Brown Michael Dean sold 92,798 shares at blended $74.26 for $6.9M, reducing TNL stake by 17.8%
Michael Dean executed five separate sales totaling 92,798 shares for $6,891,332.27 over two trading days, reducing his TNL holdings from 520,619 to 427,821 shares. The blended average transaction price of $74.26 sits 1.7% below the current price of $75.56 and near the 52-week high of $76.18, marking a significant portfolio reduction. Notably, his cross-ticker track record shows 100% 90-day win rate on prior buys (averaging +11.8% over 90 days), and his three prior purchases at TNL were all well-timed at the 90-day mark, including a +21.0% return from his October 2023 buy. This substantial liquidation of a long-held, appreciated position warrants investor attention, though the filing provides no remarks clarifying the motivation—whether the sale reflects changed conviction or operational/personal cash needs.