Thomas M. Siebel, Executive Chairman of C3.ai (NYSE: AI), has demonstrated a pronounced selling bias in his recent insider transactions, with no recorded purchases since at least December 2025. Over 49 reported transactions, his total sales exceed $91.2 million, dwarfing his $2.5 million in buys—a ratio of nearly 36:1 in dollar terms. His activity has intensified recently, with 11 sales in 2026 alone, including a $5.97 million disposition on February 10 and two multi-million-dollar transactions totaling $7.06 million on January 13. The March 2026 filings show continued divestment, with $1.9 million and $2.5 million sales on March 17-18 accompanied by smaller market purchases (coded "M") likely tied to option exercises.
Siebel's transactions follow a pattern of periodic, high-value sell orders concentrated in C3.ai stock, with no diversification across other securities. The sales occur in clusters—December 2025, January 2026, and March 2026—suggesting a structured approach to reducing exposure. While some filings include nominal $0 value transactions (coded "G" and "A"), likely representing gifts or administrative adjustments, the overwhelming direction is toward liquidation. The consistency of sales across multiple quarters, without offsetting buys, indicates a sustained effort to monetize holdings rather than temporary portfolio rebalancing.
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