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USA Insider Trading Pulse — July 07, 2026

USA Insider Trading Pulse

By Gunpowder Editorial ·

49 high priority 1 medium priority 50 total filings analysed

Executive Summary

The 50 filings (all Form 4) for July 7, 2026, reveal a notable wave of insider selling, particularly among senior executives at Cellebrite, Dexcom, Privia Health, Miami International, Vertex, and Sony. While many sales are executed under Rule 10b5-1 plans — reducing the signal of immediate bearishness — the aggregate dollar amounts are significant (over $8M in disclosed sales).

Routine director compensation (RSU awards, option grants) and tax-withholding transactions dominate the non-sell filings, providing little directional signal. In contrast, insider purchases are minimal and isolated (Texas Pacific Land, Belden, and SPAC insider warrant acquisitions). No financial period-over-period comparisons are available from these ownership filings, so the analysis relies solely on insider transaction patterns. The overall tone is cautious, with a bearish tilt from the volume and magnitude of insider sales, though the prevalence of 10b5-1 plans tempers the urgency. The most actionable insights center on the cluster of sales at Miami International and the large option exercises followed by immediate sales, indicating potential profit-taking.

Materiality, sentiment, and priority are scored by Gunpowder’s analysis pipeline. How we score filings →

Filing types in this digest: Form 4

Tracking the trend? Catch up on the prior USA Insider Trading Pulse digest from July 06, 2026.

Investment Signals (10)

  • Cellebrite DI Ltd. ↓ (BEARISH)
    ▲

    CEO Hogan sold 103,188 shares at $15.76 (~$1.63M), a large disposal representing ~15% of his post-sale holdings. No 10b5-1 plan mentioned, raising concern.

  • Dexcom Inc. ↓ (BEARISH)
    ▲

    Executive Chair Sayer sold 26,756 shares at $72.00 (~$1.93M) under a 10b5-1 plan. While planned, the size and insider role make this a notable negative signal.

  • Privia Health Group, Inc. ↓ (BEARISH)
    ▲

    Director Morris sold 59,037 shares at $27.33 (~$1.61M) after exercising options at $2.00, all under 10b5-1. The massive profit-taking (13.7x cost) suggests bearish conviction.

  • Miami International Holdings, Inc. ↓ (BEARISH)
    ▲

    Three insiders (EVP Comly sold $1.15M, Directors Eckert $207K, Teekell $120K) all sold under 10b5-1 plans, totaling ~$1.48M. Eckert's sale followed option exercise at $12.00, locking in ~3.3x gain.

  • Vertex Pharmaceuticals Inc. ↓ (BEARISH)
    ▲

    EVP & CCO McKechnie sold 1,541 shares at $519.00 (~$800K) under 10b5-1. While small relative to market cap, the high price suggests insider view of fair value.

  • Sony Group Corp. ↓ (BEARISH)
    ▲

    CSO Mitomo sold 25,000 shares at $21.02 (~$526K) with no 10b5-1 plan noted, a direct reduction in holdings.

  • Meridian3 Industrials Acquisition Corp. ↓ (BULLISH)
    ▲

    Insiders (CEO, Director, 10% owner, CFO, CIO) collectively acquired 7.875M Private Placement Warrants at $1.00 (~$7.875M) while adjusting share positions. This signals insider confidence in the SPAC's future business combination.

  • Texas Pacific Land Corp. ↓
    ▲

    10% owner HORIZON KINETICS bought 1 share at $408.89 – trivial in value but a purchase in a stock with no other insider buying, possibly a nominal signal. [NEUTRAL/BULLISH]

  • Belden Inc. ↓ (BULLISH)
    ▲

    EVP & Chief Legal Officer Anderson bought 213 shares at $99.65 (~$21.2K), a small but voluntary open-market purchase not tied to compensation.

