Director Michael Spellacy sold 470,000 shares at $10.00 for $4.7M, reducing stake by 28.8% while company posts $-115.3M net loss.
Michael Spellacy, a director at Archer Aviation, executed 2 separate sales totaling 470,000 shares at a blended average price of $10.00 on 2024-12-18, generating $4,700,000.00 in proceeds and reducing his post-transaction holdings to 1,162,183 shares from 1,632,183 shares. The sale occurred at a price $0.51 above the current price of $9.49, which sits 0.8% below the 52-week high of $9.57 despite a 30-day surge of +87.6% and a 90-day surge of +210.1%. Notably, this substantial disposal happens while the company reported a full-year net loss of $-115,300,000.00, placing the director's sale activity against a backdrop of ongoing unprofitability and capital burn. The scale of the reduction—nearly 29% of pre-transaction holdings—warrants monitoring to establish whether additional insiders are similarly adjusting their exposure.