No actionable signal. The cluster consists entirely of derivative-exercise-and-sell transactions by two insiders — a standard pattern for tax withholding and cashless exercise. With CMO Joana Goncalves also selling a smaller lot, there is no evidence of coordinated bearish conviction. Historical calibration shows ORKA insider cluster reports have been unreliable, with the model's T+20 average alpha at -0.96% in this segment. Ignore this cluster.
Price Chart
Executive Summary
Director Carl Dambkowski and SVP Arjun Agarwal executed derivative exercises and open-market sales, with total open-market sales of ~$2.78M on the cluster window. The sales are modest relative to ORKA's $3.5B market cap (~0.08%) and are tied to derivative exercise/cashless exercise-and-sell patterns — a routine liquidity mechanism rather than informed selling.
Key Financial Metrics
Key Facts
- Director Carl Dambkowski sold 38,318 shares on 2026-05-21 at ~$58.43 for ~$2.24M, combined with derivative exercises (38,689 shares at $6.84 and 11,904 shares at $0).
- SVP Arjun Agarwal sold 4,190 shares on 2026-05-18 at ~$58.34 for ~$244K, combined with derivative exercises (2,000 shares at $12.50 and 2,000 shares at $0).
- Total open-market sales: ~$2.78M, representing ~0.08% of ORKA's $3.5B market cap.
- CMO Joana Goncalves sold 4.8K shares at ~$61.56 for ~$295K in the 7d window — an additional partial cluster participant.
- All sales in the cluster are derivative-related, not outright open-market portfolio liquidation.
Financial Impact
Total insider sale value of ~$2.78M is trivial relative to $3.5B market cap (~0.08%) — noise floor.
Risk Factors
- If the company is in a pre-approval or data-readout window, any insider sale gets outsized attention — manage headline risk.
- Non-open-market exercises (A, M, F) do not reflect bearish conviction but are often mischaracterized by retail media.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-ORKA-1779483291571 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 16d ago | Insider Cluster | $93.55 $89.93 | ▼ −3.87% | ▼ −6.44% | $84.38 (−9.80%) |
Sep 1, 2026 4w ago | Insider Cluster | $91.63 $91.65 | ▼ −0.02% | ▼ −0.98% | $84.38 (+7.91%) |
Aug 28, 2026 5w ago | EFFECT | $91.15 $92.51 | ▼ −1.50% | ▼ −1.39% | $84.38 (+7.42%) |
Aug 17, 2026 6w ago | Insider Cluster | $113.08 $101.82 | ▼ −9.96% | ▼ −9.76% | $84.38 (−25.38%) |
Aug 10, 2026 7w ago | Press Release | $105.14 $112.66 | ▲ +7.15% | ▲ +7.20% | $84.38 (−19.75%) |
Aug 10, 2026 7w ago | 8-K | $105.14 $112.66 | ▲ +7.15% | ▲ +7.20% | $84.38 (−19.75%) |
Aug 9, 2026 7w ago | Institutional Cluster | $105.14 $112.66 | ▲ +7.15% | ▲ +7.20% | $84.38 (−19.75%) |
Jul 15, 2026 11w ago | Insider Cluster | $83.04 $91.95 | ▲ +10.73% | ▲ +12.40% | $84.38 (+1.61%) |
Jul 2, 2026 13w ago | Insider Cluster | $85.21 $88.27 | ▲ +3.59% | ▲ +2.66% | $84.38 (−0.97%) |
Jun 22, 2026 14w ago | Insider Cluster | $83.40 $92.49 | ▲ +10.90% | ▲ +9.89% | $84.38 (+1.18%) |
US Market Status
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