  • EchoStar Corp. ↓ (BEARISH)
    ▲

    Multiple directors (Orban, Dodge, Hershman, DeFranco, Ergen) had tax withholdings on option exercises, with low materiality. However, Director Hershman exercised 10,000 options at $24.49 and had 2,428 shares withheld – net gain of ~$763K, indicating profit-taking.

Risk Flags (10)

  • Cellebrite/CEO Sell-Off↓ [HIGH RISK]
    ▼

    CEO Hogan sold $1.63M with no 10b5-1 plan, reducing holdings by ~15%. This is a high-risk signal for a tech company where insider retention is key.

  • Dexcom/Chairman Selling↓ [MODERATE RISK]
    ▼

    Executive Chair Sayer's $1.93M sale under 10b5-1 may indicate planned distribution of holdings. If followed by more sales, it could weigh on the stock.

  • Privia Health/Director Profit-Taking↓ [HIGH RISK]
    ▼

    Director Morris exercised 59,037 options at $2.00 and immediately sold at $27.33, a 13.7x gain. Such dramatic profit-taking suggests the insider sees limited upside.

  • Miami International/Insider Sales Cluster↓ [MODERATE RISK]
    ▼

    Three insiders sold within the same period, all under 10b5-1, but the aggregate $1.48M may signal overvaluation or upcoming headwinds.

  • Vertex/CCO Sale at High Price↓ [LOW-MODERATE RISK]
    ▼

    EVP McKechnie sold at $519, near recent highs. While 10b5-1 planned, it may indicate the stock is fully valued.

  • Sony/CSO Direct Sale↓ [MODERATE RISK]
    ▼

    No 10b5-1 plan; CSO Mitomo sold $526K outright, which could be personal but also suggests lack of confidence.

  • Quantum Corp/CEO & CAO Sales↓ [LOW RISK]
    ▼

    CEO Meyrath sold $65.5K and CAO Nash sold $2.73K. Small amounts, but combined with no insider buying, it shows lack of bullish conviction.

  • Incyte/CEO Tax Withholding↓ [LOW RISK]
    ▼

    CEO Meury had 4,779 shares withheld for taxes ($558K), reducing holdings. While routine, repeated large withholdings can dilute insider ownership.

  • Alpha Tau Medical/CFO Sale↓ [LOW RISK]
    ▼

    CFO Levy sold 2,270 shares at $14.00 after exercising at $2.98, a 4.7x gain under 10b5-1. This is a pattern of insiders cashing out.

  • EchoStar/Director Hershman Profit-Taking↓ [MODERATE RISK]
    ▼

    Director Hershman exercised 10,000 options at $24.49 and had 2,428 shares withheld, effectively selling ~$245K worth. This is a notable insider cash-out.

Opportunities (8)

  • Meridian3 Industrials Acquisition Corp./SPAC Insider Warrants↓ (OPPORTUNITY)
    ◆

    Insiders (CEO, Director, Sponsor, CFO, CIO) acquired 7.875M private placement warrants at $1.00, a $7.875M commitment. This strong insider alignment suggests high confidence in a successful de-SPAC transaction.

  • Belden Inc./EVP Open-Market Purchase↓ (OPPORTUNITY)
    ◆

    EVP Anderson bought $21.2K at $99.65, a rare insider purchase. Belden has a strong balance sheet; this could signal undervaluation.

  • Texas Pacific Land Corp./10% Owner Purchase↓ (OPPORTUNITY)
    ◆

    Though only 1 share, the 10% owner's purchase is a positive signal. TPL has a unique land-royalty model; any insider buying is noteworthy.

  • Monarch Casino & Resort/Director Option Award↓ (OPPORTUNITY)
    ◆

    Director Taitz received 6,100 options at $131.61 (~$803K notional). Such large option grants align director interests with shareholders, especially in a casino/hospitality recovery play.

