Brian Mitts has filed 54 Form 4 transactions across four companies, with a total sell value of $1,820,686.25 and no open-market purchases on record. The pattern is one of near-total liquidation. Every trade with a dollar value attached is a sale, and the zero-value transactions are overwhelmingly mechanical: option exercises (code M), shares withheld for tax (code F), grants (code A), and sales back to the issuer (code D). There is no code P anywhere in the filing history, meaning Mitts has not used his own cash to buy a single share in any of the four tickers during the reporting period.
The recent activity clusters around three tickers: NXDT, NXRT, and NREF, plus a fourth listed as NA. The largest recent cash event was a tax-withholding sale on April 11, 2026, in the NA ticker, valued at $59,536.62. That was followed by a $32,705.28 withholding sale in NREF on April 4, and a $12,067.32 withholding sale in NXDT the same day. A second NA transaction on April 3 brought in $27,532.69. The pattern in late spring 2026 shifts to non-cash events: grants and option exercises in NXDT on June 2 and June 10, and a sale back to the issuer plus option exercise in NXRT on May 22.
The direction is consistent. Mitts is not accumulating equity; he is monetizing it. The dollar values come almost entirely from automatic tax-withholding sales, not discretionary trades, but the cumulative effect is the same: his disclosed holdings in these four companies have been reduced by more than $1.8 million in cash proceeds. The absence of any purchase code, even a small one, distinguishes this filing history from an insider who periodically adds to a position.
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