The insider selling is routine in size and pattern, with no C-suite participation. The derivative exercise by the CIO is non-cash and does not indicate a bearish view. Monitor the Q2 2026 closing of the $50.5M facility acquisition for any operational or credit impact, but this cluster alone does not warrant a trading response.
Price Chart
Executive Summary
Two NHC insiders sold a total of $1.83M in open-market sales over a 7-day window, with the largest sale ($1.46M) by Director Richard LaRoche. The selling follows a material agreement (8-K filed May 15) to acquire five skilled nursing facilities for $50.5M, which may have informed the timing. The total sale value is 0.06% of NHC's $3.0B market cap, falling below the 0.1% threshold for routine activity, and the cluster includes a non-cash derivative exercise by the CIO. The selling is not amplified by the cluster effect per academic literature, as cluster sales are typically liquidity-driven.
Key Financial Metrics
Key Facts
- Director Richard LaRoche sold 7,500 shares at $195.14 for $1.46M on 2026-05-21
- Sr. VP Operations Timothy Shelly sold 1,850 shares at $197.22 for $365K on 2026-05-19
- CIO Ben Flatt exercised 8,000 derivative shares (non-cash) and surrendered 2,739 shares for tax withholding ($537K) on 2026-05-22
- Total open-market sales: $1.83M, representing 0.06% of NHC's $3.0B market cap
- The cluster follows a May 15 8-K announcing a $50.5M acquisition of five skilled nursing facilities from a related party
Financial Impact
Open-market sales total $1.83M, or 0.06% of market cap — trivial relative to company size
Risk Factors
- Insider selling could accelerate if the acquisition closing reveals integration challenges
- Related-party nature of the acquisition may raise governance concerns among investors
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NHC-1779914192791 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 2, 2026 7w ago | Insider Cluster | $221.64 $227.66 | ▲ +2.72% | ▲ +3.90% | $212.76 (−4.01%) |
Aug 28, 2026 8w ago | Insider Cluster | $216.53 $224.16 | ▲ +3.52% | ▲ +3.71% | $212.76 (−1.74%) |
Aug 11, 2026 10w ago | 8-K | $216.69 $227.24 | ▲ +4.87% | ▲ +5.93% | $212.76 (−1.81%) |
Aug 11, 2026 10w ago | 8-K | $216.69 $227.24 | ▲ +4.87% | ▲ +5.93% | $212.76 (−1.81%) |
May 27, 2026 21w ago | 8-K | $184.84 $206.54 | ▲ +11.74% | ▲ +14.88% | $212.76 (+15.10%) |
May 22, 2026 22w ago | Insider Cluster | $190.00 $203.30 | ▲ +7.00% | ▲ +8.95% | $212.76 (+11.98%) |
May 22, 2026 22w ago | Insider Cluster | $190.00 $203.30 | ▲ +7.00% | ▲ +8.95% | $212.76 (+11.98%) |
May 21, 2026 22w ago | 144 | $196.00 $202.80 | ▲ +3.47% | ▲ +4.89% | $212.76 (+8.55%) |
May 15, 2026 23w ago | 8-K | $196.30 $191.97 | ▼ −2.21% | ▼ −3.79% | $212.76 (+8.39%) |
May 8, 2026 24w ago | 8-K | $188.82 $192.13 | ▲ +1.75% | ▲ +1.73% | $212.76 (+12.68%) |
US Market Status
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