Peter R. Kellogg has filed 59 Form 4 transactions, all in a single company, Mercer International (MERC), and every one of them is an open-market purchase. The total buy value across all filings is roughly $6.3 million, with zero sales, zero option exercises, and zero grants. The pattern is one-directional: he has accumulated MERC shares steadily, and the buying has accelerated in recent months.
The recent trades, all coded "P" for open-market purchase, cluster in two waves. In November 2025, Kellogg made four purchases totaling about $767,750, with the largest single transaction at $336,000 on November 12. Then, after a six-month gap, he resumed buying in May 2026 with a series of larger transactions: $366,510 on May 18, $203,583.50 on May 15, and $176,220 on May 14. The pace picked up again in June, with daily purchases from June 1 through June 12, including $116,946.40 on June 11 and $33,501.60 on June 12. The June trades are smaller individually, ranging from $181.70 to $32,371.20, but they are frequent, suggesting a systematic accumulation rather than a one-off position.
The most recent 25 trades are all purchases, and the dollar values show no selling bias at any point in the filing history. The total acquired value is zero, meaning Kellogg has not received shares through compensation or exercised options; every share came from his own cash outlay. The concentration in a single ticker, with repeated purchases over a seven-month window, indicates a sustained commitment to MERC. The filings do not specify his title or role, but the transaction pattern is unambiguous: he has been a consistent net buyer, with no disposals recorded.
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