Director Hanstveit sold 165,292 shares at $10.14 for $1.7M, reducing stake 30.0%; stock down 42.5% from $18.11 high
Director Arve Hanstveit sold 165,292 shares at $10.14 on 2026-04-02 with a post-transaction holding of 384,928 shares, representing a 30.0% reduction of his prior position. The sale occurred at a price 2.7% below the current market price of $10.42 and significantly below the 52-week high of $18.11—the stock has declined 42.5% from its peak and 27.7% over the past 90 days. Against a backdrop of deteriorating momentum (90-day change: -27.7%), a narrowing P/E of 28.16, and recent annual revenue contraction of -6.9%, the substantial reduction in this director's holdings reflects material portfolio adjustment at a depressed valuation. The size and timing warrant scrutiny given the company's recent financial headwinds and the director's continued but materially reduced exposure.