HEARTY JAMES O

Hearty James O, Chief Compliance Officer at DaVita Inc. (DVA), has filed 41 Form 4 transactions over the past year, all concentrated in a single ticker. The pattern is unambiguous: zero open-market purchases and zero acquisitions for value, against $11.4 million in total sales. The selling bias is pronounced, with the most recent activity clustering in May 2026, when three transactions—two open-market sales and one disposition to the issuer—totaled roughly $3.9 million. The largest single sale came on May 15, 2026, at $2.9 million, following a $381,916 sale on May 6. The remaining transactions are largely mechanical or compensatory. A series of "A" codes (grants or awards) and "F" codes (shares withheld for tax) appear throughout March 2025 and March 2026, reflecting routine equity compensation cycles rather than discretionary trading. Similarly, the "M" (option exercise) and "D" (sale back to issuer) pairs on May 14, 2026, and December 4, 2025, are offsetting—each exercise value nearly matches the corresponding disposition, indicating a cashless exercise rather than a directional bet. The tax-withholding events, including a $1.35 million "F" on March 15, 2026, further underscore that most activity is administrative. The discretionary component—the open-market "S" codes—tells a consistent story. Across the three recent sales (May 6, May 15, and July 23, 2025), Hearty has realized approximately $3.6 million in cash, with no corresponding purchases. This is a clear net-selling posture, though the volume is modest relative to total compensation-driven activity. The absence of any "P" codes in the entire filing history confirms that Hearty has not used personal capital to acquire DVA shares during this period, a notable contrast to the steady stream of sales.