Insider Buying Activity at Cardinal Infrastructure Group Inc.
On Tuesday, Cardinal Infrastructure Group Inc. (ticker CDNL) shares climbed approximately 4% after the company disclosed a coordinated insider buying program totaling about $8.2 million. All purchases were executed on August 14 and reported in Form 4 filings submitted to the U.S. Securities and Exchange Commission on August 17.
- CEO Jeremy Spivey purchased 83,350 shares for roughly $3.2 million, with weighted‑average transaction prices ranging from $36.58 to $39.65 per share.
- Director Anthony Wood Jr. bought 51,400 shares valued at approximately $2.02 million, at weighted‑average prices between $39.16 and $39.75.
- Director Richard Melvin Lee Jr. acquired 34,000 shares worth about $1.25 million, at prices from $36.59 to $37.73.
- Chief Operating Officer Benjamin Wood purchased 25,700 shares for about $1.01 million, at weighted‑average prices of $39.22 and $39.77.
- Director Ivy Zelman bought 12,647 shares valued at roughly $500,947, at a weighted‑average price of $39.61.
- Chief Financial Officer Michael Rowe Jr. acquired 7,000 shares for approximately $255,710, at a weighted‑average price of $36.53.
Collectively, the six insiders bought 214,097 shares, representing a direct ownership increase of roughly $8.2 million across the leadership team. The article notes that this coordinated buying activity signals confidence from Cardinal Infrastructure’s management in the company’s near‑term prospects.