 The Largest Insider Purchase of the Year: Bill Ackman and the Entire Pershing Square USA Team Buy Their Own Shares Yesterday, OpenInsider recorded anomalous activity under the ticker PSUS — the entire C-suite of Bill Ackman's company simultaneously increased their positions. In total, top management invested ~$311 million of their own funds. Key transactions: • Bill Ackman (CEO) — bought 4.9 million shares at $49.18 for $241 million • Ryan Israel (CIO) — +500,000 shares at $50 (new stake) • Ben Hakim (Pres) — +350,000 shares (new) • Nicholas Botta (Trustee) — +250,000 shares (new) • Halit Coussin (CCO) — +200,000 shares (new) • Michael Gonnella (CFO) — +100,000 shares (new) What does this mean? When the entire team — from CEO to secretary — synchronously buys shares at $49-50, it is the strongest signal of confidence. Pershing Square USA is Ackman's recently listed investment company, and such a volume of purchases indicates that management considers current levels attractive. Other notable transactions: • Avalyn Pharma (AVLN) — investment fund + director bought $15 million at $18 • S&P Global (SPGI) — CEO Martina Cheung bought $1 million (rare purchase by a head) • GE Healthcare (GEHC) — CFO +$200K • Textron (TXT) — director +$988K • International Paper (IP) — director +$313K Conclusion: The mass purchase of PSUS is an event worth tracking. When top management votes with their money, the market usually listens. #InsiderTrading #PSUS #PershingSquare #BillAckman #InsiderPurchases