Director Blom David P purchased 9,320 shares of MEI at $10.81 on 2024-09-18, expanding holdings 33.0%.
Director Blom acquired 9,320 shares at $10.81, increasing his position from 28,211 shares to 37,531 shares—a 33.0% increase in holdings. The transaction occurred when MEI stock is -55.2% below its 52-week high of $25.51 and the company faces current unprofitability with net income of -$18.3M over its most recent full fiscal year, alongside -5.5% annual revenue contraction. The buy occurred at a depressed point in the stock's recent range (current price $11.42 is only $0.61 above the purchase price, and the stock has recovered +10.9% over the prior 30 days and +11.7% over 90 days), suggesting the director executed this purchase during a period of overshooting downside. This buy is material relative to the director's existing holdings but occurs in a context of operational headwinds that warrant monitoring of near-term profitability trajectory.