The cluster is routine post-vesting liquidation by the COO and a nominal director sale. No bearish signal — monitor for any acceleration of selling by the COO in subsequent weeks, but this cluster alone does not warrant action.
Price Chart
Executive Summary
Two Nexstar insiders, including President & COO Michael Biard, sold a total of $514K in open-market shares on August 24, 2026. Biard's sale of $458K followed a non-cash derivative exercise of 12,500 shares on August 21, suggesting a routine post-vesting liquidation rather than a bearish signal. Director Aulestia's $56K sale is trivial. At 0.009% of Nexstar's $5.7B market cap, the cluster is economically immaterial and does not warrant a bearish read despite the selling direction.
Key Financial Metrics
Key Facts
- President & COO Michael Biard sold 2,465 shares for $458K on August 24, 2026
- Biard exercised 12,500 derivative shares at $0 (non-cash) on August 21, 2026
- Director Bernadette Aulestia sold 300 shares for $56K on August 24, 2026
- Total cluster value of $514K represents ~0.009% of Nexstar's $5.7B market cap
- All open-market sales occurred on the same day (Aug 24) after Biard's derivative exercise (Aug 21)
Financial Impact
Total insider sales of $514K, or ~0.009% of market cap — trivial
Risk Factors
- Insider sales could accelerate if management sees headwinds in advertising revenue or retransmission fees
- Broadcasting sector faces secular cord-cutting risk, but this cluster does not indicate new information
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-NXST-1787642121063 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 22, 2026 4d ago | Press Release | $167.34 | awaiting T+20 | — | $164.75 (−1.55%) |
Oct 13, 2026 13d ago | Press Release | $160.56 | awaiting T+20 | — | $164.75 (+2.61%) |
Aug 24, 2026 9w ago | Insider Cluster | $189.39 $165.57 | ▼ −12.58% | ▼ −12.83% | $164.75 (−13.01%) |
Aug 17, 2026 10w ago | Court Ruling | $182.57 $163.67 | ▼ −10.35% | ▼ −8.61% | $164.75 (−9.76%) |
Aug 6, 2026 11w ago | 8-K | $187.97 $177.67 | ▼ −5.48% | ▼ −6.08% | $164.75 (−12.35%) |
Aug 3, 2026 12w ago | 8-K | $192.49 $181.14 | ▼ −5.90% | ▼ −7.14% | $164.75 (−14.41%) |
Jun 30, 2026 16w ago | Court Ruling | $178.59 $185.80 | ▲ +4.04% | ▲ +5.07% | $164.75 (−7.75%) |
Jun 29, 2026 17w ago | Insider Buy | $170.73 $183.31 | ▲ +7.37% | ▲ +7.65% | $164.75 (−3.50%) |
Jun 16, 2026 18w ago | 8-K | $172.11 $175.56 | ▲ +2.00% | ▲ +1.80% | $164.75 (−4.28%) |
Jun 15, 2026 19w ago | Insider Cluster | $172.29 $175.46 | ▲ +1.84% | ▲ +2.59% | $164.75 (−4.38%) |
US Market Status
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