Thursday, · Edited by K. Song
The Spill
- Exercised, then sold. Tenable director A. Brooke Seawell exercised 115,000 options at $9.66 on Nov. 2 and sold 30,000 shares, $1,485,900, the same day. Story
- CEO sold under plan. CrowdStrike CEO George Kurtz sold 45,395 shares, about $11.2 million, on Nov. 2 and 3 under a plan adopted in January. Story
- $106.4 million in three days. Two LLCs run by Dutch Bros chairman Travis Boersma sold 2,388,812 shares from Nov. 2 to Nov. 4, 37.8% of the stake they held before. Story
About a four-minute read.
Tenable director exercised 115,000 options at $9.66 and sold 30,000 shares the same day
Filed Nov. 4, 2026, 7:12 p.m. ET · Published Nov. 4, 2026, 8:57 p.m. ET
Signal Check: Discretionary sale · $1,485,900 · Traded Nov. 2 → Filed Nov. 4 · 2 business days
Half from a trust. Seawell, a Tenable (TENB) director, exercised 115,000 vested options at $9.66 on Nov. 2 and sold 30,000 shares that day. The sales totaled $1,485,900, a 20.6% trim of the common stake he held before the trade.
The first 15,000 shares went at a weighted average of $50.33. The other 15,000 came out of a revocable trust at $48.73, and the trust shows zero shares afterward.
The insider filing (Form 4) was accepted Nov. 4 at 7:12 p.m. ET, two business days after the trade, inside the deadline. The pre-set trading plan (10b5-1) box is not checked.
He holds 115,292 shares directly after the trade. The form does not say why he sold.
Capitol Hill
No House or Senate trade report (PTR) cleared the bar on Nov. 4. The table gets the day off.
Insider Desk
No open-market insider buys cleared the bar on Nov. 4. Two planned sales did.
CrowdStrike (CRWD): CEO George Kurtz sold 45,395 shares under a January plan
Filed Nov. 4, 2026, 8 p.m. ET · Published Nov. 4, 2026, 8:37 p.m. ET
Signal Check: Planned sale (10b5-1) · about $11.2 million
0.6% of his stake. Kurtz sold 45,395 Class A shares across 29 rows on Nov. 2 and 3, at weighted averages from $240.93 to $252.60, and the form cites a pre-set plan adopted Jan. 16, 2026. He holds 7,296,109 shares after the trade, and the Form 4 was accepted Nov. 4 at 8 p.m. ET, one business day after the last sale.
Dutch Bros (BROS): chairman Travis Boersma's LLCs sold $106.4 million in three days
Filed Nov. 4, 2026, 8:20 p.m. ET · Published Nov. 4, 2026, 9:36 p.m. ET
Signal Check: Planned sale (10b5-1) · $106.4 million
37.8% of the stake. Two LLCs that Boersma manages, DM Trust Aggregator and DM Individual Aggregator, sold 2,388,812 shares from Nov. 2 to Nov. 4 at $44.06 to $45.14 a share, under plans each adopted Feb. 19, 2026. The LLCs hold 2,558,850 and 1,366,580 shares after the sales, Boersma disclaims ownership beyond his own interest in them, and the Form 4 was accepted Nov. 4 at 8:20 p.m. ET, the day of the last trade.
Hype Check
Micron Technology (MU): 250 mentions vs 51 · rank 3 → 1
Observed Nov. 5, 2026, 6:06 a.m. ET · Published Nov. 5, 2026, 6:35 a.m. ET
Mentions up 4.9x. Micron went from 51 to 250 r/wallstreetbets mentions and from No. 3 to No. 1 on ApeWisdom's tracker, observed Nov. 5 at 6:06 a.m. ET with 1,661 upvotes attached; the count includes comments over a rolling 24-hour window, and the tracker scans about twice an hour. Read the story → · ApeWisdom tracker
Attention is not buying.
The Other Side
Seawell's sale is smaller than the exercise next to it. He turned 115,000 options into shares at $9.66 and sold 30,000, and the form lists 115,292 shares held directly afterward. Those options carried an expiration date of Oct. 26, 2027, so exercising within the year is housekeeping as much as anything.
The filing met the two-business-day deadline. A director selling 20.6% of a stake on one day is a fact; what he thinks of Tenable at $50 is not on the form.
Term of the Day
STOCK Act. The 2012 law requiring members of Congress to disclose stock trades over $1,000 within 45 days. The disclosures are public, but a late filing carries only a $200 penalty.
Yesterday on MarketSpill
- Tenable's Seawell exercised 115,000 options at $9.66 and sold 30,000 shares that day.
- CrowdStrike's CEO sold 45,395 shares, 0.6% of his stake, under a January plan.
- Dutch Bros' chairman sold $106.4 million of stock in three days under a February plan.
- Micron Technology (MU) mentions on r/wallstreetbets went from 51 to 250 in a day.
Back tomorrow at 8 a.m. ET.
— K. Song, editor
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MarketSpill reads public filings with software and an editor; every item is checked against its source. Free forever: no paywall, no paid tier. Ads and sponsors pay for it and do not pick the stories. Not investment advice. Corrections: [email protected].