Wray Michael, SVP/GM of Precast Infrastructure, has exclusively engaged in selling activity involving shares of Northwest Pipe Company (NWPX) since at least early 2025, with no recorded purchases across 45 reported transactions. The transactions, primarily coded as "F" (indicating sales of shares acquired through equity compensation), show a consistent pattern of divestment concentrated around quarterly intervals in January, March, and September. Notable sales include three transactions on January 15, 2026, totaling $77,443.86 ($22,304.94, $26,253.33, and $28,885.59), followed by larger dispositions on March 31, 2025, amounting to $145,086.90 across three filings ($54,061.70, $49,601.30, and $41,423.90). Earlier that year, on January 15, 2025, Michael sold $54,401.88 worth of shares in three increments ($18,344.82, $20,193.90, and $15,863.16).
The absence of any buy transactions—with a total sell value of $386,625.52—suggests a sustained reduction in Michael's NWPX position over time. The activity appears systematic, often involving multiple same-day filings likely tied to vesting schedules or planned sales. While the transactions represent a clear divestment trend, they do not indicate abrupt liquidation, as the sales are spaced months apart and involve varying amounts. The most recent activity, two "A"-coded (award) transactions on March 12, 2026, with no reported value, suggests continued equity grants without immediate monetization. Michael's trading history reflects a disciplined approach to reducing exposure to NWPX shares acquired through compensation, though the retained stake size remains unclear without ownership disclosure.
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