Insider Trading: Illumina Director Sells $85M in Stock, Welltower Board Member Buys $2.4M

A series of regulatory filings disclosed Thursday revealed significant stock transactions by corporate insiders, including multi-million dollar sales at Illumina and Lumentum and a substantial purchase by a director at Welltower.

Notable Insider Purchases

Several executives and directors made significant open-market purchases, often interpreted by investors as a sign of confidence in their company's future prospects.

• Welltower Inc. (NYSE:WELL): Director Andrew Gundlach acquired 10,000 shares over two days for a total of $2,407,650. The purchases were made as the stock trades near its 52-week high, according to the source data.
• American Assets Trust, Inc. (NYSE:AAT): Executive Chairman Ernest S. Rady purchased 79,729 shares for approximately $1.82 million across two transactions on August 24 and August 26.
• Keurig Dr Pepper Inc. (NASDAQ:KDP): Director Aaron E. Alt bought 7,862 shares for a total of $250,247 on August 25.

Significant Insider Sales

On the sell side, several large dispositions were reported, with many executed under pre-arranged trading plans.

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• Illumina, Inc. (NASDAQ:ILMN): Director Keith A. Meister sold 375,541 shares in a series of transactions between August 25 and August 27. The total value of the sales amounted to approximately $85.2 million.
• Lumentum Holdings Inc. (NASDAQ:LITE): Executive Vice President Vincent Retort sold 38,604 shares for a total of approximately $32.96 million. The filing noted this was executed under a Rule 10b5-1 trading plan adopted in November 2025.
• CoreWeave, Inc. (NASDAQ:CRWV): CEO and President Michael N. Intrator sold 307,692 shares for roughly $27.3 million. These sales were also conducted pursuant to a pre-arranged Rule 10b5-1 plan.
• Tempus AI, Inc. (NASDAQ:TEM): CEO and Chairman Eric P. Lefkofsky disposed of 238,052 shares, netting approximately $16.3 million under a Rule 10b5-1 plan established in March 2026.
• Mercury Systems Inc. (NASDAQ:MRCY): Chairman and CEO William L. Ballhaus sold stock valued at over $14 million on August 25 and 26, following the exercise of employee stock options.

Context for Investors

Market participants monitor insider trading for signals about a company's health and valuation. While substantial purchases can indicate strong belief from leadership, sales are not always a negative indicator. Executives may sell shares for personal financial planning, diversification, or tax purposes.

Transactions conducted under Rule 10b5-1 plans are particularly noteworthy. These plans are established in advance, allowing insiders to sell a predetermined number of shares at a predetermined time. This structure provides an affirmative defense against accusations of trading on non-public information and means the sales may not reflect an executive's immediate outlook on the company.