Worth a closer look
- Open-market purchase with their own money (Form 4 code P), not a grant or option exercise.
- Bought by the CEO, one of the two people with the fullest view of the company.
- Raised their own holding by 21%.
- Similar past buys beat the S&P 500 50% of the time (165 cases), above the 46% for all buys.
- Their past buys: 6 of 9 beat the S&P 500 over 90 days.
Reasons for caution
- Other insiders sold $711K in the same 90 days, more than was bought.
What happened after this filing
Insider Twins: past buys with the same traits
1 insider buying · incl. CEO or CFO · $250K–$1M · stock down 0–20% in 3 months
IPWR Feb 26, 2026 +134.5% vs S&PIBP May 19, 2025 +57.2% vs S&PMYPS Feb 3, 2022 +42.2% vs S&PHSDT Sep 16, 2021 -68.1% vs S&PAEI Dec 2, 2022 -55.3% vs S&PAEI Oct 3, 2022 -55.2% vs S&PWhat we couldn't check
- Why they traded. Filings don't say, and we don't guess.
- Company news after the filing, and any private terms.
Mike Spanos (CEO) bought $502K of BLMN at about $10.04 on Nov 11, 2026, reported to the SEC on Nov 12, 2026. Buys like this beat the S&P 500 50% of the time since 2020, against 46% for all insider buys. We found 5 points that make it worth a closer look and 1 reason for caution. History, not a prediction.
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Written by fixed rules from SEC filings and our measured history, not by an AI model. Public data only. History, not a prediction, and not investment advice.