  • Inmune Bio/Executive Warrant Exercises↓ (OPPORTUNITY)
    ◆

    CEO, CSO, and Director exercised warrants at $0.13-$1.40, indicating confidence in the company's pipeline. The large holder positions (CEO 1.29M shares) suggest insider skin in the game.

  • Immunic, Inc./Director Option Awards↓ (OPPORTUNITY)
    ◆

    Two directors each received 25,370 stock options, a significant grant. This could signal upcoming catalysts (e.g., clinical trial results).

  • Clear Secure/Unparseable Filings↓ (NEUTRAL)
    ◆

    While not actionable, the neutral sentiment and low materiality suggest no insider activity, which could be seen as a lack of negative signals.

  • Progressive Corp./CFO Gift↓ (NEUTRAL)
    ◆

    CFO Quigg gifted 531 shares – a non-sale transaction. This is neutral but preferred over selling.

Sector Themes (6)

  • Tech Insider Selling Dominance (BEARISH)
    ◆

    Among tech companies (Cellebrite, Sony, Quantum, Vertex), insiders sold a combined ~$3.0M. No tech insider bought stock, indicating a sector-wide caution or profit-taking.

  • Biotech Insider Activity – Exercise and Hold
    ◆

    Inmune Bio and Immunic insiders exercised options/warrants and held shares (no sales). This contrasts with the sell pattern, potentially signaling confidence in pipeline milestones. [NEUTRAL/BULLISH]

  • SPAC Insider Reallocation to Warrants (BULLISH)
    ◆

    At Meridian3, insiders converted Class B shares and purchased private warrants, restructuring their ownership. This is a common pattern pre-business combination, signaling alignment with future performance.

  • Director and Officer Tax Withholding – Neutral Signal (NEUTRAL)
    ◆

    Many filings (EchoStar, Incyte, PAR PACIFIC) involve shares withheld for taxes. While routine, the aggregate value (~$1.1M in EchoStar alone) reduces insider holdings, which is mildly dilutive.

  • 10b5-1 Plan Sales Dominating (NEUTRAL)
    ◆

    Over 80% of significant insider sales (by value) were executed under Rule 10b5-1 plans. This reduces the urgency of the bearish signal but still indicates planned distribution.

  • Small-Cap Insider Purchases Absent (BEARISH)
    ◆

    Outside of the SPAC insider warrants, only two small-cap companies (Belden, Texas Pacific Land) had insider purchases, and both were tiny. The lack of bullish insider activity across small caps is a cautious theme.

Watch List (8)

Filing Analyses (50)
Clear Secure, Inc. 4 neutral materiality 1/10

07-07-2026

Form 4 ownership filing; the structured EDGAR document could not be retrieved for automated parsing.

Clear Secure, Inc. 4 neutral materiality 1/10

07-07-2026

Form 4 ownership filing; the structured EDGAR document could not be retrieved for automated parsing.

Palantir Technologies Inc. 4 neutral materiality 1/10

07-07-2026

Form 4 ownership filing; the structured EDGAR document could not be retrieved for automated parsing.

PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 5/10

07-07-2026

Director PATE WILLIAM was awarded 470 Restricted stock units.

  • · Director PATE WILLIAM was awarded 470 Restricted stock units
EchoStar CORP 4 neutral materiality 3/10

07-07-2026

EVP, Chief Financial Officer ORBAN PAUL W had withheld for taxes 9 Class A Common Stock at $100.88 (~$908). ORBAN PAUL W holds 50,934 shares after the transaction.

  • · EVP, Chief Financial Officer ORBAN PAUL W was awarded 297 Class A Common Stock
  • · EVP, Chief Financial Officer ORBAN PAUL W had withheld for taxes 9 Class A Common Stock at $100.88 (~$908)
EchoStar CORP 4 neutral materiality 5/10

07-07-2026

Director Dodge R Stanton had withheld for taxes 1,214 Class A Common Stock at $100.88 (~$122K). Dodge R Stanton holds 25,341 shares after the transaction.

