SPMC Sound Point Meridian Capital, Inc. Insider Trading

10% Owner Assured Guaranty acquired 242,718 shares of Sound Point Meridian ($6.0M) at $24.72; stock now $112.48 (-25.5% from 52-week high)

Assured Guaranty, a 10% shareholder, deployed $6,000,000.01 to acquire 242,718 shares at $24.72 on 2026-04-30, increasing holdings from 760,000 shares to 1,002,718 shares (+31.9% vs pre-transaction holdings). The timing of this purchase is notable given that the security has declined 25.5% from its 52-week high of $150.91 and the current price of $112.48 reflects a 30-day decline of 2.0% and a 90-day decline of 4.3%. A major shareholder electing to increase exposure at a significantly lower price point than recent highs warrants investor attention to the underlying drivers of both the shareholder's conviction and the recent weakness in the BDC's valuation.

Director Forstenhausler buys 2,000 shares of SPMC at $11.50; stock down 52.4% from 52-week high, director holds 9.6K shares post-trade.

Director Matthew E. Forstenhausler purchased 2,000 shares at $11.50, a discretionary open-market buy that increases his stake by 26.2% to 9.6K shares total. The transaction occurs amid significant recent price weakness: the stock is down 52.4% from its 52-week high of $22.11 and down 30.2% over the 90-day period. Notably, across his same-ticker history at SPMC, Forstenhausler has executed three buys in the preceding four trading days (2025-12-19, 2025-12-18, and 2025-12-17), each showing modest near-term gains (around 2.8–3.6% over 30 days), and his only prior SPMC buy with measurable 90-day outcome (from 2024-11-21) delivered an 8.4% return. His broader cross-ticker track record shows a 100% 90-day win rate across 4 prior buys with an average 90-day return of 8.4%, suggesting a pattern of well-timed accumulations. The rapid cluster of four purchases over consecutive days in late December followed by this current-date purchase suggests sustained accumulation during weakness.

Ketchum (Chairman) bought 1,000 shares of SPMC at $11.40; stock down 52.4% from 52-week high, timing pattern weak.

Ketchum purchased 1,000 shares at $11.40 on 2026-02-13, increasing holdings from 92,090 to 93,090 shares. The transaction occurred when SPMC is down 52.4% from its 52-week high of $22.11 and down 25.3% over the past 30 days. Notably, this is the sixth buy by Ketchum at SPMC in under a year; his prior five purchases at this ticker show a timing pattern of only 1 of 5 well-timed on a 90-day basis, with recent October 2025 buys all posting negative 90-day returns (-5.8%, -1.4%, -3.5%). While his cross-ticker track record shows 61.54% win rate, his same-ticker history at SPMC reveals persistent poorly-timed buys during a sustained decline. The continued accumulation despite this pattern and the stock's current 30-day and 90-day declines merit close observation.

Director Forstenhausler purchases 6,318 shares at avg $13.62 across 3 trades, expanding stake 631.8%, while stock down 39.0% from 52-week high.

Director Matthew E. Forstenhausler executed 3 separate purchases totaling 6,318 shares for $86,044.80 at a blended average price of $13.62 between December 17–19, 2025, increasing his holdings from 1,000 to 7,318 shares (+631.8%). The timing of this accumulation occurs as SPMC trades at $13.49, down 39.0% from its 52-week high of $22.11 and down 10.5% over the prior 30 days. Forstenhausler's cross-ticker track record shows a 100.0% 90-day win rate on 1 prior buy, and his single prior trade at SPMC (November 2024) achieved a 90-day return of +8.4%, establishing a pattern of purchases timed well relative to subsequent stock appreciation. This substantial open-market accumulation at depressed price levels, coupled with the insider's historical pattern of well-timed entry points at this specific ticker, warrants close investor attention to whether this signals forward-looking conviction in the stock's recovery or fundamentals.

CEO Ujjaval Desai bought 3,162 shares across 3 separate purchases for $43,052.08 as stock trades -39.1% from 52-week high.

Desai executed three separate purchases over four trading days (December 12–16, 2025) at an average price of $13.62, adding 3,162 shares and increasing his total holdings by 4.0% to 81,741 shares. The current price of $13.46 is 39.1% below the 52-week high of $22.11, and the stock has declined 18.0% over the past 30 days and 23.5% over 90 days, suggesting a substantial drawdown from recent valuations. His prior trades at SPMC show mixed near-term results: two October purchases are currently underwater on a 30-day basis (-6.5% and -1.9% respectively), while his June 2024 purchase delivered a 1.2% gain by the 90-day mark. The timing pattern across his same-ticker history shows only 1 of 1 prior measurable 90-day outcomes was positive. This filing records open-market purchases during a period of material price decline, but whether these purchases represent opportunistic accumulation or other motivations cannot be determined from the transaction data alone.

