Chandhok Nikhil, Chief Product & Technology Officer at CRCL (Circular Inc.), has demonstrated a consistent pattern of selling activity over the past year, with no recent purchases reported in SEC filings. Since August 2025, Nikhil has executed 24 transactions—all involving CRCL—with total sales exceeding $33.7 million against $3.87 million in buys. The most recent transactions, including a $1.23 million sale on March 23, 2026, and a $1.8 million disposal on February 26, 2026, reinforce this trend. Notably, nine of these sales occurred in the past six months, with multiple seven-figure dispositions, such as a $2.96 million transaction on December 1, 2025, and a $6.35 million block sale in August 2025.
The filings also reveal recurring smaller transactions coded as "M" (likely option exercises) and "F" (tax withholdings), with the latter occurring monthly and ranging from $164,240 in October 2025 to $2.79 million in January 2026. While Nikhil retains a significant position in CRCL, the absence of any buys since at least mid-2025 suggests a deliberate reduction in exposure. The concentrated selling activity, particularly the clustering of large disposals in late 2025 and early 2026, contrasts sharply with the earlier $3.87 million in acquisitions, pointing to a clear directional shift in his holdings. No other equities appear in his reported transactions, underscoring an exclusive focus on CRCL.
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