Tanda Stephan B.

Tanda Stephan B., President and CEO of both AptarGroup (ATR) and Ingredion (INGR), has filed 38 Form 4 transactions across the two companies, with a clear directional bias toward selling. The aggregate value of open-market sales reached $5.87 million, while no open-market purchases were recorded. The most recent transaction, an August 3, 2026 sale of ATR shares valued at $1.34 million, was paired with an option exercise of $735,784 on the same date—a common pattern where shares are acquired via options and immediately sold. This sale follows a series of ATR transactions in May 2026, including a $1.85 million tax-withholding event and a zero-value grant, indicating that the selling activity is largely tied to equity compensation cycles rather than discretionary portfolio shifts. The compensation-driven nature of the filings is evident across both tickers. For INGR, the activity consists exclusively of grants (code "A") valued at roughly $40,000 per quarter, plus two gifts in April 2026 with no monetary value. No INGR sales or purchases appear in the recent filing history. For ATR, the pattern is more complex: recurring zero-value grants, periodic tax-withholding sales (code "F") ranging from $134,119 to $1.85 million, and the single open-market sale in August. The total acquired value of $355,488 across all transactions is dwarfed by the $5.87 million in sales, but nearly all of that selling volume stems from option exercises and automatic tax withholdings—mechanical events that accompany vesting rather than discretionary bearish bets. The absence of any open-market purchase (code "P") in the entire filing history suggests the insider has not added shares at market prices in either company during the covered period.