Oliver G. Brewer III, President and CEO, has demonstrated a consistent pattern of selling activity across two companies—Calyxt, Inc. (CALY) and Topgolf Callaway Brands Corp. (MODG)—with no recorded purchases in his 53 reported transactions. His total sales amount to approximately $7.45 million, with the majority of the value concentrated in a few key transactions. In March 2025, Brewer sold $1.06 million worth of MODG shares, followed by a smaller sale of $54,467 in February of the same year. More recently, his activity shifted to CALY, where he executed sales totaling $1.03 million on March 14, 2026, preceded by earlier transactions of $309,866 and $171,710 in February 2026.
The filings indicate that Brewer’s transactions are primarily disposition-based, with no offsetting buys. Many of the reported trades, particularly those marked with transaction code "G," reflect gifts or other non-sale transfers with no reported value. However, the monetized sales—especially the seven-figure MODG and CALY transactions—suggest a deliberate reduction in holdings. While the reasons for these sales are not disclosed, the pattern underscores a clear divestment trend across both companies over the past year, with no recent activity suggesting a reversal in this approach.
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