Insider Trading Signals — December 16, 2025 — Daily Snapshot
Executive Summary
Insider activity on 2025-12-16 showed a slight bullish tilt, driven by 11 open-market purchases totaling about $1.47M versus 6 sales totaling about $1.10M (net ~+$0.37M). The most notable buying was concentrated in a few names, while selling appeared more dispersed and often smaller in relative size.
Activity Breakdown
| Transaction Type | Count | Total Value | Avg. Value |
|---|---|---|---|
| Purchases (P) | 11 | $1.47M | $134.0K |
| Sales (S) | 6 | $1.10M | $183.7K |
| Awards (A) | 17 | $16.95M | $996.8K |
| Gifts (G) | 5 | $0 | $0 |
| Option Exercise (M) | 2 | $46.7K | $23.4K |
| Tax Withholding (F) | 1 | $265.9K | $265.9K |
Net Signal (P vs S only): Bullish (11 buys vs 6 sells, ~+$0.37M net buying)
Note: Awards (A), tax withholding (F), gifts (G), and option exercises (M) can reflect compensation, taxes, or mechanics—so the net signal focuses on open-market buys/sells.
Top Notable Transactions (10–15)
- 🔴 Aflac (AFL) — Moderate Bearish
- Insider: Steven Kent Beaver, officer: EVP, CFO Aflac Japan
- Transaction: Sale of 5,492 shares @ $109.52
- Value: $601.5K (about 14.3% of shares owned after)
- Filing: SEC filing
- 🟢 Vivani Medical (VANI) — Moderate Bullish
- Insider: Gregg Williams, director, 10 percent owner
- Transaction: Purchase of 264,551 shares @ $1.26
- Value: $333.3K (about 1.1% of shares owned after)
- Filing: SEC filing
- 🟢 Nerdy (NRDY) — Moderate Bullish
- Insider: Charles K. Cohn, director, 10 percent owner, officer: Chief Executive Officer
- Transaction: Purchase of 180,353 shares @ $1.38
- Value: $248.9K (about 0.6% of shares owned after)
- Filing: SEC filing
- 🟢 TriplePoint Venture Growth (TPVG) — Strong Bullish (Cluster Buying)
- Insider: James Labe, director, officer: Chief Executive Officer
- Transaction: Purchase of 30,000 shares @ $6.46
- Value: $193.7K
- Filing: SEC filing
- 🟢 TriplePoint Venture Growth (TPVG) — Strong Bullish (Cluster Buying)
- Insider: Sajal Srivastava, director, officer: President and CIO
- Transaction: Purchase of 30,000 shares @ $6.46
- Value: $193.7K
- Filing: SEC filing
- 🔴 Rollins (ROL) — Moderate Bearish
- Insider: Thomas D Tesh, officer: Chief Admin. Officer
- Transaction: Sale of 2,396 shares @ $59.73
- Value: $143.1K
- Filing: SEC filing
- 🔴 Udemy (UDMY) — Moderate Bearish
- Insider: Sarah Blanchard, officer: Chief Financial Officer
- Transaction: Sale of 25,000 shares @ $5.25
- Value: $131.3K (about 2.1% of shares owned after)
- Filing: SEC filing
- 🟢 TriplePoint Venture Growth (TPVG) — Bullish Add-on
- Insider: James Labe, CEO
- Transaction: Purchase of 19,919 shares @ $6.64
- Value: $132.3K
- Filing: SEC filing
- 🟢 TriplePoint Venture Growth (TPVG) — Bullish Add-on
- Insider: Sajal Srivastava, President & CIO
- Transaction: Purchase of 19,919 shares @ $6.64
- Value: $132.3K
- Filing: SEC filing
- 🟢 Relmada Therapeutics (RLMD) — Moderate Bullish (Repeat Buying)
- Insider: Sergio Traversa, director, officer: Chief Executive Officer
- Transaction: Purchase of 27,500 shares @ $4.12
- Value: $113.3K (about 2.1% of shares owned after)
- Filing: SEC filing
- 🔴 Independent Bank (IBCP) — Moderate Bearish
- Insider: Patrick J Ervin, officer: Chief Lending Officer
- Transaction: Sale of 3,800 shares @ $27.35
- Value: $103.9K
- Filing: SEC filing
- 🟢 Relmada Therapeutics (RLMD) — Bullish Add-on
- Insider: Maged Shenouda, director
- Transaction: Purchase of 15,667 shares @ $3.07
- Value: $48.1K
- Filing: SEC filing
Pattern Analysis
Cluster Buying: TPVG
- 4 purchases, 0 sales on the day
- Two insiders (CEO and President/CIO) executed multiple buys, suggesting coordinated conviction rather than a one-off trade.
Repeat Buying: RLMD
- 2 purchases, 0 sales
- CEO buying alongside a director purchase is typically a higher-signal combo than a single small buy.
Sales Watchlist (context matters)
- The largest sale (AFL) represents a meaningful percentage of post-transaction holdings (~14%), making it more noteworthy than small routine trims.
Market Implications
Overall, the tape looks selectively constructive: buying is concentrated (TPVG, RLMD, a few larger single-name buys), while selling is present but not overwhelmingly dominant by count. When insider buying clusters, it can be a useful “confidence check”—but it’s still just one input alongside fundamentals, price action, and upcoming catalysts.
Key Takeaways
- Net open-market flow was positive: ~+$0.37M (buys minus sells).
- Highest-signal behavior today: cluster buying in TPVG and repeat buying in RLMD.
- Most notable sale by relative size: AFL officer sale (~14% of post-holdings).
- Ignore noise: awards/tax items can look large in value but often aren’t directional.
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