IBM insider activity
What the executives and directors of IBM actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$5.3M
net open-market flow, 12 m
3 open-market buys, 12 m
0%
of sale value on 10b5-1 plans, 12 m
209 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling.
The 72 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| Jul 1, 2026 | Robinson Anne | 11K |
| Jun 4, 2026 | Fehring Nicolas A. | 400 |
| Feb 21, 2026 | COHN GARY D | 15K |
| Feb 21, 2026 | KAVANAUGH JAMES J | 19K |
| Feb 21, 2026 | KRISHNA ARVIND | 34K |
| Feb 21, 2026 | LAMOREAUX NICKLE JACLYN | 9,030 |
| Feb 21, 2026 | Fehring Nicolas A. | 3,412 |
| Feb 21, 2026 | Thomas Robert David | 17K |
| Feb 18, 2026 | Robinson Anne | 2,675 |
| Feb 1, 2026 | COHN GARY D | 55K |
| Feb 1, 2026 | KAVANAUGH JAMES J | 72K |
| Feb 1, 2026 | KRISHNA ARVIND | 124K |
| Feb 1, 2026 | LAMOREAUX NICKLE JACLYN | 35K |
| Feb 1, 2026 | Fehring Nicolas A. | 5,668 |
| Feb 1, 2026 | Thomas Robert David | 63K |
| Feb 1, 2026 | Robinson Anne | 9,344 |
| Nov 14, 2025 | Fehring Nicolas A. | 350 |
| Nov 6, 2025 | Thomas Robert David | 700 |
| Nov 5, 2025 | KAVANAUGH JAMES J | 6,700 |
| Nov 5, 2025 | KRISHNA ARVIND | 20K |
| Sep 2, 2025 | Fehring Nicolas A. | 4,530 |
| Jul 1, 2025 | Robinson Anne | 16K |
| Jun 8, 2025 | KAVANAUGH JAMES J | 7,751 |
| Jun 8, 2025 | KRISHNA ARVIND | 13K |
| Jun 8, 2025 | LAMOREAUX NICKLE JACLYN | 2,084 |
| Jun 8, 2025 | Fehring Nicolas A. | 779 |
| Jun 8, 2025 | Thomas Robert David | 5,182 |
| Mar 6, 2025 | Fehring Nicolas A. | 400 |
| Feb 21, 2025 | COHN GARY D | 12K |
| Feb 21, 2025 | KAVANAUGH JAMES J | 15K |
| Feb 21, 2025 | KRISHNA ARVIND | 25K |
| Feb 21, 2025 | LAMOREAUX NICKLE JACLYN | 6,631 |
| Feb 21, 2025 | Fehring Nicolas A. | 2,125 |
| Feb 21, 2025 | Thomas Robert David | 13K |
| Feb 11, 2025 | Thomas Robert David | 22K |
| Feb 1, 2025 | COHN GARY D | 47K |
| Feb 1, 2025 | KAVANAUGH JAMES J | 56K |
| Feb 1, 2025 | KRISHNA ARVIND | 86K |
| Feb 1, 2025 | LAMOREAUX NICKLE JACLYN | 39K |
| Feb 1, 2025 | Fehring Nicolas A. | 3,351 |
| Feb 1, 2025 | Thomas Robert David | 44K |
| Feb 1, 2025 | Robinson Anne | 3,779 |
| Jan 4, 2025 | COHN GARY D | 7,311 |
| Sep 3, 2024 | Fehring Nicolas A. | 530 |
| Sep 1, 2024 | LAMOREAUX NICKLE JACLYN | 2,893 |
| Sep 1, 2024 | Fehring Nicolas A. | 4,130 |
| Jun 10, 2024 | Fehring Nicolas A. | 610 |
| Jun 10, 2024 | Thomas Robert David | 18K |
| Jun 8, 2024 | KAVANAUGH JAMES J | 16K |
| Jun 8, 2024 | BROWDY MICHELLE H | 9,372 |
| Jun 8, 2024 | KRISHNA ARVIND | 28K |
| Jun 8, 2024 | LAMOREAUX NICKLE JACLYN | 2,876 |
| Jun 8, 2024 | Fehring Nicolas A. | 1,507 |
| Jun 8, 2024 | Thomas Robert David | 11K |
| Feb 21, 2024 | COHN GARY D | 8,283 |
| Feb 21, 2024 | KAVANAUGH JAMES J | 10K |
| Feb 21, 2024 | BROWDY MICHELLE H | 6,264 |
| Feb 21, 2024 | KRISHNA ARVIND | 17K |
| Feb 21, 2024 | LAMOREAUX NICKLE JACLYN | 4,214 |
| Feb 21, 2024 | Fehring Nicolas A. | 1,268 |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
The chart, in numbers
| Flow | Shares |
