Hagan Mark E, EVP and Chief Investment Officer, has demonstrated a consistent pattern of selling activity in Realty Income Corporation (O) shares, with no recorded purchases across 23 transactions disclosed in SEC Form 4 filings since December 2023. The transactions, totaling over $3.16 million in sales, reveal a clear divestment trend concentrated in O, the only company in which he has reported trades. Notably, the largest single sale occurred on December 31, 2025, valued at $453,891.24, followed by a $442,889.37 transaction on March 14, 2025. Smaller but frequent sales appear clustered around quarterly periods, including multiple transactions on February 15, 2026 ($95,141.34 and $86,802.52) and January 1, 2026 ($63,641.73 and $43,743.12), suggesting potential systematic liquidation tied to compensation or vesting schedules.
The absence of any buy transactions—coupled with the repeated disposition of shares through code "F" (indicating tax liability settlements or similar mandatory transactions)—points to an ongoing reduction in Hagan’s position rather than discretionary trading. While the filings include several code "A" (award) transactions with zero reported value, likely reflecting equity grants, the monetization of these awards through subsequent sales remains the dominant theme. The most recent activity, a $541,295.09 sale on February 17, 2026, reinforces this pattern, though no trades have been reported in the months since. The data reflects a disciplined, multi-year unwinding of holdings in O without counterbalancing acquisitions.
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