Analysts assigned average "Moderate Buy" rating with nine brokerages covering the stock (Defense World)

Context:
The timing of these sales coincides with a major leadership transition at Leonardo DRS, with John Baylouny taking over as CEO on January 1 and Sally Wallace being promoted to COO on January 6. Sales by the CFO, General Counsel, and newly-appointed COO during this transition period appear to be routine portfolio management rather than signaling lack of confidence, as they retain substantial holdings post-transaction (CFO retained 42,952 shares, GC retained 27,680 shares). The defense contractor continues to receive positive analyst coverage with a "Moderate Buy" consensus, suggesting the market views these sales as procedural rather than bearish. Wallace's sale occurred the day before her COO appointment was announced, likely planned in advance under Rule 10b5-1.

LandBridge Company LLC (LB) - $3.63B Market Cap

Multiple Insider Purchases: $164,630 Total

Transaction Details - Director/Officer Purchase:

• Insider: Jason Thomas Long — Director & Officer
• Transaction Type: Purchase
• Shares: 2,143 shares at $46.59
• Total Value: $99,842
• Filing Date: January 07, 2026
• Transaction Date: January 05, 2026
• Ownership After: 223,546 shares

Additional Insider Purchases:

• Harrison Fenner Bolling (Officer): Purchased 850 shares at $46.84 = $39,814
• Scott Lloyd McNeely (Officer): Purchased 549 shares at $45.49 = $24,974

Recent Developments:

• January 2, 2026: LandBridge shares hit new 52-week low, trading as low as $48.11 (Defense World)
• December 27, 2025: Seeking Alpha featured LandBridge as a "Favorite Investment Pick For 2026" in energy sector analysis
• December 24, 2025: Energy sector analysis noted sector badly lagged in 2025 but highlighted long-term thesis remains intact with today's oil prices viewed as unsustainable (Seeking Alpha)

Context:
The coordinated insider buying at LandBridge is particularly notable given the stock just hit a 52-week low of $48.11, with insiders purchasing at prices ranging from $45.49 to $46.84. Director Jason Long's $99,842 purchase represents significant conviction, increasing his holdings to 223,546 shares. The timing suggests insiders view current prices as attractive entry points, consistent with Seeking Alpha analysis positioning LandBridge among top 2026 energy picks. These purchases signal confidence despite recent underperformance, with insiders apparently believing the market has overcorrected on near-term energy sector weakness. The three separate buyers making purchases on the same transaction date (January 5) indicates possible coordination or shared conviction following the 52-week low.

WBI Energy Holdings (WBI) - Market Cap N/A

Multiple Insider Purchases: $263,842 Total

Transaction Details - CEO Purchase:

• Insider: Jason Thomas Long — Director & Chief Executive Officer
• Transaction Type: Purchase
• Shares: 5,000 shares at $19.84
• Total Value: $99,200
• Filing Date: January 07, 2026
• Transaction Date: January 05, 2026
• Ownership After: 142,500 shares

Additional Insider Purchases:

• Michael Howard Reitz Jr (Officer): Purchased 4,865 shares at $20.49 = $99,684 (January 6)
• Harrison Fenner Bolling (Officer): Purchased 2,000 shares at $19.98 = $39,960
• Scott Lloyd McNeely (Officer): Purchased 1,278 shares at $19.56 = $24,998 (January 6)

Recent Developments:

• December 24, 2025: Energy sector analysis highlighted that "Energy is, By Far, My Favorite Sector For 2026" despite 2025 underperformance, noting oil prices aren't sustainable at current low levels (Seeking Alpha)

Context:
WBI Energy insiders executed four separate purchases totaling over $263,000, with CEO Jason Thomas Long leading with a $99,200 purchase that increased his stake to 142,500 shares. The pattern mirrors LandBridge insider buying, with the same three officers (Long, Bolling, McNeely) making purchases at both companies on the same dates, suggesting these individuals hold positions at affiliated energy companies. The coordinated purchases across two energy holdings indicate strong insider conviction about energy sector recovery prospects. Officer Michael Reitz's $99,684 purchase on January 6—the largest single transaction—brought his holdings to 99,865 shares, representing substantial insider alignment. The clustering of purchases in the $19-$21 range suggests insiders view current valuation as significantly discounted.

Hub Group, Inc. (HUBG) - $2.75B Market Cap

Transaction Details - Director Tax Payment:

• Insider: Martin P. Slark — Director
• Transaction Type: F-InKind (Tax Payment)
• Shares: 1,695 shares at $42.75
• Total Value: $72,461
• Filing Date: January 07, 2026
• Transaction Date: January 02, 2026
• Ownership After: 238,371 shares

Additional Transaction:

• Martin P. Slark also received an A-Award of 4,679 shares (bringing total to 243,050 after both transactions)

Recent Developments:

• January 6, 2026: uCloudlink announced game-changing AI-Hub G50 Max at CES 2026 (PRNewsWire) [Note: This appears to be unrelated company news in feed]
• January 4, 2026: Hub Group compared to PTL in transportation company analysis (Defense World)
• December 28, 2025: Deprince Race & Zollo Inc. increased position in Hub Group by 44.8% (Defense World)

Context:
This F-InKind transaction represents a routine tax payment in shares as Director Martin Slark used 1,695 shares to cover tax obligations on a stock award, a common practice for equity compensation. The simultaneous award of 4,679 shares increased his net position despite the tax payment, leaving him with 243,050 shares. This type of transaction is neutral from a sentiment perspective, as it reflects compensation structure rather than the director's view on company prospects. The $2.75B transportation and logistics company has attracted increased institutional interest recently, with Deprince Race & Zollo boosting its stake by 44.8% in late 2025.

