The Executive Buying Newsletter — Nov. 1, 2026

Edition of Nov. 1, 2026. Open-market Form 4 purchases (code P) filed Oct. 11 to Nov. 1, 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. Scholar Rock (SRRK): Srinivas Akkaraju, Director (Samsara BioCapital)

Recent buys: Akkaraju bought through two Samsara funds and reported the trades on one Form 4 filed Oct. 27:

• Oct. 23: 142,500 shares at about $41.31 to $41.82 (~$5.89M)

• Oct. 26: 146,970 shares at about $41.59 (~$6.11M)

Together that is 289,470 shares and roughly $12.0M. The two funds now hold about 7.1M shares.

Track record: On Oct. 16, 2023, Akkaraju's Samsara bought 2,189,781 SRRK shares at $6.85 (~$15.0M). SRRK closed at $43.90 on Oct. 30, 2026, about 6.4x that price, and it reached $60.04 at the close on Aug. 26, 2026. He added another 500,439 shares at about $37.58 (~$18.8M) on Oct. 3, 2025, which are up about 17%.

Why it matters: A biotech specialist with a board seat keeps adding. This time he bought after the stock had pulled back about 30% from its August high.

Source: Form 4, Oct. 27, 2026 · OpenInsider SRRK

2. MSC Industrial Direct (MSM): Mitchell Jacobson, Director & 10% Owner

Recent buy: On Oct. 23, Jacobson bought 250,000 shares at weighted prices of about $115.11 to $116.72 (~$28.98M; average about $115.94). He now holds 2,578,192 shares directly, plus more held through trusts.

Track record: On April 7, 2025, Jacobson bought 159,193 MSM shares at about $69.73 (~$11.1M). On Oct. 30, 2025, he bought 181,806 more at about $84.75 (~$15.4M). MSM closed at $121.02 on Oct. 30, 2026, about 74% above his April 2025 price and about 43% above his October 2025 price.

Why it matters: This is his biggest purchase in the filings on record, nearly twice the size of last year's buy. He made it with the stock about 13% below its Oct. 21 closing high of $132.82.

Source: Form 4, Oct. 27, 2026 · OpenInsider MSM

3. Applied Digital (APLD): Wes Cummins, CEO & Chairman, and Jason Zhang, President

Recent buys: Both top executives bought on Oct. 16 and filed on Oct. 19:

• Wes Cummins (CEO & Chairman): 55,803 shares at $18.04 (~$1.01M)

• Jason Zhang (President): 300,000 shares at $18.40 to $19.16 (~$5.66M; average $18.86)

Together that is about $6.7M.

Track record: Between May 2022 and May 2023, Cummins made 36 open-market purchases at $1.95 to $6.17 a share, about $5.4M in total. APLD closed at $17.82 on Oct. 30, 2026, roughly 2.9x to 9.1x his cost. Along the way it hit a closing high of $49.65 on May 28, 2026.

Why it matters: The CEO who bought steadily near the 2022 lows is buying again, and the President joined him with a buy more than five times larger. Both bought after the stock had fallen about 64% from its May high.

Source: Form 4 (Cummins), Oct. 19, 2026 · Form 4 (Zhang), Oct. 19, 2026 · OpenInsider APLD

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.