Shah Niraj

Shah Niraj, chief executive officer of Wayfair (W), has filed 99 Form 4 transactions across two companies, and the pattern is one-sided. His total sell value is $155.5 million, with zero open-market purchases and zero acquisitions. The recent activity, 21 sell transactions, all involve W shares. The largest cluster came on September 14, 2026, with nine separate sales totaling roughly $7.2 million. That followed an August 12, 2026 batch of five sales worth about $7.1 million, and an April 23, 2026 group of four sales totaling $7.5 million. Smaller sales appeared on April 24, 2026, and August 12, 2026, including one for $5,798.65. The selling is concentrated in W, but Shah also holds a position in NXDR. The NXDR filings are different in character. They show option exercises (code M) and a grant (code A) dated between May and June 2026, all with a value of zero. Those are mechanical or compensatory events, not open-market decisions. The W sales, by contrast, are all code S, meaning open-market sales. There is no code P purchase anywhere in the recent record, and the total buy value across all 99 filings is zero. The dollar figures on the W sales vary widely, from a $5,798.65 transaction to a $4.1 million sale on April 23, 2026. The September 14 cluster includes a $2.02 million sale and a $1.36 million sale. The direction is consistent: Shah has sold W shares in every recent filing, with no buys to offset them. The NXDR activity is limited to option exercises and awards, which do not change his cash position. The record shows a sustained sell bias in W over the last five months.