Hans Lindsay D.

Hans Lindsay D., President of Merrill Wealth Management, has demonstrated a consistent pattern of selling Bank of America (BAC) stock over the past two years, with no recorded purchases. SEC Form 4 filings reveal 32 transactions totaling over $2 million in sales, all concentrated in BAC. The most significant activity occurred on February 15, 2025, when Lindsay executed multiple sales worth $259,360, $146,468, $219,30, $45,363, $478,945, $75,276, and $238,744—collectively accounting for the bulk of the reported transactions. Earlier sales included a $105,855 disposition on February 15, 2024, followed by smaller transactions of $15,672 and $32,502 the same day. More recent filings show continued but reduced activity, with sales of $21,920 and $24,779 in August and November 2025, respectively. The filings indicate Lindsay’s transactions are tied to periodic dispositions, likely related to vesting events or prearranged trading plans (coded "F" for tax liability or "M" for open market transactions). The absence of any buys suggests a long-term divestment strategy rather than active trading. While the sales span a range of values—from under $16,000 to nearly $480,000—the consistency in direction and timing points to structured unwinding rather than discretionary market moves. Notably, all transactions involve BAC, reflecting Lindsay’s exclusive focus on his employer’s stock. The lack of recent activity beyond November 2025 leaves the current position unclear, but the historical data underscores a clear sell-side bias.