Chairman Stephen Ketchum purchased 8,000 shares of SPMC for $124,270.00 across 3 transactions at blended average $15.53 (Oct 20-22)

Stephen Ketchum, as Chairman, executed 3 separate purchases totaling 8,000 shares for $124,270.00 at an average price of $15.53, expanding his holding by 9.2% to 95,090 shares. The stock is currently trading at $15.60, down 29.4% from its 52-week high of $22.11 and down 9.3% over the past 30 days. Notably, Ketchum's prior 5 transactions at SPMC all involved purchases, with 3 of those 5 trades showing positive 90-day returns (well-timed by that metric). However, his cross-ticker track record shows an 80.00% 90-day win rate, and his same-ticker history at SPMC shows mixed recent outcomes: April 2025 purchases generated 30-day gains ranging from 4.3% to 6.2% but 90-day results of -1.5% to +0.3%. The timing pattern suggests some historical accuracy at identifying entry points at SPMC, though recent performance volatility and the stock's proximity to multi-month lows warrant attention to whether this purchase represents a durable inflection point or renewed accumulation in a declining trend.

CEO Desai Ujjaval acquired 20,000 shares at $15.50 avg; holdings rise 34.1% to 78,579 shares amid -29.4% 52-week decline.

Desai Ujjaval, CEO of Sound Point Meridian Capital, executed 2 separate purchases totaling 20,000 shares for $310,000.00 on 2025-10-20 and 2025-10-22 at a blended average price of $15.50, increasing his post-transaction holdings to 78,579 shares. The stock is trading -29.4% from its 52-week high of $22.11 and has declined -9.3% over the last 30 days and -12.3% over 90 days, placing the transaction during a period of material price pressure. Ujjaval's prior buy at this ticker on 2024-06-17 achieved a 90-day return of +1.2%, and his cross-ticker track record shows 1 prior buy with 100.0% win rate at the 90-day mark, establishing a pattern of historically well-timed purchases. This filing merits close attention given the significant absolute size ($310,000.00) and percentage increase in executive holdings (+34.1%) during a downturn.

Chairman Ketchum Stephen bought 6,000 shares at SPMC in 3 transactions for $110.2K; holdings +25.7%.

Stephen Ketchum, as Chairman of Sound Point Meridian Capital, executed 3 separate purchases totaling 6,000 shares for $110,240.00 over three consecutive business days (2025-04-09 to 2025-04-11) at prices between $18.15 and $18.49, with a blended average of $18.37. His shareholding increased 25.7% from 23,326 to 29,326 shares post-transaction. The current price of $18.30 is -17.2% from the 52-week high and down -12.9% over the 30-day period. Notably, Ketchum's prior 5 purchases at SPMC all demonstrated positive 90-day returns (ranging from +4.6% to +10.3%), and his cross-ticker track record shows a 100% win rate across 7 prior buys with an average 90-day return of +5.5%. The timing of this multi-day accumulation during a period of recent price weakness relative to year-to-date trends adds context to the transaction.

Director Forstenhausler Matthew E. buys 1.0K shares of SPMC at $20.25; 3 other insiders bought within 14 days

Director Forstenhausler Matthew E. acquired 1,000 shares at $20.25 on 2024-11-21, establishing a new position in Sound Point Meridian Capital. The transaction occurs amid a cluster of insider buying: 3 other insiders also purchased shares within the past 14 days. This coordinated activity suggests internal alignment on valuation or strategic direction. The current price of $20.43 sits near the transaction price and within the 52-week trading range of $18.75–$21.00, placing the stock near intermediate resistance levels with recent upward momentum (7.2% gain over 30 days).

Director Lewin Lana purchases 492 SPMC shares at $20.45; 3 other insiders bought within 14 days

Director Lewin Lana purchased 492 shares at $20.45, establishing a new position on 2024-11-20. This purchase is noteworthy because it forms part of a cluster pattern: 3 other insiders also bought within the past 14 days. Cluster buying activity—where multiple company insiders make purchases in a short timeframe—often indicates coordinated conviction or response to a perceived opportunity. The stock has risen 8.0% over the past 30 days and currently trades at $20.53, very close to the purchase price, while remaining 2.2% below its 52-week high of $21.00. The convergence of multiple insider buys warrants attention as a potential indicator of management-level assessment.