Boston Shoemake Alicia R., general counsel of TTI, has filed 37 Form 4 transactions over the past year, all in a single company, with a pronounced sell-side bias. Her total disclosed sales reached $152,962.60, while she recorded zero open-market purchases and zero acquisitions through grants or exercises during the period. The most recent activity, however, consists entirely of automatic, non-discretionary events: on March 14, 2026, she had $106,868.22 in shares withheld to cover taxes (code F) alongside a zero-value option exercise (code M), and similar F-code withholdings occurred on February 28 and February 25, 2026, totaling $66,205.70 and $68,399.60, respectively. These are mechanical transactions tied to equity compensation, not directional bets.
The last discretionary trades were open-market sales on November 10, 2025, when she sold TTI shares in two tranches worth $104,433.43 and $48,529.17, paired with option exercises valued at $50,755.05 and $43,853.88. That pattern—selling immediately after exercising options—is consistent with a liquidity-driven approach rather than a bearish signal, but it does underscore that her only voluntary market activity in the trailing year was on the sell side. Earlier in 2025, her filings were dominated by zero-value grants (code A) and F-code tax withholdings, with no purchases at any point.
The data reveal a compensation-heavy insider profile: she accumulates shares through awards and exercises, then sells to cover taxes or realize gains, but never buys on the open market. The absence of P-coded purchases across 37 filings suggests she is not adding to her position at current prices, while the recent cluster of F and M codes indicates her equity is vesting on a regular schedule. For investors monitoring insider conviction, the takeaway is neutral-to-cautious: no fresh capital is flowing in, and the only voluntary trades are sales, though they are modest in size relative to her overall holdings.
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