LAZAR JACK R

Jack R. Lazar’s recent SEC Form 4 activity paints a clear picture of a seller, not a buyer. Across 49 filings spanning four companies, he has executed zero open-market purchases while recording roughly $9.38 million in sales, with no offsetting buy-side conviction. The overwhelming majority of that selling pressure has been concentrated in Astera Labs (ALAB), where a single-day cluster of 19 sale transactions on June 4, 2026, accounted for the bulk of the volume. Those ALAB sales ranged from small lots near $6,000 to individual dispositions exceeding $400,000, cumulatively approaching $3.7 million on that date alone. A separate $325,000 ALAB sale on March 16, 2026, shows the pattern was not isolated to one session. The selling bias is even more pronounced when considering the full dataset: 19 recent sell transactions versus zero recent buys, and total sell value of $9.38 million against a total acquired value of just $158,069.88 — the latter consisting entirely of compensation-related grants (code “A”) rather than discretionary purchases. Those grants arrived in the form of zero-value awards at GFS and BOX, plus modest equity compensation at REZI valued at roughly $31,860 on July 1, 2026, and $31,858 on April 1, 2026. The only non-sale transaction on the June 4 ALAB date was another code “A” grant valued at zero, underscoring that even on a day of heavy liquidation, Lazar’s only acquisition was non-cash compensation. Notably, Lazar’s Form 4 history contains no code “P” transactions — the only designation that signals open-market conviction buying. His activity is dominated by code “S” sales, with the ALAB cluster on June 4 representing a deliberate, large-scale reduction across dozens of separate executions. While the REZI and GFS grants indicate ongoing board or executive relationships, the transactional flow is unambiguously one-directional: Lazar has been monetizing his ALAB position aggressively in recent months, with no corresponding purchases anywhere in his portfolio. The data supports a straightforward read — this is an insider in distribution mode, not accumulation.