Monitor for further insider selling or a material event (e.g., earnings miss, guidance cut) that could justify the CEO's de-risking. The cluster's amplification by cross-filing actuarial verdicts warrants attention, but the impact is likely contained.
Price Chart
Executive Summary
CEO Bryan Leach sold ~$1.47M of IBTA stock over two days (Sep 8-9), including a $1.0M open-market sale on Sep 8, alongside option exercises. CTO Luke Roy and CPO Marisa Daspit also sold smaller amounts in the same window, forming a three-insider cluster totaling ~$1.58M in open-market sales. At a $907M market cap, this represents ~0.17% of shares outstanding — a modest but notable cluster. The cluster is amplified by the cross-filing actuarial verdicts, but the proportionality is modest, keeping the impact score at 5.
Key Financial Metrics
Key Facts
- CEO Bryan Leach sold 39,103 shares total (~$1.47M) on Sep 8-9, including a $1.0M open-market sale.
- CTO Luke Roy sold 3,100 shares (~$115K) on Sep 1.
- CPO Marisa Daspit sold 1,800 shares (~$66K) on Sep 2.
- Total open-market sales in the cluster: ~$1.58M, or ~0.17% of IBTA's $907M market cap.
- Leach also exercised 15,142 options at $3.99/share ($60K) and 15,142 options at $0 (non-cash) on Sep 8.
Financial Impact
CEO sold ~$1.47M of stock, representing ~0.16% of market cap. Total cluster sales ~$1.58M (~0.17% of market cap).
Risk Factors
- CEO may have additional shares to sell, signaling further bearishness.
- Insider sales could precede a negative catalyst (e.g., weak Q3 earnings, competitive pressure).
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-IBTA-1789074651619 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 23, 2026 3d ago | Insider Cluster | $48.61 | awaiting T+1 | — | $48.44 (−0.35%) |
Oct 22, 2026 4d ago | 144 | $48.61 $48.68 | ▲ +0.14% | ▼ −0.57% | $48.44 (−0.35%) |
Oct 22, 2026 4d ago | 144 | $48.61 $48.68 | ▲ +0.14% | ▼ −0.57% | $48.44 (−0.35%) |
Oct 22, 2026 4d ago | 144 | $48.61 $48.68 | ▲ +0.14% | ▼ −0.57% | $48.44 (−0.35%) |
Sep 25, 2026 4w ago | Insider Cluster | $40.07 $39.27 | ▲ +2.00% | ▲ +1.81% | $48.44 (−20.89%) |
Sep 24, 2026 4w ago | 8-K | $41.06 $40.07 | ▼ −2.41% | ▼ −1.67% | $48.44 (+17.97%) |
Sep 14, 2026 6w ago | Insider Cluster | $42.05 $41.58 | ▲ +1.12% | ▲ +0.68% | $48.44 (−15.20%) |
Sep 10, 2026 6w ago | Insider Cluster | $41.14 $42.40 | ▼ −3.06% | ▼ −3.51% | $48.44 (−17.74%) |
Sep 3, 2026 7w ago | Insider Cluster | $38.39 $38.38 | ▼ −0.03% | ▲ +0.52% | $48.44 (+26.18%) |
Aug 19, 2026 9w ago | Insider Cluster | $36.48 $37.71 | ▼ −3.37% | ▼ −2.96% | $48.44 (−32.79%) |
US Market Status
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