Topalian Leon J

Topalian Leon J, who serves as Chair, President, and CEO, has been an active seller of shares in two industrial names over the past year, with no open-market purchases on record. Across 37 total Form 4 transactions, he has disposed of approximately $21.8 million in stock, entirely through sales in Nucor (NUE) and PPG Industries (PPG). The selling bias is unambiguous: the most recent open-market sales occurred on May 15, 2026, when he offloaded NUE shares in four tranches totaling roughly $11.8 million, and again on March 23, 2026, with two additional NUE sales worth about $1.9 million. A smaller sale of $789,950 in NUE took place on December 19, 2025. Notably, there are zero "P" (purchase) codes in his filing history, meaning all disposition activity is one-directional. The transaction pattern is dominated by compensation-related mechanics rather than discretionary buying. The largest recent events include a series of "F" codes on June 1, 2026, where shares were withheld to cover tax obligations—totaling approximately $4.4 million in NUE—alongside "A" grants of zero-value awards. On the acquisition side, Topalian has received about $1.78 million in total value, almost entirely from option exercises and restricted stock grants, including a $2.2 million "M" exercise in NUE on May 15, 2026, and $345,305 in "A" grants on March 10, 2026. His PPG activity is limited to small quarterly "A" awards (e.g., $1,919 on June 12, 2026, and $870 on March 12, 2026), with no sales in that ticker. The data reveals a consistent pattern of monetizing equity compensation rather than accumulating additional exposure. While the "S" transactions in NUE are substantial—averaging over $1.5 million per sale—they are paired with option exercises and tax-withholding events, suggesting a systematic approach to converting vested awards into cash. The absence of any open-market purchases across both companies, combined with the steady cadence of sales, points to a net reduction in his beneficial ownership over the trailing twelve months.