The CEO's open-market sale without a 10b5-1 plan is a bearish signal, especially given BNED's small market cap and the lack of any insider buying to offset it. Monitor for upcoming earnings or material news that could explain the timing; the next 10-Q filing or any 8-K disclosures should be scrutinized for negative developments.
Price Chart
Executive Summary
CEO Jonathan Shar sold $331K worth of BNED stock in an open-market sale, and the SVP/CAO sold $25K, totaling $357K in insider selling over a one-week window. The CEO's sale is material relative to the company's $326M market cap (~0.1%), and the cluster is entirely open-market sales with no 10b5-1 plan indication, signaling potential concern about near-term prospects.
Key Financial Metrics
Key Facts
- CEO Jonathan Shar sold 30,000 shares at $11.04 for $331,200 in an open-market sale on 2026-09-22
- SVP/CAO Gary Luster sold 2,300 shares at $11.20 for $25,760 in an open-market sale on 2026-09-23
- Total insider selling: $357K, representing ~0.11% of BNED's $326M market cap
- No 10b5-1 trading plan indicated for either sale
- Cluster is entirely open-market sales (code S) with no offsetting insider purchases
Financial Impact
Insider selling of $357K, ~0.11% of market cap, concentrated in CEO's open-market sale
Risk Factors
- CEO selling without a plan may signal deteriorating fundamentals or upcoming bad news
- BNED's small market cap makes even modest insider sales proportionally significant
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-BNED-1790368592240 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | 8-K | $13.50 | awaiting T+1 | — | $13.62 (+0.89%) |
Sep 25, 2026 4w ago | Insider Cluster | $11.11 $11.31 | ▼ −1.79% | ▼ −1.97% | $13.62 (−22.62%) |
Sep 25, 2026 4w ago | Insider Cluster | $11.11 $11.31 | ▼ −1.79% | ▼ −1.97% | $13.62 (−22.62%) |
Sep 24, 2026 4w ago | Press Release | $11.33 $11.18 | ▼ −1.32% | ▼ −0.58% | $13.62 (+20.21%) |
Jul 21, 2026 13w ago | Insider Cluster | $12.35 $11.90 | ▼ −3.64% | ▼ −3.53% | $13.62 (+10.28%) |
Jul 9, 2026 15w ago | Press Release | $12.91 $12.53 | ▼ −2.94% | ▼ −2.18% | $13.62 (+5.50%) |
Jul 8, 2026 15w ago | Insider Cluster | $11.42 $12.91 | ▼ −13.05% | ▼ −12.62% | $13.62 (−19.26%) |
Jul 7, 2026 15w ago | Insider Cluster | $11.37 $11.65 | ▼ −2.46% | ▼ −2.77% | $13.62 (−19.79%) |
Jun 24, 2026 17w ago | 8-K | $13.43 $13.74 | ▲ +2.31% | ▲ +3.03% | $13.62 (+1.41%) |
Mar 13, 2026 32w ago | Insider Cluster | $8.49 $8.97 | ▲ +5.65% | ▲ +4.63% | $13.62 (+60.42%) |
US Market Status
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