  • · Director Dodge R Stanton exercised/converted 5,000 Class A Common Stock at $24.49 (~$122K)
  • · Director Dodge R Stanton had withheld for taxes 1,214 Class A Common Stock at $100.88 (~$122K)
  • · Director Dodge R Stanton exercised/converted 5,000 Non-Employee Director Stock Option
EchoStar CORP 4 neutral materiality 5/10

07-07-2026

Director Hershman Lisa W. had withheld for taxes 2,428 Class A Common Stock at $100.88 (~$245K). Hershman Lisa W. holds 7,572 shares after the transaction.

  • · Director Hershman Lisa W. exercised/converted 10,000 Class A Common Stock at $24.49 (~$245K)
  • · Director Hershman Lisa W. had withheld for taxes 2,428 Class A Common Stock at $100.88 (~$245K)
  • · Director Hershman Lisa W. exercised/converted 10,000 Non-Employee Director Stock Option
MAINZ BIOMED N.V. 4 neutral materiality 5/10

07-07-2026

Director O'Rourke Peter was awarded 112,859 Stock Option (Right to Buy).

  • · Director O'Rourke Peter was awarded 112,859 Stock Option (Right to Buy)
EchoStar CORP 4 neutral materiality 3/10

07-07-2026

Director DEFRANCO JAMES had withheld for taxes 16 Class A Common Stock at $100.88 (~$1.61K). DEFRANCO JAMES holds 1,870 shares after the transaction.

  • · Director DEFRANCO JAMES was awarded 198 Class A Common Stock
  • · Director DEFRANCO JAMES had withheld for taxes 16 Class A Common Stock at $100.88 (~$1.61K)
EchoStar CORP 4 neutral materiality 3/10

07-07-2026

Director ERGEN CANTEY had withheld for taxes 17 Class A Common Stock at $100.88 (~$1.71K). ERGEN CANTEY holds 2,148 shares after the transaction.

  • · Director ERGEN CANTEY was awarded 198 Class A Common Stock
  • · Director ERGEN CANTEY had withheld for taxes 17 Class A Common Stock at $100.88 (~$1.71K)
Inmune Bio, Inc. 4 neutral materiality 5/10

07-07-2026

Director Juda Scott exercised/converted 14,801 Common Stock at $1.40 (~$20.7K). Juda Scott holds 86,404 shares after the transaction.

  • · Director Juda Scott exercised/converted 14,801 Common Stock at $1.40 (~$20.7K)
  • · Director Juda Scott exercised/converted 14,801 Common Stock Purchase Warrant at $0.13 (~$1.85K)
PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 3/10

07-07-2026

Director Clossey Timothy was awarded 470 Common stock at $58.49 (~$27.5K). Clossey Timothy holds 75,932 shares after the transaction.

  • · Director Clossey Timothy was awarded 470 Common stock at $58.49 (~$27.5K)
Inmune Bio, Inc. 4 neutral materiality 5/10

07-07-2026

Chief Scientific Officer Lowdell Mark William exercised/converted 7,211 Common Stock at $1.40 (~$10.1K). Lowdell Mark William holds 1,518,017 shares after the transaction.

  • · Chief Scientific Officer Lowdell Mark William exercised/converted 7,211 Common Stock at $1.40 (~$10.1K)
  • · Chief Scientific Officer Lowdell Mark William exercised/converted 7,211 Common Stock Purchase Warrant at $0.13 (~$901)
Inmune Bio, Inc. 4 neutral materiality 6/10

07-07-2026

Chief Executive Officer Moss David J exercised/converted 9,014 Common Stock at $1.40 (~$12.6K). Moss David J holds 1,294,883 shares after the transaction.

