Director Fairbanks sells 1,170,000 shares (79% of holdings) at $21.18 for $24.8M on 2026-03-26
Director Jonathan B. Fairbanks executed 5 separate sales totaling 1,170,000 shares at $21.18 on 2026-03-26, generating $24,774,750.02 and reducing his position from 1,481,396 shares to 311,396 shares—a -79.0% reduction. The sales occurred at $21.18, above the current price of $20.45 but 21.3% below the 52-week high of $25.98. The timing is notable: Fairbanks had already filed 5 separate sells on 2026-03-23 (outcomes not yet measurable), and this filing on 2026-03-26 suggests a concentrated liquidation pattern within days. His cross-ticker track record shows a 0% 90-day win rate on 5 prior sells, meaning prior sales were not well-timed (the stock subsequently rose). At FLOC specifically, all 5 prior trades were sells on 2026-03-23, with outcomes still pending. The company reports strong fundamentals (revenue $176.9M, +41.9% annual growth, P/E 13.37, $12.5M net income), which does not align with distress-driven selling. The concentrated divestiture—a near-complete exit in multiple tranches—merits scrutiny regarding material information asymmetry or liquidity events not disclosed in the Form 4 itself.