This cluster is noise at TER's scale. CEO selling at the same price as his option exercise (tax-driven) and a director trimming small lot are routine 10b5-1 / vesting-liquidity events. No bearish read-through warranted. Continue to monitor for any C-suite cluster BUYS, which would carry strong informational content per the literature.
Price Chart
Executive Summary
CEO Gregory Smith sold $2.91M of stock and a director sold $271K on the same day, May 15. The CEO also exercised two sets of options (one cashless, one tax-costing). With $3.19M in total cluster sales against a $50.3B market cap (~0.006%), the dollar amount is trivial — under 0.01% of market value and well below the 0.1% materiality floor for insider clusters. These are routine liquidity/diversification sales, not a material bearish signal.
Key Financial Metrics
Key Facts
- CEO Gregory Smith sold 8,597 shares for $2.91M via open-market sale on May 15
- CEO also exercised 4,597 options at $72.10 ($331K) and 4,597 derivative shares at $0 (non-cash grant/vesting)
- Director Marilyn Matz sold 800 shares for $271K on May 15
- Total cluster sale value is $3.19M, just 0.006% of TER's $50.3B market cap
- Prior 30d insider activity showed only 2 sells totaling $3.2M — this cluster is consistent with normal cadence
- No open-market purchases in the cluster; all movement is selling
Financial Impact
Total sales of $3.19M represent ~0.006% of market cap — economically trivial
Risk Factors
- Insider sales at this velocity are trivial for TER's market cap — no elevated risk
- No C-suite cluster buying to offset the selling, but selling here is not informative
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-TER-1779215297180 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 16, 2026 16d ago | Insider Cluster | $341.15 $389.14 | ▲ +14.07% | ▲ +11.50% | $446.70 (+30.94%) |
Aug 21, 2026 6w ago | ANALYST-DOWNGRADE | $375.74 $354.97 | ▼ −5.53% | ▼ −6.00% | $446.70 (+18.88%) |
Aug 18, 2026 6w ago | Insider Cluster | $404.29 $366.43 | ▼ −9.36% | ▼ −9.16% | $446.70 (+10.49%) |
Aug 10, 2026 7w ago | 8-K | $379.56 $404.29 | ▲ +6.52% | ▲ +6.92% | $446.70 (+17.69%) |
Jul 16, 2026 11w ago | Insider Cluster | $322.30 $373.75 | ▲ +15.96% | ▲ +17.63% | $446.70 (+38.60%) |
Jun 16, 2026 15w ago | Insider Cluster | $408.56 $427.20 | ▲ +4.56% | ▲ +5.60% | $446.70 (+9.33%) |
May 26, 2026 18w ago | Insider Cluster | $375.83 $392.62 | ▲ +4.47% | ▲ +3.26% | $446.70 (+18.86%) |
May 26, 2026 18w ago | Insider Cluster | $375.83 $392.62 | ▲ +4.47% | ▲ +3.26% | $446.70 (+18.86%) |
May 19, 2026 19w ago | Insider Cluster | $321.40 $372.75 | ▲ +15.98% | ▲ +13.73% | $446.70 (+38.98%) |
Apr 30, 2026 22w ago | ANALYST-UPGRADE | $345.42 $354.11 | ▲ +2.52% | ▲ +0.17% | $446.70 (+29.32%) |
US Market Status
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