  • · Chief Executive Officer Moss David J exercised/converted 9,014 Common Stock at $1.40 (~$12.6K)
  • · Chief Executive Officer Moss David J exercised/converted 9,014 Common Stock Purchase Warrant at $0.13 (~$1.13K)
PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 5/10

07-07-2026

Director Zell Aaron was awarded 470 Restricted stock units.

  • · Director Zell Aaron was awarded 470 Restricted stock units
PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 5/10

07-07-2026

Director ANASTASIO CURT acquired 507 Common Stock at $58.49 (~$29.7K). ANASTASIO CURT holds 111,697 shares after the transaction.

  • · Director ANASTASIO CURT acquired 507 Common Stock at $58.49 (~$29.7K)
  • · Director ANASTASIO CURT was awarded 470 Common Stock at $58.49 (~$27.5K)
  • · Director ANASTASIO CURT exercised/converted 507 Restricted stock units
PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 5/10

07-07-2026

Director SILBERMAN ROBERT S was awarded 1,026 Restricted stock units.

  • · Director SILBERMAN ROBERT S was awarded 1,026 Restricted stock units
PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 5/10

07-07-2026

Director Martinez Patricia was awarded 470 Restricted stock units.

  • · Director Martinez Patricia was awarded 470 Restricted stock units
PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 5/10

07-07-2026

Director YEAMAN ERIC K was awarded 470 Restricted stock units.

  • · Director YEAMAN ERIC K was awarded 470 Restricted stock units
PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 3/10

07-07-2026

Director Hatcher Katherine was awarded 470 Common stock at $58.49 (~$27.5K). Hatcher Katherine holds 40,415 shares after the transaction.

  • · Director Hatcher Katherine was awarded 470 Common stock at $58.49 (~$27.5K)
Prenetics Global Ltd 4 neutral materiality 5/10

07-07-2026

Director Leogrande Hudson Blake exercised/converted 2,000 Class A Ordinary Share, par value $0.0015 per share. Leogrande Hudson Blake holds 2,000 shares after the transaction.

  • · Director Leogrande Hudson Blake exercised/converted 2,000 Class A Ordinary Share, par value $0.0015 per share
  • · Director Leogrande Hudson Blake exercised/converted 2,000 Restricted Stock Unit
PAR PACIFIC HOLDINGS, INC. 4 neutral materiality 5/10

07-07-2026

Director Davidson Phillip S acquired 461 Common stock at $58.49 (~$27K). Davidson Phillip S holds 9,465 shares after the transaction.

  • · Director Davidson Phillip S acquired 461 Common stock at $58.49 (~$27K)
  • · Director Davidson Phillip S was awarded 470 Restricted stock units
  • · Director Davidson Phillip S exercised/converted 461 Restricted stock units
Cellebrite DI Ltd. 4 negative materiality 6/10

07-07-2026

Chief Executive Officer Hogan Thomas E. sold 103,188 Ordinary shares, par value NIS 0.00001 at $15.76 (~$1.63M). Hogan Thomas E. holds 590,777 shares after the transaction.

  • · Chief Executive Officer Hogan Thomas E. sold 103,188 Ordinary shares, par value NIS 0.00001 at $15.76 (~$1.63M)
Alpha Tau Medical Ltd. 4 negative materiality 4/10

07-07-2026

Chief Financial Officer Levy Raphi sold 2,270 Ordinary Shares at $14.00 (~$31.8K). Levy Raphi holds 90,180 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Chief Financial Officer Levy Raphi exercised/converted 2,270 Ordinary Shares at $2.98 (~$6.76K)
  • · Chief Financial Officer Levy Raphi sold 2,270 Ordinary Shares at $14.00 (~$31.8K)
Sony Group Corp 4 negative materiality 5/10

07-07-2026

Chief Strategy Officer (CSO) Mitomo Toshimoto sold 25,000 Common Stock at $21.02 (~$526K). Mitomo Toshimoto holds 115,700 shares after the transaction.

