Baumgartner Florian, serving as EVP and CEO of Vista at CMPR, has filed 42 Form 4 transactions with the SEC, all involving a single company. The pattern is unambiguous: zero open-market purchases and zero acquisitions, against $1,025,859.30 in total sell value. Every transaction falls into the mechanical or automatic categories—option exercises (code M) paired with shares withheld to cover tax obligations (code F). There are no discretionary sales (code S) or buybacks (code P) in the record, indicating that all activity stems from compensation vesting rather than active portfolio management.
The recent filings, spanning August 2025 through July 2026, show a consistent rhythm of monthly option exercises followed by tax-withholding events. For instance, on July 15, 2026, Florian exercised options valued at $0 (code M) and had $48,077.76 in shares withheld (code F). Similar pairings occurred on May 15, 2026 ($289,821 withheld), April 15, 2026 ($355,041.39 withheld), and February 15, 2026 ($230,682.62 withheld). The largest single withholding was $355,041.39 in April 2026, while the smallest was $31,255.66 in October 2025. The dollar values of the F transactions fluctuate with CMPR's share price, but the structure remains identical: exercise, then immediately surrender shares to cover taxes.
This pattern reveals no directional bias—neither buying conviction nor deliberate selling. The absence of any P or S codes confirms that Florian is not making open-market decisions; instead, he is passively accumulating shares through compensation and automatically liquidating a portion to meet tax liabilities. The total $1.03 million in sell value is entirely attributable to these mandatory withholdings, not to a strategic reduction in his CMPR stake. For investors, the takeaway is that insider activity here is administrative, not informational.
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