Feldman Andrew D., CEO and President of CBRS, has filed 74 Form 4 transactions, all in that single company. The pattern is one-sided: total sell value reached $63.9 million, with zero open-market purchases and zero acquisitions reported. The recent activity, spanning late August through early September 2026, shows 17 sell transactions, all coded S for open-market sales, clustered heavily on September 4.
That single day produced 15 separate S filings, ranging from $21,662 to $1.57 million. The largest individual sale was $1,575,952.15, followed by $1,411,342.79 and $1,297,729.23. Combined, the September 4 sales totaled roughly $7.6 million. On August 21, Feldman reported a sale of $959,502.84 alongside a smaller $1,261.26 transaction. The September 4 cluster also included option exercises (code M) and conversions (code C), both valued at zero, which typically precede the sales. The August 24 filing was a code J transaction, also at zero value.
The selling bias is unambiguous. Over the entire filing history, Feldman has not recorded a single purchase. The recent direction is consistent with the broader record: concentrated sales in CBRS, with no offsetting buys. The dollar figures are substantial, and the frequency of sales on September 4 suggests a deliberate liquidation of a large position. The filings do not indicate any open-market buying at any point in the observed period.
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