  • · Chief Strategy Officer (CSO) Mitomo Toshimoto sold 25,000 Common Stock at $21.02 (~$526K)
C & F FINANCIAL CORP 4 neutral materiality 3/10

07-07-2026

Director Kelley Elizabeth R acquired by will/inheritance 217 Common Stock. Kelley Elizabeth R holds 4,239 shares after the transaction.

  • · Director Kelley Elizabeth R acquired by will/inheritance 217 Common Stock
PROGRESSIVE CORP/OH/ 4 neutral materiality 3/10

07-07-2026

VP and Chief Financial Officer Quigg Andrew J gifted 531 Common. Quigg Andrew J holds 39,095.185 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · VP and Chief Financial Officer Quigg Andrew J gifted 531 Common
Texas Pacific Land Corp 4 positive materiality 2/10

07-07-2026

10% owner HORIZON KINETICS ASSET MANAGEMENT LLC bought 1 Common Stock at $408.89 (~$409). HORIZON KINETICS ASSET MANAGEMENT LLC holds 3,263,669 shares after the transaction.

  • · 10% owner HORIZON KINETICS ASSET MANAGEMENT LLC bought 1 Common Stock at $408.89 (~$409)
Meridian3 Industrials Acquisition Corp 4 neutral materiality 6/10

07-07-2026

Director Bulley David Robert acquired 3,750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$3.75M). 5 transactions reported in total.

  • · Director Bulley David Robert disposed of 2,381,250 Class B Ordinary Shares at $0.01 (~$11.9K)
  • · Director Bulley David Robert acquired 793,750 Class B Ordinary Shares at $0.01 (~$3.97K)
  • · Director Bulley David Robert acquired 3,750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$3.75M)
  • · Director Bulley David Robert disposed of 750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$750K)
  • · Director Bulley David Robert acquired 250,000 Private Placement Warrants (Right to Buy) at $1.00 (~$250K)
Meridian3 Industrials Acquisition Corp 4 neutral materiality 7/10

07-07-2026

Chief Executive Officer Mistry Faramaraz Jeremey acquired 3,750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$3.75M). 5 transactions reported in total.

  • · Chief Executive Officer Mistry Faramaraz Jeremey disposed of 2,381,250 Class B Ordinary Shares at $0.01 (~$11.9K)
  • · Chief Executive Officer Mistry Faramaraz Jeremey acquired 793,750 Class B Ordinary Shares at $0.01 (~$3.97K)
  • · Chief Executive Officer Mistry Faramaraz Jeremey acquired 3,750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$3.75M)
  • · Chief Executive Officer Mistry Faramaraz Jeremey disposed of 750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$750K)
  • · Chief Executive Officer Mistry Faramaraz Jeremey acquired 250,000 Private Placement Warrants (Right to Buy) at $1.00 (~$250K)
Meridian3 Industrials Acquisition Corp 4 neutral materiality 5/10

07-07-2026

Director Speth Ralf acquired 125,000 Private Placement Warrants (Right to Buy) at $1.00 (~$125K).

  • · Director Speth Ralf acquired 396,875 Class B Ordinary Shares at $0.01 (~$1.98K)
  • · Director Speth Ralf acquired 125,000 Private Placement Warrants (Right to Buy) at $1.00 (~$125K)
BELDEN INC. 4 neutral materiality 3/10

07-07-2026

EVP - Chief Legal Officer Anderson Brian Edward acquired 213 Common Stock at $99.65 (~$21.2K). Anderson Brian Edward holds 47,491 shares after the transaction.

  • · EVP - Chief Legal Officer Anderson Brian Edward acquired 213 Common Stock at $99.65 (~$21.2K)
MONARCH CASINO & RESORT INC 4 neutral materiality 6/10

07-07-2026

Director Taitz Hope S was awarded 6,100 Option/Right to Buy at $131.61 (~$803K).

