The insider sales are too small to signal a bearish view — they are likely routine portfolio diversification following a positive credit event (refinancing). Monitor the next 10-Q for any fundamental deterioration in refining margins, but this cluster alone does not warrant action.
Price Chart
Executive Summary
Two insiders at Delek US Holdings sold a combined $732K in open-market sales within a week of the company closing a material debt refinancing. The sales are modest relative to the $2.8B market cap (0.026%) and follow a routine pattern — the EVP sale occurred the day after the refinancing was announced, and the director sale five days later. Per the cross-filing actuarial verdicts, the combination of insider trades + agreement context is an AMPLIFIER, but the absolute dollar amount is too small to warrant a bearish read.
Key Financial Metrics
Key Facts
- Total insider sales of $732K represent 0.026% of DK's $2.8B market cap — well below the 0.1% materiality threshold
- EVP Robert G. Wright sold $505K on May 13, the day after the May 12 refinancing announcement
- Director Laurie Z. Tolson sold $228K on May 18, five days after the refinancing
- The refinancing reduced term loans to $850M, extended maturity to 2032, and lowered the interest rate to SOFR + 300 bps
- No insider purchases in the cluster — all activity is selling
Financial Impact
Total insider sales of $732K, or 0.026% of market cap — trivial relative to company size
Risk Factors
- Refining margins are cyclical and could compress, but this insider activity does not predict that
- The EVP sale timing near the refinancing could be interpreted as informed selling, but the dollar amount is immaterial
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-DK-1779325337010 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 16d ago | Insider Cluster | $79.16 $72.26 | ▼ −8.72% | ▼ −10.54% | $74.19 (−6.28%) |
Sep 10, 2026 22d ago | Insider Cluster | $74.89 $81.55 | ▲ +8.89% | ▲ +9.39% | $74.19 (−0.93%) |
Sep 4, 2026 28d ago | 144 | $71.86 $74.47 | ▲ +3.63% | ▲ +4.84% | $74.19 (+3.24%) |
Sep 1, 2026 4w ago | 144 | $73.34 $75.28 | ▲ +2.65% | ▲ +2.56% | $74.19 (+1.16%) |
Aug 28, 2026 5w ago | 144 | $72.25 $71.86 | ▼ −0.54% | ▼ −0.65% | $74.19 (+2.69%) |
Aug 27, 2026 5w ago | Insider Cluster | $70.26 $72.40 | ▲ +3.05% | ▲ +2.78% | $74.19 (+5.59%) |
Aug 26, 2026 5w ago | Insider Cluster | $70.84 $71.45 | ▲ +0.86% | ▲ +0.98% | $74.19 (+4.73%) |
Aug 26, 2026 5w ago | Insider Cluster | $70.84 $71.45 | ▲ +0.86% | ▲ +0.98% | $74.19 (+4.73%) |
Aug 24, 2026 5w ago | 144 | $68.08 $74.34 | ▲ +9.20% | ▲ +8.73% | $74.19 (+8.97%) |
Aug 21, 2026 6w ago | 144 | $71.47 $72.25 | ▲ +1.09% | ▲ +0.62% | $74.19 (+3.81%) |
US Market Status
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