Insider Trading Signals — December 17, 2025 — Daily Snapshot

Executive Summary
Insider activity leaned bearish today with 8 sales versus 5 purchases, reflecting typical year-end portfolio management. The most significant transactions were dominated by routine equity compensation activity, particularly at Raymond James Financial (RJF), where multiple C-suite executives processed tax withholdings on vested shares. Open-market purchase activity remained limited, with only a handful of notable buying transactions, primarily in smaller-cap names.

Activity Breakdown

Net Signal: Bearish (5 buys vs 8 sells, $-3106918 net)

Top Notable Transactions

1. 🔴 CCK - Moderate Bearish Signal

   • Insider: NOVAES DJALMA JR, officer: EVP & COO
   • Transaction: S-Sale of 19,754 shares @ $101.02
   • Value: $2.0M
   • Context: Significant sale may reflect portfolio rebalancing or liquidity needs.

2. 🔴 IP - Weak Bearish Signal

   • Insider: Ellis Clay R, officer: Senior Vice President
   • Transaction: S-Sale of 18,819 shares @ $36.85
   • Value: $693K
   • Context: Significant sale may reflect portfolio rebalancing or liquidity needs.

3. ⚪ HURA - Neutral

   • Insider: Bianco James A., director, officer: Chief Executive Officer
   • Transaction: A-Award of 3,414,891 shares
   • Value: $3.5M
   • Context: Equity compensation award per employment agreement (neutral).

4. ⚪ OSK - Neutral

   • Insider: Field Matthew, officer: Exec. VP & CFO
   • Transaction: D-Return of 7,244 shares
   • Value: $931K
   • Context: D-Return transaction.

5. 🟢 NRDY - Moderate Bullish Signal

   • Insider: Cohn Charles K., director, 10 percent owner, officer: Chief Executive Officer
   • Transaction: P-Purchase of 174,076 shares @ $1.36
   • Value: $237K
   • Context: Open-market purchase by insider shows confidence in company prospects.

6. 🔴 vicr - Neutral

   • Insider: Gusinov Alex, officer: Corp. Vice President Eng.
   • Transaction: S-Sale of 3,844 shares @ $97.31
   • Value: $374K
   • Context: Routine sale transaction.

7. ⚪ HURA - Neutral

   • Insider: Dearborn Dan, officer: Chief Financial Officer
   • Transaction: A-Award of 1,531,367 shares
   • Value: $1.6M
   • Context: Equity compensation award per employment agreement (neutral).

8. ⚪ RJF - Neutral

   • Insider: Curtis Scott A, officer: Chief Operating Officer
   • Transaction: F-InKind of 10,485 shares
   • Value: $1.7M
   • Context: Tax withholding on vested equity compensation (neutral, required transaction).

9. 🔴 CLH - Neutral

   • Insider: GERSTENBERG ERIC W, officer: CO-CEO
   • Transaction: S-Sale of 601 shares @ $240.90
   • Value: $145K
   • Context: Routine sale transaction.

10. ⚪ RJF - Neutral

• Insider: Bunn James E, officer: President, Capital Markets
• Transaction: F-InKind of 5,312 shares
• Value: $870K
• Context: Tax withholding on vested equity compensation (neutral, required transaction).

11. 🔴 CWAN - Neutral

• Insider: Cox James S, officer: Chief Financial Officer
• Transaction: S-Sale of 5,000 shares @ $21.34
• Value: $107K
• Context: Routine sale transaction.

12. ⚪ RJF - Neutral

• Insider: Shoukry Paul M, director, officer: CEO
• Transaction: F-InKind of 2,142 shares
• Value: $351K
• Context: Tax withholding on vested equity compensation (neutral, required transaction).

13. 🔴 ESP - Neutral

• Insider: HELMETAG CARL, director
• Transaction: S-Sale of 1,000 shares @ $44.99
• Value: $45K
• Context: Routine sale transaction.

14. ⚪ RJF - Neutral

• Insider: Allaire Bella Loykhter, officer: Chief Admin Officer
• Transaction: F-InKind of 1,574 shares
• Value: $258K
• Context: Tax withholding on vested equity compensation (neutral, required transaction).

15. 🟢 DTIL - Weak Bullish Signal

• Insider: Germano Geno J, director
• Transaction: P-Purchase of 3,000 shares @ $4.72
• Value: $14K
• Context: Open-market purchase by insider shows confidence in company prospects.

Pattern Analysis

Raymond James Financial (RJF) Cluster Activity (30 transactions)

• Net Signal: Neutral (compensation-related)
• Context: Multiple C-suite executives and senior officers processed equity compensation transactions, including tax withholdings on vested shares, awards, and gifts
• Details: Large volume of Form 4 filings reflects coordinated year-end equity compensation vesting
• Implication: Routine activity, not indicative of directional views on stock

Open-Market Purchase Activity (5 transactions)

• Net Signal: Bullish
• Total Value: $281K
• Context: Insiders allocating personal capital shows some confidence

Insider Sales (8 transactions)

• Net Signal: Bearish to Neutral
• Total Value: $3.4M
• Context: Sales likely reflect routine portfolio management and year-end tax planning

Sector Breakdown

Financials (Raymond James Financial - RJF)

• Transactions: 30
• Notable: Heavy equity compensation activity across C-suite
• Signal: Neutral (compensation-related)

Technology/Other

• Transactions: 47
• Notable: Scattered activity across smaller-cap names
• Signal: Mixed

Market Implications

Today's insider activity was dominated by routine equity compensation transactions at Raymond James Financial, where multiple senior executives processed tax withholdings and awards on vested shares. This coordinated activity reflects standard year-end compensation practices rather than any directional view on the stock.

Open-market purchase activity remained subdued, with only a handful of small transactions. The limited buying interest from corporate insiders may reflect typical year-end patterns, where many executives are restricted from trading due to blackout periods ahead of year-end earnings announcements. The lack of meaningful purchase activity suggests insiders are not seeing compelling entry points at current valuations.

The modest selling activity appears routine, with no large discretionary sales by senior executives that would signal concern about near-term prospects. Overall, today's insider trading activity provides limited actionable signals, with most transactions being compensation-related and neutral from a market timing perspective.

Key Takeaways

• Limited actionable signals: Most activity was compensation-related, not open-market transactions
• Year-end patterns: Heavy tax withholding and award activity typical for mid-December
• Subdued buying: Few open-market purchases suggests insiders not aggressively adding to positions
• No major red flags: Absence of large discretionary sales by senior executives
• Watch for year-end filings: Expect increased Form 4 activity as companies process year-end equity compensation

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