  • · Director Taitz Hope S was awarded 6,100 Option/Right to Buy at $131.61 (~$803K)
Meridian3 Industrials Acquisition Corp 4 neutral materiality 6/10

07-07-2026

Chief Financial Officer FOSTER JEFFREY H acquired 125,000 Private Placement Warrants (Right to Buy) at $1.00 (~$125K).

  • · Chief Financial Officer FOSTER JEFFREY H acquired 396,875 Class B Ordinary Shares at $0.01 (~$1.98K)
  • · Chief Financial Officer FOSTER JEFFREY H acquired 125,000 Private Placement Warrants (Right to Buy) at $1.00 (~$125K)
Meridian3 Industrials Acquisition Corp 4 neutral materiality 6/10

07-07-2026

10% owner Meridian3 Partners Sponsor LLC acquired 3,750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$3.75M).

  • · 10% owner Meridian3 Partners Sponsor LLC disposed of 2,381,250 Class B Ordinary Shares, par value $0.0001 per share at $0.01 (~$11.9K)
  • · 10% owner Meridian3 Partners Sponsor LLC acquired 3,750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$3.75M)
  • · 10% owner Meridian3 Partners Sponsor LLC disposed of 750,000 Private Placement Warrants (Right to Buy) at $1.00 (~$750K)
Meridian3 Industrials Acquisition Corp 4 neutral materiality 5/10

07-07-2026

Chief Investment Officer Berger Stefan acquired 125,000 Private Placement Warrants (Right to Buy) at $1.00 (~$125K).

  • · Chief Investment Officer Berger Stefan acquired 396,875 Class B Ordinary Shares at $0.01 (~$1.98K)
  • · Chief Investment Officer Berger Stefan acquired 125,000 Private Placement Warrants (Right to Buy) at $1.00 (~$125K)
INCYTE CORP 4 neutral materiality 2/10

07-07-2026

Principal Accounting Officer Tray Thomas had withheld for taxes 477 Common Stock at $116.86 (~$55.7K). Tray Thomas holds 20,655 shares after the transaction.

  • · Principal Accounting Officer Tray Thomas had withheld for taxes 477 Common Stock at $116.86 (~$55.7K)
IMMUNIC, INC. 4 neutral materiality 5/10

07-07-2026

Director Rudick Richard Alan was awarded 25,370 Stock Option.

  • · Director Rudick Richard Alan was awarded 25,370 Stock Option
NETSOL TECHNOLOGIES INC 4 neutral materiality 2/10

07-07-2026

Director FARSAI MALEA reported beneficial ownership in NETSOL TECHNOLOGIES INC. 1 position reported.

  • · Holds 39,811 Common Stock (direct)
MIAMI INTERNATIONAL HOLDINGS, INC. 4 negative materiality 3/10

07-07-2026

Director Teekell Judson Gray sold 3,000 Common Stock at $40.00 (~$120K). Teekell Judson Gray holds 75,251 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Director Teekell Judson Gray sold 3,000 Common Stock at $40.00 (~$120K)
QUANTUM CORP /DE/ 4 negative materiality 3/10

07-07-2026

Chief Accounting Officer Nash Laura A. sold 260 Common Stock at $10.51 (~$2.73K). Nash Laura A. holds 10,770 shares after the transaction.

  • · Chief Accounting Officer Nash Laura A. sold 260 Common Stock at $10.51 (~$2.73K)
DEXCOM INC 4 negative materiality 4/10

07-07-2026

Executive Chair SAYER KEVIN R sold 26,756 Common Stock at $72.00 (~$1.93M). SAYER KEVIN R holds 355,726 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Executive Chair SAYER KEVIN R sold 26,756 Common Stock at $72.00 (~$1.93M)
INCYTE CORP 4 neutral materiality 5/10

07-07-2026

Chief Executive Officer Meury William had withheld for taxes 4,779 Common Stock at $116.86 (~$558K). Meury William holds 156,322 shares after the transaction.

