Vincent Roche, Chair and CEO of Analog Devices (ADI), has filed 85 Form 4 transactions, all in that single company. The pattern is one-sided: no open-market purchases, no acquisitions, and $84.4 million in total sales. The recent trades, spanning February through August 2026, show a steady cadence of monthly open-market sales, each paired with an option exercise (code M) of roughly $944,000 to $1.08 million. The sales range from $2.6 million to $11.6 million, with the largest single sale, $11,640,216.01, occurring on May 22, 2026. Two additional sales that same day brought the total to $15.9 million, and a separate May 26 sale added $12.4 million. The monthly pattern is consistent: sell shares, exercise options, and occasionally have shares withheld for tax (code F), as seen on March 16 and March 30, 2026, with values of $5.2 million and $8.2 million respectively.
The selling bias is clear. Roche has sold ADI stock in every month from February through August 2026, with the largest concentration in late May. The option exercises (code M) appear mechanical, tied to the same date as each sale, and the tax-withholding events (code F) are automatic. The only code that shows conviction, open-market purchase (P), never appears. The total sell value of $84.4 million over 85 trades, with zero buys, indicates a consistent monetization of ADI equity. The recent activity, with 11 sales in the last six months, shows no sign of slowing.
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