Form 4: Cadre Holdings CEO and Chairman Warren B. Kanders Sells $819,500 in Company Stock

Cadre Holdings, Inc. CEO and Chairman Warren B. Kanders reported the sale of 25,000 shares of common stock for approximately $819,500, executed under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Warren B. Kanders, the CEO and Chairman, as well as a 10% owner and Director of Cadre Holdings, Inc. (CDRE), reported a transaction.
• On June 23, 2025, Mr. Kanders sold 25,000 shares of Cadre Holdings Common Stock.
• The shares were sold at a weighted average price of $32.78 per share, with prices ranging from $32.67 to $32.96.
• The total value of the shares sold amounts to approximately $819,500.
• The transaction was made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following the transaction, Mr. Kanders beneficially owns 10,216,192 shares indirectly through Kanders SAF, LLC, 45,584 shares directly, 1,305,650 shares indirectly through Warren B. Kanders Roth IRA, and 23,450 shares indirectly through Allison Kanders Roth IRA (his spouse).

Sentiment

Score: 5

Explanation: The sentiment is neutral. While an insider sale can be perceived negatively, the fact that it was conducted under a Rule 10b5-1 plan mitigates concerns that it's based on new, negative information, making it a routine, pre-planned event.

Positives

• The sale was conducted under a Rule 10b5-1 trading plan, which indicates the transaction was pre-scheduled and not based on new, non-public information, potentially mitigating negative market perception.

Negatives

• The transaction represents a reduction in direct beneficial ownership by a key executive and significant shareholder, which can sometimes be viewed negatively by investors.

Risks

• Investor perception risk: Despite being a pre-scheduled sale, any insider selling by a high-ranking executive and significant owner can lead to questions about management's confidence in the company's near-term prospects.
• Liquidity risk: While not directly stated, large insider sales can sometimes impact market liquidity if not absorbed smoothly.

Future Outlook

This Form 4 filing does not contain any forward-looking statements or guidance regarding the company's future performance or outlook.

Industry Context

Insider transactions, particularly sales by high-ranking executives, are closely watched by the market as they can sometimes signal management's perspective on the company's valuation or future prospects. However, sales executed under Rule 10b5-1 plans are pre-scheduled and are generally viewed as less indicative of future performance than unscheduled sales.

Related Party Transactions

• The beneficial ownership includes shares held indirectly through Kanders SAF, LLC (where the Reporting Person is the sole manager and member) and through Allison Kanders Roth IRA (Allison Kanders is the Reporting Person's spouse), indicating related party holdings.

Stakeholder Impact

• Shareholders: May interpret the sale as a reduction in insider confidence, though the 10b5-1 plan mitigates this. It could lead to short-term price volatility depending on market reaction.
• Employees: No direct impact mentioned.

Key Dates

Keywords

Cadre Holdings, CDRE, Warren B. Kanders, Insider Sale, Form 4, Stock Transaction, CEO, Chairman, 10b5-1 Plan, Beneficial Ownership