Form 4: Cadre Holdings CEO and Chairman Warren B. Kanders Sells $3.3 Million in Company Stock Under Pre-Arranged Plan

Cadre Holdings, Inc.'s CEO and Chairman, Warren B. Kanders, reported the sale of 100,000 shares of common stock totaling approximately $3.3 million over two days in late May 2025, executed under a Rule 10b5-1 trading plan.

Summary

• Warren B. Kanders, who serves as CEO, Chairman, and a 10% owner of Cadre Holdings, Inc. (CDRE), reported the sale of 100,000 shares of the company's common stock.
• On May 27, 2025, Mr. Kanders sold 50,000 shares at a weighted average price of $33.11 per share, with transaction prices ranging from $32.79 to $33.41.
• On May 28, 2025, an additional 50,000 shares were sold at a weighted average price of $32.70 per share, with transaction prices ranging from $32.47 to $33.19.
• The total value of shares sold across these two transactions amounts to approximately $3,290,500.
• Following these sales, Mr. Kanders' indirect beneficial ownership through Kanders SAF, LLC decreased to 10,516,192 shares.
• Mr. Kanders also directly holds 45,584 shares, and indirectly holds 1,305,650 shares via his Roth IRA and 23,450 shares via Allison Kanders' Roth IRA (his spouse).
• The transactions were conducted pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged sale schedule.

Sentiment

Score: 4

Explanation: While the sales were conducted under a Rule 10b5-1 plan, which mitigates concerns about opportunistic insider trading, the sheer volume of shares sold by the CEO and Chairman could still be interpreted by the market as a signal that the insider views the stock as fully valued or is seeking to diversify personal holdings. This typically leads to a slightly negative or neutral market reaction.

Positives

• The sales were conducted under a Rule 10b5-1(c) plan, which indicates a pre-arranged trading plan designed to avoid accusations of insider trading and suggests the sales are for personal liquidity management rather than based on new, undisclosed material information.
• Despite the sales, Warren B. Kanders retains significant beneficial ownership in Cadre Holdings, Inc., demonstrating continued alignment with shareholder interests.

Negatives

• The sale of 100,000 shares by a key insider (CEO, Chairman, and 10% owner) could be perceived negatively by the market, potentially signaling that the insider believes the stock is fully valued or that they are diversifying their holdings.
• The total value of shares sold, approximately $3.3 million, represents a notable liquidity event for the insider.

Future Outlook

This Form 4 filing is a transactional report and does not contain forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This document is an insider transaction report and does not provide specific industry context or trends beyond the company's stock activity.

Related Party Transactions

• The reporting person's indirect beneficial ownership includes shares held by Kanders SAF, LLC (where the reporting person is the sole manager and member), Warren B. Kanders Roth IRA, and Allison Kanders Roth IRA (spouse of the reporting person). These are considered related party holdings.

Stakeholder Impact

• Shareholders may react with slight concern or neutrality to the insider selling, depending on their interpretation of the 10b5-1 plan and the insider's continued significant ownership.

Key Dates

Keywords

Cadre Holdings, CDRE, insider trading, Form 4, stock sale, Warren B. Kanders, beneficial ownership, 10b5-1 plan