Tarbert Heath 4

What Happened

• Tarbert Heath, President of Circle Internet Group (CRCL), sold a total of 15,000 shares on March 13, 2026 in multiple open-market transactions under a 10b5-1 trading plan. The six tranches were:
  • 2,737 shares @ $113.80 = $311,471
  • 2,941 shares @ $114.73 = $337,421
  • 2,868 shares @ $115.62 = $331,598
  • 1,424 shares @ $116.75 = $166,252
  • 3,220 shares @ $117.79 = $379,284
  • 1,810 shares @ $118.58 = $214,630
• Total proceeds from these disposals were approximately $1,740,656. This is a sale (not a purchase), and because it was executed under a 10b5-1 plan it is typically a pre-established, rule-compliant program rather than an ad-hoc market-timing action.

Key Details

• Transaction date: March 13, 2026 (reported on Form 4 filed March 16, 2026).
• Prices: tranche weighted averages ranged from $113.80 to $118.58 (individual footnotes report underlying price ranges within each tranche).
• Shares owned after transaction: 77,102 shares of Class A common stock held outright and 507,054 shares subject to restricted stock units (per filing footnote).
• Notable footnotes: sale executed pursuant to a 10b5-1 trading plan (F1); F2–F7 provide per-tranche price ranges and weighted averages; F8 details post-transaction holdings.
• Filing timeliness: Reported within a few days of the transaction (no late filing flag).

Context

• Sales under 10b5-1 plans are common for insiders to systematically sell shares and are not by themselves strong indicators of sentiment. Purchases typically carry more weight for signaling confidence, while routine sales often reflect diversification, tax planning, or scheduled liquidity.
• The reporting separates outright shares from RSUs; RSUs are not immediately tradable until they vest, so the reporting person still has substantial future exposure through those restricted units.