MRCY MERCURY SYSTEMS INC Insider Trading

JANA Partners liquidates 452,057 shares (9.9% stake reduction) at avg $91.61, netting $41.4M across 3 sales in March 2026

JANA Partners Management, LP, a director at Mercury Systems, conducted 3 separate sales totaling 452,057 shares for $41,412,245.58 over March 2–4, 2026, reducing holdings from 4.57M to 4.11M shares (−9.9%). The blended average sale price of $91.61 occurred as the stock traded near the low end of its 52-week range, currently at $89.18 (−13.4% from the 52-week high of $103.02). Mercury Systems reported negative net income of $-15,095,000.00 on revenue of $232,872,000.00 in the latest quarter and was unprofitable over its most recent full fiscal year, creating a backdrop of financial stress. Examining JANA's prior sales at Mercury Systems specifically: the insider has executed 5 prior sales on this ticker, achieving negative 90-day returns in only 0 of 4 measurable outcomes, meaning all 4 prior sales were followed by stock gains—a pattern of poor sell timing at this specific holding. The current sale's timing relative to near-52-week-low pricing and deteriorating profitability, set against the prior track record of unfavorable exits at this ticker, presents a material signal warranting scrutiny of the underlying business trajectory.

JANA Partners (MRCY Director) sells 400,000 shares ($32.4M) at $81.00; stock down 22.0% from 52-week high, unprofitable company.

JANA Partners sold 400,000 shares of MERCURY SYSTEMS for $32,400,000.00 at $81.00 on 2026-02-09, reducing its stake by 8.1% to 4,566,675 shares. The sale occurs as the stock trades 22.0% below its 52-week high and has declined 17.2% over the prior 30 days, while the underlying company reported a net loss of $-15,095,000.00 in its most recent quarter despite revenue growth of 9.2% annually. JANA's prior five trades at MERCURY SYSTEMS show a mixed timing pattern: three consecutive sales in May and August 2025 captured strong 30-day gains (+14.8%, +15.8%, +10.4%), but only 1 of 5 prior trades were well-timed at the 90-day mark, and the most recent sale on 2025-11-06 saw the stock decline just 6.4% over 30 days before rising. This sale represents a material reduction in exposure from a significant shareholder, occurring in an environment of both price weakness and operating losses.

Director JANA Partners sold 1,000,000 shares of MRCY at $75.45 ($75.4M); post-sale stake 4.97M shares, -16.8% reduction.

JANA Partners Management, LP sold 1,000,000 shares at $75.45, reducing its stake from 5.97M to 4.97M shares in a single transaction. The sale occurred near the stock's recent range with the current price at $74.65, about 11 days post-transaction. At MRCY specifically, JANA has executed 5 prior trades: two recent sells (May 2025 and August 2025) and two earlier buys (2024), with a 50% timing success rate at the 90-day mark. The broader cross-ticker track record shows only 3 prior sales with a 0% well-timed rate (average 90d return +15.6%), indicating JANA's past sales typically preceded stock appreciation rather than declines. Mercury Systems is currently unprofitable on a full-year basis despite +9.2% annual revenue growth, making the financial context a factor in evaluating the sale's significance.

MRCY CEO Ballhaus sells 23,445 shares at $65.37 avg for $1.5M; stock up 23.2% in 30 days, 37.6% in 90 days

Ballhaus sold 2 separate tranches (10,395 shares at $66.52 and 13,050 shares at $64.46) totaling $1,532,692.14, reducing his holdings by 5.9% to 374,976 shares. The stock has surged 23.2% over the prior 30 days and 37.6% over the prior 90 days, though it remains 5.6% below its 52-week high. Critically, MRCY is unprofitable: the latest quarter showed a net loss of $19.2M on $211.4M revenue, and the company recorded a negative full-year net income. The elevated P/E of 111.28 reflects the market is pricing in substantial future profits, yet historical execution at this ticker is mixed—his 3 prior buys here showed only 1 of 3 achieving positive 90-day returns. The confluence of significant recent gains, structural unprofitability, and uncertain execution history makes this transaction noteworthy but does not constitute a definitive insider signal about near-term direction.

