Interim CEO Garold Spindler sold 159,502 shares across 4 transactions for $598,809.45, reducing stake by 58.5% at company with $-318.6M net income
Garold Spindler, serving as Interim CEO, executed 4 separate sales totaling 159,502 shares (159.5K shares) for $598,809.45 ($598.8K) at a blended average price of $3.75, reducing his holdings from 272,669 shares to 113,167 shares—a 58.5% reduction in stake. This multi-transaction liquidation occurs against a backdrop of material operating deterioration: the company posted a net loss of $318.6M in its latest full fiscal year and revenue declined 22.2% year-over-year, though the quarterly revenue was $467.2M ($467,192,000.00). The concentration of sales at depressed prices ($2.44 per share in two of the four transactions) combined with the dramatic reduction in an interim executive's ownership stake warrants investor attention to underlying operational health and leadership stability.