Sumner Crystal's Form 4 history shows a one-sided pattern: 83 transactions, all in a single company, with zero open-market purchases and roughly $489,477 in total sales. The recent activity clusters around MQ, with the most significant filings dated September 1, 2026. That day included two open-market sales, one for $20,337.50 and another for $19,656.21 on June 15, 2026. The rest of the September filings were option exercises (code M, valued at $0) paired with automatic share withholdings to cover taxes (code F), which ranged from $13,582.80 to $128,211.93.
The tax-withholding transactions are mechanical, not discretionary sales. They occur when Crystal exercises options and the issuer retains shares to satisfy the tax obligation. The two code S transactions, however, are actual open-market sales, and they are the only ones in the recent window. No code P purchases appear anywhere in the filing history, meaning Crystal has not bought MQ shares on the open market during the tracked period.
The aggregate figures reinforce the bias. Total buy value is $0, total acquired value is $0, and total sell value is $489,477.47. The recent sell count is two, both in MQ, and the recent buy count is zero. The data shows a seller, not a buyer, with all discretionary activity on the disposal side. The option exercises and tax withholdings add volume but no new capital, and they do not change the directional picture.
AI-assisted summary