Form 4: Wabtec CEO Sells $787K in Stock Under 10b5-1 Plan

Wabtec's President and CEO, Rafael Santana, sold 3,596 shares of common stock for approximately $787,471 across multiple transactions on January 5th and 6th, 2026, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• Rafael Santana, President and CEO, and a Director of Westinghouse Air Brake Technologies Corp (WAB), reported sales of common stock.
• A total of 3,596 shares of common stock were sold in multiple transactions on January 5th and 6th, 2026.
• The sales were executed under a Rule 10b5-1(c) contract, instruction, or written plan, indicating they were pre-planned.
• The shares were sold at weighted average prices ranging from $217.3123 to $222.0988 per share.
• The total approximate value of the shares sold is $787,471.48.
• Following these transactions, Rafael Santana directly beneficially owns 120,547 shares of common stock.

Sentiment

Score: 5

Explanation: The sale of shares by the CEO is generally viewed as a neutral to slightly negative signal, though the execution under a Rule 10b5-1 plan mitigates concerns of opportunistic selling, making it an expected, pre-scheduled event.

Positives

• The sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which suggests the transactions were scheduled and not based on immediate, non-public information, mitigating concerns of opportunistic selling.

Negatives

• Insider selling, even when pre-planned, can sometimes be perceived negatively by the market as it reduces management's direct equity exposure to the company.

Future Outlook

NA

Industry Context

This filing is specific to an insider transaction and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders may interpret the insider sale as a reduction in management's direct alignment with shareholder interests, although the 10b5-1 plan suggests a pre-determined, non-event-driven sale.

Key Dates

Recommendation

While insider selling can be a negative signal, these transactions were executed under a Rule 10b5-1 plan, indicating they were pre-scheduled and not necessarily reflective of new negative information. Investors should monitor future insider activity and company fundamentals rather than reacting solely to this planned sale.

Keywords

Wabtec, WAB, Insider Sale, Form 4, Rafael Santana, CEO, Stock Sale, 10b5-1 Plan, Beneficial Ownership