CEO Farley exercises 160K shares in April, then divests nearly entire position with four sales totaling $3.5M in May.
CEO Farley Thomas W exercised stock options for 160,000 shares across two tranches in April, then liquidated nearly his entire position on a single day in May through four sequential sales at prices ranging from approximately $42 to $45 per share. This represents a striking reversal from option exercise to rapid divestiture—he added shares through compensation, then immediately sold off 80,000 of them, leaving a net gain of 80,000 shares but no meaningful open-market holdings retention. His prior three sales at this company all preceded stock gains, meaning he has been poorly timed on every exit attempt; this latest four-part sale arrives as the stock trades well below its 52-week high after a recent rally. As CEO, Farley holds material knowledge of the business, yet his decision to exercise options and sell within weeks—rather than hold into strength—stands out as distinct from typical executive accumulation patterns. The scale of the liquidation and the poor historical timing of his sales suggest caution may be warranted regardless of the company's fundamental standing.