Insider Trading Signals — December 5, 2025 — Daily Snapshot

Executive Summary

Insider activity filed on December 5, 2025 shows a bearish tilt in dollar terms, even though purchases outnumber sales by count (9 buys vs. 3 sells). A handful of sizeable sales at KEYS, NGS and NXPI dominate the dollar flows, producing roughly -$1.67M in net selling when comparing open-market purchases to open-market sales.

On the bullish side, there is targeted buying by CEOs and 10% owners in names like NRDY, CVM, EP and RDZN, plus a tiny but symbolic add at TPL. Meanwhile, dense clusters of transactions in PG, FERG and MURA are driven mostly by awards, tax withholding and “D-Return” dispositions, which are more structural than directional.

Overall tone: net bearish in dollars, but with a few high-conviction insiders quietly adding to positions.

Activity Breakdown

By transaction type (all dollar values from today’s filings):

Net Signal (P vs S only):

• Purchases (P): $284.8K
• Sales (S): $1.96M
• Net Insider Flow: -$1.67M → Dollar-weighted bearish, driven by three large sales.

Awards (A), tax transactions (F), option exercises (M) and gifts/other codes (G, J) are mostly compensation, tax or administrative flows, not directional bets.

Top Notable Transactions

1. 🔴 Keysight Technologies (KEYS) — Strong Bearish Signal
   • Insider: Jeffrey K. Li, SVP and Secretary
   • Transaction: Sale of 3,934 shares @ $200.84
   • Value: $790.1K, shares owned after: 36,699.15
   • Context: A sizable discretionary sale by a senior officer, representing a meaningful cash-out while still leaving a large remaining stake.
   • SEC: Form 4 filing
2. 🔴 Natural Gas Services Group (NGS) — Strong Bearish Signal
   • Insider: Stephen Charles Taylor, Director
   • Transaction: Sale of 20,000 shares @ $32.12
   • Value: $642.4K, shares owned after: 295,432
   • Context: A large director-level sale that trims, but does not liquidate, a substantial holding.
3. 🔴 / 🟢 NXP Semiconductors (NXPI) — Mixed Signals
   • Bearish leg: Christopher L. Jensen, EVP & Chief People Officer
     • Sale of 2,300 shares @ $228.17 → $524.8K, shares after: 9,965
     • SEC: Form 4 (sale)
   • Bullish leg: Julie Southern, Director & Chair
     • Purchase of 225 shares @ $225.48 → $50.7K, shares after: 11,937
     • SEC: Form 4 (purchase)
   • Signal: Dollar flow is net negative (~-$474K), but the Chair stepping in to buy while an executive sells creates a nuanced, mixed picture rather than a one-way bearish story.
4. 🟢 Nerdy Inc. (NRDY) — Strong Bullish Signal
   • Insider: Charles K. Cohn, CEO, director & 10% owner
   • Transaction: Purchase of 90,000 shares @ $1.34
   • Value: $120.6K, shares owned after: 31,234,951 (indirect)
   • Context: A high-signal open-market buy by the top decision-maker and major shareholder, increasing an already huge stake.
   • SEC: Form 4
5. 🟢 CEL-SCI Corporation (CVM) — Strong Bullish Signal
   • Insider: Geert R. Kersten, CEO & Director
   • Transaction: Purchase of 8,389 shares @ $5.96
   • Value: $50.0K, shares owned after: 81,794
   • Context: A CEO adding to personal holdings in meaningful size, a classic conviction buy.
   • SEC: Form 4
6. 🟢 EP Energy (EP) — Moderate Bullish Signal
   • Insider: Phil E. Mulacek, Director & 10% Owner
   • Transaction: Purchase of 7,223 shares @ ~$3.00
   • Value: $21.7K, shares owned after: 6,161,481
   • Context: An already large holder incrementally adding; moderate in size relative to stake but still a positive directional move.
   • SEC: Form 4
7. 🟢 Blue Bird Corporation (BLBD) — Moderate Bullish Signal
   • Insider: Daniel Mark Thau, Director
   • Transaction: Purchase of 400 shares @ $51.05
   • Value: $20.4K, shares owned after: 6,099
   • Context: A modest director purchase; small in absolute size but a clean, open-market buy.
   • SEC: Form 4
8. 🟢 Radiant Logistics (RDZN) — Moderate Bullish Signal
   • Insider: Rohan Malhotra, Director, 10% owner, officer
   • Transaction: Purchase of 10,000 shares @ $1.71
   • Value: $17.1K, shares owned after: 829,837
   • Context: Combined director/10% owner/officer profile gives this otherwise small dollar trade extra signaling power.
   • SEC: Form 4
9. 🟢 Medalist Diversified REIT (MDRR) — Weak but Persistent Bullish Signal
   • Insider: Charles Brent Winn Jr., CFO
   • Transactions:
     • 140 shares @ $13.497 → $1.9K
     • 112 shares @ $13.33 → $1.5K
   • Combined value: $3.4K, shares owned after: ~54.8K
   • Context: Tiny in dollar terms, but consecutive purchases by the CFO suggest steady, if small-scale, confidence.
   • SEC: Form 4
10. ⚪ Procter & Gamble (PG) — Neutral Compensation & Tax Flows
    • Insiders: Multiple officers (e.g., Health Care CEO and others)
    • Transaction mix: 6 F (tax withholding), 5 M (exercises), 4 A (awards)
    • Dollar values: Tax and exercise legs in the single-digit thousands per filing
    • Context: This dense cluster in PG is almost entirely plan-driven: stock awards vesting, options exercised, and shares withheld for taxes, rather than fresh directional bets.
    • SEC example: Form 4
11. ⚪ Ferguson plc (FERG) — Neutral Awards & Tax Withholding
    • Insiders: Multiple directors
    • Transactions: 9 A-type awards, 2 F-type tax withholdings ~ $69.9K each
    • Context: Large dollar numbers appear in the tax lines, but all related to equity compensation mechanics, not open-market buying or selling.
    • SEC example: Form 4
12. ⚪ / Slightly Bearish Mural Oncology (MURA) — Structured Return Cluster
    • Insiders: Several directors and executives
    • Transactions: 9 D-Return dispositions, many in the $200–460K range each
    • Context: These are coded as “D-Return” transactions — shares returned to the issuer rather than open-market sales. Economically they reduce insider positions, but they look more structural than opportunistic.
    • SEC example: Form 4