CFO Farnsworth sold 14,911 shares at blended $65.47 across two days (Aug 18–19), reducing stake 8.5% to 161.3K shares.

David E. Farnsworth, EVP and CFO, executed 2 separate sales totaling 14,911 shares for $976,284.54, with transactions at $66.52 (7,339 shares) on August 18 and $64.46 (7,572 shares) on August 19. The CFO remains a substantial shareholder with 161,326 post-transaction shares. Mercury Systems trades at $64.54 currently, near the lower end of its 52-week range ($32.35–$68.39), and has rebounded +23.2% over 30 days and +37.6% over 90 days. The company posted negative net income of $-19,170,000.00 in the latest quarter, though annual revenue grew +9.2% to $211,358,000.00. Farnsworth's cross-ticker track record shows 1 prior buy with a 90-day win rate of 100.00%, and his only prior trade at Mercury Systems was a February 2024 buy that returned +10.6% over 30 days and +2.6% over 90 days. This sale occurs after a sharp recent rally and during a period of corporate losses.

JANA Partners sells 797,000 MRCY shares ($52.1M) at $65.42; retains 5.96M shares. Stock up +29.1% in 30d, +44.6% in 90d.

JANA Partners, a director holding 5.96M shares post-sale, sold 797,000 shares (11.8% of prior holdings) at $65.42 as MRCY stock surged +29.1% over 30 days and +44.6% over 90 days. The company remains unprofitable with net income of $-19.2M on quarterly revenue of $211.4M, and trades at a P/E of 115.00. At MRCY specifically, JANA's prior two sales (2025-05-09 and 2025-05-08) both showed strong positive 90-day returns (+14.7% and +16.6%), suggesting the insider has not historically sold ahead of declines at this stock. The current sale occurs at $65.42 against a 52-week high of $68.39, within 2.5% of the peak, following a sharp recent rally rather than at depressed valuations.

Jana Partners sells 188,152 MRCY shares for $8.7M as stock nears 52-week high; holder maintains 6.76M share stake.

Jana Partners Management, LP (Director) conducted 2 separate sales totaling 188,152 shares for $8,665,793.04 on 2025-05-08 and 2025-05-09 at a blended average price of $46.06, reducing holdings by 2.7% to 6,761,313 shares while retaining a substantial 6.76M share position. The sales occurred when MRCY was trading at $46.27–$45.87, approximately at the 52-week high of $51.46 (only 10.0% below), suggesting price-level opportunism. MRCY faces material headwinds: full-year net income was negative ($-19.2M in the latest quarter), annual revenue contracted 14.2%, and the company trades at a $2.8B market cap on declining profitability. Jana's prior 5 trades at MRCY were all buys with uniformly positive 90-day returns (range +3.3% to +9.9%), but this filing represents a directional reversal into sales. The cross-ticker track record shows a 90-day win rate of 45.45% on buys, providing limited confidence in Jana's timing precision across holdings.

JANA Partners LP (Director) bought 13,600 shares of MRCY at $37.25 on 2024-08-27, expanding 6.94M-share position despite 14.2% annual revenue decline and negative net income.

JANA Partners LP acquired 13,600 shares at $37.25 in late August, bringing its total stake to 6,944,633 shares. This purchase occurs in a company experiencing material operational headwinds: annual revenue declined 14.2%, the company reported net income of -$44,574,000.00, and the stock trades 7.0% below its 52-week high. However, JANA's prior trading pattern at MRCY is instructive: 4 of 5 prior buys achieved positive 90-day returns, with a median 90-day outcome of approximately +6.0%, suggesting a demonstrated track record of buying ahead of price appreciation at this specific ticker. The timing in late August positioned the insider ahead of a +8.4% 30-day rally, though longer-term profitability and revenue trajectory remain concerning. Investors should note that this addition to a substantial 6.94M-share block occurs against deteriorating fundamentals and warrants close observation of whether the insider's historical MRCY timing continues or breaks amid the company's operational challenges.