Butier Mitchell R

Butier Mitchell R, Executive Chairman of both Kroger (KR) and Avery Dennison (AVY), has filed 64 Form 4 transactions across the two companies, with a pronounced sell-side bias. Over the tracked period, his open-market sales totaled $29.4 million, while he recorded zero open-market purchases and no acquisitions of shares through grants or option exercises. The recent activity is concentrated entirely in AVY, where 21 sell transactions occurred between March 5 and March 12, 2026. These sales ranged from small dispositions of roughly $9,100 to substantial blocks exceeding $2.3 million, with the largest single-day totals on March 11, when three sales brought in approximately $3.5 million, and March 9, when four sales added another $3.5 million. The cumulative value of these March sales alone exceeds $17 million, indicating a deliberate and sustained reduction of his AVY stake over a single week. Notably, the pattern in AVY is not purely mechanical. While some of the March transactions were coded as open-market sales (S), the most recent filings for both KR and AVY show only compensation-related awards (A) with zero dollar value, and a single option exercise (M) in AVY on May 1, 2026, valued at $289,149.63. This exercise was immediately followed by no corresponding sale, suggesting the shares were retained. The absence of any open-market purchases across both tickers, combined with the heavy selling in AVY, points to a clear directional bias: Butier is monetizing his equity in Avery Dennison while holding his Kroger position static. The sales are clustered and large, which often reflects portfolio rebalancing or liquidity planning, but the data itself shows no buying conviction in either company during the reporting window.