Director David M. Wilds sold 218.4K shares of IIIV at $24.81 on 2025-05-13, reducing holdings 84.5%, amid negative FY revenue growth (-37.9%) and near-zero net income.
Director David M. Wilds executed a sale of 218.4K shares at $24.81, reducing his common shareholding by 84.5% to 40.2K shares post-transaction. This substantial disposal occurs against a deteriorating operational backdrop: the latest quarter shows revenue of $63.1M with net income of $-154.0K (loss), and full-year revenue declined 37.9% versus the prior fiscal year. The transaction price of $24.81 sits below the current market price of $26.40, suggesting the sale predates the recent 6.0% 30-day price recovery. The depth of the reduction—from 258.6K to 40.2K shares—combined with persistent revenue contraction and negative profitability, represents a material shift in the director's equity exposure to IIIV. Notably, this filing flags a derivative-conversion transaction; the insider's complete equity position includes derivative securities whose terms are not yet fully detailed in available database records, so the reported 40.2K shares do not necessarily represent total economic interest.