Fendley Steven S. 4

What Happened
Steven S. Fendley, President — U.S. Division of Kratos Defense & Security Solutions (KTOS), sold a total of 7,000 shares in two open-market transactions on January 26, 2026. The sales were: 2,968 shares at an average price of $107.28 for proceeds of $318,393, and 4,032 shares at an average price of $108.49 for proceeds of $437,431 — total proceeds about $755,824. These were sales (not purchases), and therefore are typically viewed as routine insider selling rather than a direct bullish signal.

Key Details

• Transaction date: January 26, 2026 (filed Jan 28, 2026 — timely filing).
• Trades: 2,968 shares @ weighted avg $107.28 (prices ranged $106.85–$107.69); 4,032 shares @ weighted avg $108.49 (prices ranged $108.22–$108.62).
• Total shares sold: 7,000; total proceeds: ~$755,824.
• Reporting code: S = Sale.
• Footnote: Transactions were effected under a 10b5-1 trading plan adopted May 12, 2025.
• Holdings after transaction: Not specified in the excerpt provided; filing notes ~2,285 shares held through the issuer’s 401(k) plan.

Context
A 10b5-1 plan means the sales were pre-arranged under a trading plan adopted earlier (May 12, 2025), which is commonly used by insiders to sell shares on a scheduled basis and helps establish that trades were not based on material nonpublic information. Sales are generally less informative than purchases about insider sentiment; this filing documents routine disposition under the plan.