Porcelli Francis Michael 4

What Happened
Director Francis Michael Porcelli sold a total of 125,000 Smart Sand (SND) shares in two reported transactions. On 2026-03-09 he disposed of 50,000 shares at a weighted average price of $3.78 (proceeds $189,000; prices in the batch ranged $3.76–$3.83). On 2026-03-10 he disposed of 75,000 shares at a weighted average price of $3.87 (proceeds $290,250; prices in the batch ranged $3.83–$3.95). Total proceeds across both sales were $479,250. These were sales (S), not purchases.

Key Details

• Transaction dates: 2026-03-09 (50,000 shares at $3.78 weighted avg) and 2026-03-10 (75,000 shares at $3.87 weighted avg).
• Aggregate shares sold: 125,000; aggregate proceeds: $479,250.
• Transaction type: Reported as sales (Code S), described as open-market or private sales on the Form 4.
• Footnotes: F1 and F2 note the reported prices are weighted averages from multiple trades — ranges were $3.76–$3.83 (F1) and $3.83–$3.95 (F2). The filer offers to provide a breakdown of quantities at each price on request.
• Filing: Form 4 filed 2026-03-10 (Period of Report shows 2026-03-09). This filing appears to be within the typical 2-business-day Form 4 reporting window.
• Shares owned after transaction: Not specified in the information provided in this summary; check the full Form 4 for post-transaction holdings.

Context
Insider sales are common and can reflect liquidity needs or portfolio rebalancing; they are not, by themselves, a definitive signal about company prospects. Purchases by insiders are generally more indicative of bullish sentiment. For full detail, consult the filer’s complete Form 4 on the SEC EDGAR database to see holdings before/after the trades and any additional notes.