No actionable signal. The dollar amount is too small relative to ADP's size to warrant concern. Monitor next 10-Q for any fundamental changes, but this insider activity is routine.
Price Chart
Executive Summary
Two ADP executives sold a combined $257K in open-market sales over a 7-day window, with Corp VP David Kwon also exercising derivatives. The total value is ~0.0002% of ADP's $111.6B market cap — a trivial amount that does not signal material insider concern. The cluster is neutral, driven by routine liquidity and tax-related transactions.
Key Financial Metrics
Key Facts
- Executive VP Michaud sold 120 shares for $33,564 on Aug 21.
- Corp VP Kwon sold 798 shares for $223,440 on Aug 20, plus exercised 1,934 derivative shares at $169.84.
- Total open-market sales: $257,004, representing ~0.0002% of ADP's $111.6B market cap.
- No C-suite (CEO/CFO/COO) participation; both sellers are lower-level executives.
- No open-market purchases in the cluster.
Financial Impact
Trivial — $257K in sales is ~0.0002% of market cap, well below the 0.1% materiality threshold.
Risk Factors
- Insider sales at this scale are not indicative of bearish sentiment; risk of misinterpreting as a signal is low.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ADP-1787646487818 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 4, 2026 28d ago | Insider Cluster | $277.62 $276.63 | ▼ −0.36% | ▲ +0.85% | $258.36 (−6.94%) |
Sep 4, 2026 28d ago | Insider Cluster | $277.62 $276.63 | ▼ −0.36% | ▲ +0.85% | $258.36 (−6.94%) |
Sep 3, 2026 29d ago | Insider Cluster | $283.53 $268.26 | ▼ −5.39% | ▼ −4.24% | $258.36 (−8.88%) |
Aug 24, 2026 5w ago | Insider Cluster | $283.01 $286.16 | ▲ +1.11% | ▲ +0.64% | $258.36 (−8.71%) |
Jul 29, 2026 9w ago | 8-K | $273.37 $269.90 | ▼ −1.27% | ▼ −6.80% | $258.36 (−5.49%) |
Jul 20, 2026 10w ago | Institutional Cluster | $246.22 $254.98 | ▲ +3.56% | ▲ +4.79% | $258.36 (+4.93%) |
Jun 21, 2026 14w ago | Institutional Cluster | $214.60 $223.55 | ▲ +4.17% | ▲ +6.24% | $258.36 (+20.39%) |
Mar 30, 2026 26w ago | Court Ruling | $205.41 $203.47 | ▼ −0.94% | ▼ −5.24% | $258.36 (+25.78%) |
Mar 10, 2026 29w ago | Court Ruling | $217.22 $209.63 | ▼ −3.49% | ▼ −2.59% | $258.36 (+18.94%) |
US Market Status
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