DIORIO CHRIS PH.D.

Chris Diorio, Ph.D., CEO of Impinj (ticker: PI), has been a consistent seller of the company’s stock over the past year, with no open-market purchases recorded in his SEC Form 4 filings. Across 65 total transactions, Diorio has disposed of shares worth approximately $7.35 million, while acquiring $28.2 million in value—almost entirely through a single non-cash event. That $28.2 million figure, dated May 26, 2026, corresponds to a code “J” transaction, which typically reflects a conversion or other value-neutral adjustment rather than a discretionary buy. His acquisition activity otherwise consists of routine option exercises (code “M”) and stock awards (code “A”), which carry no cash outlay and are standard executive compensation mechanics. The selling pattern is dominated by automatic dispositions rather than open-market sales. The largest recent cash event was a $951,085.20 tax-withholding transaction on February 20, 2026, followed by a $410,448.43 withholding on September 23, 2025, and a $381,473.82 withholding on December 23, 2025. These “F” code transactions occur when shares are surrendered to cover tax liabilities on vested options or restricted stock, and they are not discretionary trades. Diorio also executed a $526,400 option exercise on October 30, 2025, and a smaller $157,606.40 exercise on September 18, 2025, both of which add shares to his holdings before the tax withholdings reduce them. Notably, there are no code “S” open-market sales in the recent filings, and no code “P” purchases—meaning his net cash flow from trading is entirely outbound, driven by compensation-related mechanics rather than active portfolio decisions. The most recent filings show a mix of gifts (code “G”) and further option exercises, with a $149,888.34 tax withholding on June 23, 2026, and a gift on July 13, 2026. Diorio’s activity is typical of a long-tenured executive whose equity compensation vests on a schedule, triggering automatic sales to cover taxes. The absence of open-market buying or selling suggests he is not actively timing the market, but the consistent six-figure withholdings indicate a steady reduction in his net position as his options mature. For investors, the takeaway is that Diorio’s insider activity reflects compensation mechanics, not a directional bet on Impinj’s stock price.