LEATHERS DEREK J

Leathers Derek J., CEO and Chairman of Werner Enterprises (WERN), has maintained a consistently bullish posture in his open-market activity, with zero sell transactions recorded across 51 total filings. The pattern is unambiguous: every discretionary trade is a purchase, and the only sell-side activity consists of automatic "F" codes—shares withheld to cover tax obligations on equity compensation. Over the tracked period, Leathers has accumulated $63,150 in open-market buys, a modest but steady drip of capital deployed in roughly $2,400 to $5,900 increments, often in paired same-day transactions. The buying cadence is notable for its regularity. Leathers executed open-market purchases in April, May, July, and October of 2025, with the most recent cluster arriving on October 23, 2025, when he bought $2,507 worth of WERN shares in two separate transactions. The July 7, 2025 purchase of $5,016.15 and the October 3, 2025 buy of $5,852.67 represent his largest single-day outlays, suggesting a willingness to add size when conviction is high. These purchases stand in stark contrast to the mechanical "F" transactions, which have extracted far larger sums—$329,144 on February 13, 2026, and $261,261 on February 9, 2026—but reflect payroll tax mechanics rather than investment decisions. Leathers also holds a position in SkyWest (SKYW), though his only recent activity there is a May 5, 2026 grant (code "A") with no dollar value, indicating compensation rather than a market signal. The overall picture is one of a founder-CEO who consistently puts personal capital behind his company's stock while never trimming his position in the open market. The absence of any "S" or "D" codes across all 51 filings reinforces a clear directional bias: accumulation only.