Pattern Analysis

1. Dollar Flows: Few Big Sales vs. Many Smaller Buys

• Only 3 sales (S), but they total $1.96M, dominated by KEYS, NGS and NXPI.
• 9 purchases (P) add up to $284.8K, spread across 10% owners, CEOs and directors.
• Net effect: a small group of high-value sellers outweighs a broader base of modest buyers.

2. High-Conviction Insider Buying in Smaller Names

• NRDY, CVM, EP, RDZN and MDRR all see buys by CEOs, CFOs, directors or 10% owners.
• Dollar sizes are mostly in the $17K–$120K range, but the roles involved (top executives and control shareholders) give these trades above-average signal weight.
• Net insider buying by ticker (P minus S) is positive in:
  • NRDY (~$120.6K)
  • CVM (~$50.0K)
  • EP (~$21.7K)
  • BLBD (~$20.4K)
  • RDZN (~$17.1K)
  • plus smaller adds in MDRR and TPL.

3. Mixed Story at NXPI

• One senior executive sells ~$525K, while a board-level insider (Chair) buys ~$51K.
• This combination keeps net flow clearly negative, but it also shows at least one high-level insider stepping in on the buy side, softening the bearish read.

4. Structural vs. Directional Activity

• PG and FERG: Activity is dominated by awards (A), tax withholding (F), and option exercises (M). These lifecycle events are neutral for signal analysis.
• MURA’s D-Return cluster: Economically reduces insider exposure, but the form suggests programmatic returns rather than classic open-market selling.

5. Role-Weighted Signals

• Highest signal strength today comes from:
  • CEO / 10% owner buys (NRDY, CVM, EP, RDZN).
  • Senior officer sale at KEYS (SVP & Secretary).
• Lower signal:
  • Small incremental buys (MDRR CFO, TPL 10% owner).
  • Compensation and tax mechanics (PG, FERG).
  • “D-Return” and “J-Other” coded events, which are harder to interpret as clean directional bets.

Sector & Theme Snapshot (Proxy View)

The filings do not explicitly label sectors, but the concentration by ticker hints at a few themes:

• Household-name large cap: PG shows heavy compensation-driven activity, not directional trades.
• Capital-intensive / industrial & energy names (e.g., FERG, NGS, EP, MURA) appear on both the buy and structural disposition side.
• Tech and semiconductor exposure via KEYS and NXPI shows net dollar outflow, though NXPI’s board-level buy tempers the tone a bit.

The net result: more selling pressure in higher-profile, larger-cap names, and more insider buying in smaller, less widely followed stories.

Market Implications

Insider flows today suggest selective confidence at the smaller end of the market and some profit-taking or de-risking in larger, better-known names.

• The negative net dollar flow (~-$1.67M) is heavily influenced by just three large sales, so the headline number may look more bearish than the underlying participation by role and count.
• CEO and 10% owner purchases in NRDY, CVM, EP and RDZN indicate that some leaders view their current prices as attractive entry or add points, even as the broader tape sees senior officers locking in gains elsewhere.
• The structural nature of PG, FERG and much of MURA’s activity reminds us that not every Form 4 tells a directional story—many simply reflect the mechanics of equity compensation and capital structure.

For traders who track insider activity, today’s snapshot leans toward:

• Cautious on names with large senior-level sales (KEYS, NGS, NXPI),
• Curious and watchful on smaller names with insider accumulation (NRDY, CVM, EP, RDZN, MDRR),
  while treating PG, FERG and MURA as mostly structural noise unless the pattern changes.

Key Takeaways

• Net insider dollars skew bearish today: three large sales overpower a larger count of modest buys.
• Most meaningful buys come from CEOs, CFOs and 10% owners in smaller-cap names, showing targeted conviction rather than broad risk-on.
• NXPI is a genuine mixed signal, with a sizeable executive sale and a smaller Chair-level purchase on the other side.
• PG and FERG activity is overwhelmingly compensation-driven, with awards, exercises and tax withholding dominating.
• MURA’s D-Return cluster reduces insider exposure but looks more structural than opportunistic.
• As always, size relative to total holdings and the insider’s role matters more than the headline dollar figure alone.

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This is not financial advice. Insider transactions can have many motivations beyond stock outlook.
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