The Executive Buying Newsletter

Edition of Oct. 15, 2026. Open-market Form 4 purchases (code P) filed Sept. 24 to Oct. 15, 2026

Most insider buys are routine. The ones worth noticing come from insiders whose past buys turned out to be well timed. This edition covers three insiders who bought heavily in the last three weeks and whose earlier purchases were followed by big gains. All figures come from the SEC Form 4 filings. Prices are weighted averages as reported.

1. GameStop (GME): Ryan Cohen, President, CEO & Chairman

Recent buys: Cohen filed three purchases in the window:

·      Sept. 29: 450,000 shares at about $23.47 (≈$10.56M)

·      Oct. 2: 700,000 shares at $24.41 (≈$17.08M)

·      Oct. 13: 844,130 shares at $26.75 to $27.00 (≈$22.77M)

Together that is about 2.0M shares and roughly $50.4M. He now holds 42,492,652 shares.

Track record: In Dec. 2020 he bought 1,226,400 shares at an average of $15.51 pre-split (≈$3.88 split-adjusted), about $19.0M. GME closed at $86.88 split-adjusted on Jan. 27, 2021, more than 20x his cost. More recently, he bought 1,000,000 shares at $20.38 on Sept. 10, 2026. Five weeks later he was paying $27, about 33% higher, and GME closed at $27.15 on Oct. 14.

Why it matters: The CEO keeps adding at higher and higher prices, putting about $97M into the stock since Sept. 10. That suggests conviction, not a one-off buy on a dip.

Source: Form 4, Oct. 13, 2026 · OpenInsider GME

2. Kodiak Sciences (KOD): Baker Bros. Advisors, 10% Owner (Director Felix Baker)

Recent buy: On Sept. 28–29, Baker Bros. funds bought 1,941,755 shares at weighted prices from about $61 to $90 (≈$157.0M; average about $80.85). They reported the trades across three Form 4s filed Sept. 30. The two funds now hold about 21.9M shares.

Track record: On Dec. 18, 2025, Baker Bros. bought 2,608,696 KOD shares at $23.00 (≈$60.0M). Nine months later the shares were trading at $61 to $90, about 2.7x to 3.9x that price, and KOD closed at $81.09 on Oct. 14. Baker Bros. is a biotech specialist with a board seat, so it has unusual visibility into the company.

Why it matters: An informed holder committed more than 2.5x the size of its December purchase after the stock had already roughly tripled. Buying into strength like this usually means the insider sees more upside ahead.

Source: Form 4, Sept. 30, 2026 · OpenInsider KOD

3. Inhibrx Biosciences (INBX): Mark Lappe, CEO

Recent buys: Lappe bought through family trusts:

·      Sept. 25–28: 10,000 shares at $98.87 to $101.70 (≈$998,784)

·      Oct. 14: 10,040 shares at $84.07 to $85.76 (≈$848,977)

That adds up to about $1.85M, on top of 25,000 shares (≈$2.65M) he bought on Sept. 8.

Track record: Between Aug. 20 and Sept. 16, 2024, Lappe bought 164,000 INBX shares at $12.93 to $17.13 (≈$2.42M). INBX closed at $85.26 on Oct. 14, 2026, roughly 5x to 6.6x his cost.

Why it matters: The CEO who bought near the 2024 lows bought again with the stock about 25% below its early-September levels. He is adding on weakness rather than taking profits.

Source: Form 4, Oct. 14, 2026 · OpenInsider INBX

Prices from SEC Form 4 filings; closing prices from Yahoo Finance. This newsletter is for informational purposes only and is not investment advice.

Disclosure: Past performance is not indicative of future results. Prior insider purchases and subsequent stock gains do not guarantee similar outcomes. Executive Buying Capital LP may own positions in one or all of the securities mentioned in this newsletter.