Michels David Patrick 4

What Happened
David P. Michels, Chief Financial Officer of Kinder Morgan, sold 20,000 shares of KMI on January 22, 2026 at $30.00 per share, generating $600,000 in proceeds. This was a sale (not a purchase) and therefore typically viewed as routine insider selling rather than a direct bullish signal.

Key Details

• Transaction date and price: 2026-01-22 — 20,000 shares sold at $30.00 each.
• Total value: $600,000.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Report filed 2026-01-26; this meets the Form 4 two-business-day filing requirement for the 2026-01-22 trade.
• Footnote: Sale was effected pursuant to a Rule 10b5-1 trading plan adopted by Michels on February 19, 2025 that expires January 31, 2026 (pre-scheduled plan).

Context
The sale was executed under a 10b5-1 plan, which allows insiders to sell shares according to a preset schedule and is commonly used to avoid concerns about trading on nonpublic information. That structure typically makes such sales more routine; it does not, by itself, indicate the insider’s view on the company’s prospects.