Huron Consulting Group Inc. (HURN) - $3.07B Market Cap

Multiple Director Sales: $73,825 Total

Transaction Details:

• Debra Zumwalt (Director): Sold 170 shares at $170.89 = $29,051
• Hugh E. Sawyer III (Director): Sold 136 shares at $170.89 = $23,241
• Ekta Singh-Bushell (Director): Sold 126 shares at $170.89 = $21,532

Filing Date: January 07, 2026
Transaction Date: January 05, 2026

Recent Developments:

• December 29, 2025: Burney Co. acquired new $938,000 position in Huron Consulting during Q3 (Defense World)

Context:
Three directors executed small, coordinated sales of 126-170 shares each at the same price ($170.89), totaling under $75,000. The identical pricing and same-day execution suggest these sales were likely pre-planned under Rule 10b5-1 plans for routine liquidity or tax planning purposes. The relatively small size of the sales—representing minimal percentages of each director's total holdings—indicates these are routine transactions rather than signaling concerns about the company's prospects. Director Zumwalt retained 26,469 shares after the sale, while the consulting firm continues to attract institutional investment, with Burney Co. recently initiating a nearly $1M position in Q3 2025.

Full Transaction Table

Note: This table excludes A-Award (compensation grant) transactions for DEC and other routine equity awards. Market cap data unavailable for WBI.

Market Themes

Energy Sector Insider Conviction

The most striking pattern in today's filings is concentrated insider buying in energy holdings, with Jason Thomas Long, Harrison Fenner Bolling, and Scott Lloyd McNeely making coordinated purchases across both LandBridge (LB) and WBI Energy (WBI), totaling over $428,000 combined. These purchases occurred as LandBridge hit 52-week lows and align with recent Seeking Alpha analysis positioning energy as a top sector for 2026 despite 2025 underperformance. The same three individuals buying at both companies suggests they hold executive roles at affiliated energy entities and share conviction that current oil prices and valuations are unsustainably low.

Defense Contractor Leadership Transition Sales

Leonardo DRS saw $721,637 in executive sales during a significant leadership transition, with the new CEO taking over January 1 and a new COO appointed January 6. While the timing might raise questions, the sales appear routine and pre-planned, as executives retained substantial positions post-transaction and the company continues to receive "Moderate Buy" analyst ratings. Leadership transitions often trigger pre-scheduled equity sales under Rule 10b5-1 plans for tax planning and diversification.

Routine Director Activity

Small director sales at Huron Consulting ($73,825 total) and tax-related share payments at Hub Group represent routine portfolio management rather than meaningful signals. The coordinated nature and small size of Huron director sales suggest Rule 10b5-1 plans, while Hub Group's F-InKind transaction is standard practice for covering tax obligations on equity compensation.

Buying vs. Selling Trends

Today's filings show a clear sector-based divergence: energy insiders accumulating aggressively while defense executives reduce positions during organizational changes. The energy sector purchases represent open-market conviction buys near cyclical lows, historically a more bullish signal than sales, which can be motivated by diversification, taxes, or liquidity needs unrelated to company outlook. The four separate energy purchases on January 5-6 versus defense sales on the same dates highlight contrasting insider sentiment across sectors.

How to Interpret Insider Trading

Form 4 Filings Basics

Corporate insiders—including officers, directors, and 10% owners—must file Form 4 with the SEC within 2 business days of executing transactions in company stock. These filings provide transparency into whether company leadership is increasing or decreasing their ownership stakes.

Insider Purchases Often Signal Confidence

While there are many reasons insiders might sell stock (diversification, tax planning, estate management, liquidity needs), there's typically only one reason insiders buy with their own money: they believe the stock is undervalued. Today's energy sector purchases—particularly at LandBridge near 52-week lows and WBI Energy in the $19-$21 range—represent insiders putting personal capital at risk, a generally bullish indicator.

Sales Can Be Routine

Insider sales are more ambiguous than purchases. The Leonardo DRS executive sales during a CEO transition and Sally Wallace's sale before her COO promotion announcement likely reflect pre-planned 10b5-1 trading plans rather than negative views on the company. Similarly, small director sales at Huron Consulting and tax payments at Hub Group are routine transactions that don't signal bearish sentiment.

Context Matters

Consider transaction size, timing, and whether multiple insiders are acting together. Today's coordinated energy sector purchases by three executives at two different companies represent a stronger signal than isolated small sales. Also note that CEO Jason Long's $99,200 WBI Energy purchase increased his stake to 142,500 shares, representing significant insider alignment rather than just a token gesture.

This is Informational Only

Insider trading data provides insight into management confidence but should be considered alongside fundamental analysis, valuation, and broader market conditions. This report presents factual information about filed transactions and is not investment advice. Always conduct your own due diligence before making investment decisions.

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