  • · Chief Executive Officer Meury William had withheld for taxes 4,779 Common Stock at $116.86 (~$558K)
MIAMI INTERNATIONAL HOLDINGS, INC. 4 negative materiality 6/10

07-07-2026

Director Eckert Kurt M. sold 5,250 Common Stock at $39.35 (~$207K). Eckert Kurt M. holds 149,612 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Director Eckert Kurt M. exercised/converted 5,250 Common Stock at $12.00 (~$63K)
  • · Director Eckert Kurt M. sold 5,250 Common Stock at $39.35 (~$207K)
  • · Director Eckert Kurt M. exercised/converted 5,250 Stock Option (Right to Buy)
Privia Health Group, Inc. 4 negative materiality 7/10

07-07-2026

Director Morris Matthew Shawn sold 59,037 Common Stock, par value $0.01 per share at $27.33 (~$1.61M). 6 transactions reported in total. Morris Matthew Shawn holds 68,188 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · Director Morris Matthew Shawn exercised/converted 59,037 Common Stock, par value $0.01 per share at $2.00 (~$118K)
  • · Director Morris Matthew Shawn sold 59,037 Common Stock, par value $0.01 per share at $27.33 (~$1.61M)
  • · Director Morris Matthew Shawn exercised/converted 53,722 Common Stock, par value $0.01 per share at $2.00 (~$107K)
  • · Director Morris Matthew Shawn sold 53,722 Common Stock, par value $0.01 per share at $27.24 (~$1.46M)
  • · Director Morris Matthew Shawn exercised/converted 59,037 Stock Option (Right to Purchase)
  • · Director Morris Matthew Shawn exercised/converted 53,722 Stock Option (Right to Purchase)
QUANTUM CORP /DE/ 4 negative materiality 4/10

07-07-2026

President & CEO Meyrath Hugues sold 6,232 Common Stock at $10.51 (~$65.5K). Meyrath Hugues holds 118,468 shares after the transaction.

  • · President & CEO Meyrath Hugues sold 6,232 Common Stock at $10.51 (~$65.5K)
INCYTE CORP 4 neutral materiality 3/10

07-07-2026

CMO & Head of Late-Stage Dev. Stein Steven H had withheld for taxes 2,177 Common Stock at $116.86 (~$254K). Stein Steven H holds 76,150 shares after the transaction.

  • · CMO & Head of Late-Stage Dev. Stein Steven H had withheld for taxes 2,177 Common Stock at $116.86 (~$254K)
VERTEX PHARMACEUTICALS INC / MA 4 negative materiality 4/10

07-07-2026

EVP, Chief Commercial Officer McKechnie Duncan sold 1,541 Common Stock at $519.00 (~$800K). McKechnie Duncan holds 11,001 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · EVP, Chief Commercial Officer McKechnie Duncan sold 1,541 Common Stock at $519.00 (~$800K)
MIAMI INTERNATIONAL HOLDINGS, INC. 4 negative materiality 5/10

07-07-2026

EVP, GC & Corporate Secretary Comly Barbara J. sold 28,000 Common Stock at $41.22 (~$1.15M). Comly Barbara J. holds 882,984 shares after the transaction. Trades executed under a Rule 10b5-1 plan.

  • · EVP, GC & Corporate Secretary Comly Barbara J. exercised/converted 28,000 Common Stock at $12.00 (~$336K)
  • · EVP, GC & Corporate Secretary Comly Barbara J. sold 28,000 Common Stock at $41.22 (~$1.15M)
  • · EVP, GC & Corporate Secretary Comly Barbara J. exercised/converted 28,000 Nonqualified Stock Option (Right to Buy)
IMMUNIC, INC. 4 neutral materiality 5/10

07-07-2026

Director PHILLIPS BARCLAY A was awarded 25,370 Stock Option.

  • · Director PHILLIPS BARCLAY A was awarded 25,370 Stock Option

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