|---|---|
| Granted | 243K |
| Vested / exercised | 73K |
| Bought on market | 1,484 |
| Withheld for tax | 159K |
| Discretionary sales | 25K |
| Gifts | 28K |
| Kept | 106K |
Skin in the game
Directly held shares as reported after each trade, indexed to 100 at the start of the window, up to five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
The chart, in numbers
| Insider | Start of the window | Latest reported | Indexed, start = 100 |
|---|---|---|---|
| KAVANAUGH JAMES J | 104K | 175K | 168.6 |
| Thomas Robert David | 45K | 48K | 106.4 |
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| KRISHNA ARVIND Chairman, President & CEO | CEO | 369K | – | – | – | |
| KAVANAUGH JAMES J Sr. VP and CFO Last trade Feb 1, 2023 | CFO | 174K | – | – | Feb 1, 2023 | |
| BROWDY MICHELLE H Senior Vice President Last trade Feb 1, 2024 | Officer | 125K | – | – | Feb 1, 2024 | |
| COHN GARY D Vice Chairman | Officer | 110K | – | – | – | |
| LAMOREAUX NICKLE JACLYN Senior Vice President Last trade Nov 8, 2024 | Officer | 56K | – | – | Nov 8, 2024 | |
| Thomas Robert David Senior Vice President Last trade Aug 26, 2026 | Officer | 48K | – | $5.8M | net selling over the year: 0 months buying, 1 month selling | Aug 26, 2026 |
| Fehring Nicolas A. VP, Controller | Officer | 17K | – | – | – | |
| Robinson Anne Senior Vice President | Officer | 16K | – | – | – | |
| FARR DAVID N Last trade Jan 30, 2026 | Director | 10K | $304K | – | net buying over the year: 1 month buying, 0 months selling | Jan 30, 2026 |
| ZOLLAR ALFRED W Last trade Nov 13, 2024 | Director | 936 | – | – | Nov 13, 2024 | |
| Miebach Michael Last trade Feb 25, 2026 | Director | 434 | $101K | – | net buying over the year: 1 month buying, 0 months selling | Feb 25, 2026 |
| HOWARD MICHELLE J Last trade Feb 25, 2026 | Director | 194 | $12K | – | net buying over the year: 1 month buying, 0 months selling | Feb 25, 2026 |
Open-market trade log
the 60 most recent of 3,931| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Aug 26, 2026 | Thomas Robert David (Officer) 25K shares $230.32 +0.0% since trade filed Aug 28, 2026 | Discretionary sale | 25K | $230.32 | $5.8M | +0.0% | Aug 28, 2026 |
| Feb 25, 2026 | HOWARD MICHELLE J (Director) 50 shares $237.83 −3.2% since trade filed Feb 25, 2026 | Open-market buy | 50 | $237.83 | $12K | −3.2% | Feb 25, 2026 |
| Feb 25, 2026 | Miebach Michael (Director) 434 shares $233.33 −1.3% since trade filed Feb 25, 2026 | Open-market buy | 434 | $233.33 | $101K | −1.3% | Feb 25, 2026 |
| Jan 30, 2026 | FARR DAVID N (Director) 1,000 shares $304.00 −24.2% since trade filed Jan 30, 2026 | Open-market buy | 1,000 | $304.00 | $304K | −24.2% | Jan 30, 2026 |
| Mar 3, 2025 | Thomas Robert David (Officer) 27K shares $253.01 −9.0% since trade filed Mar 3, 2025 | Discretionary sale | 27K | $253.01 | $6.7M | −9.0% | Mar 3, 2025 |
| Feb 28, 2025 | FARR DAVID N (Director) 1,200 shares $249.00 −7.5% since trade filed Feb 28, 2025 | Open-market buy | 1,200 | $249.00 | $299K | −7.5% | Feb 28, 2025 |
| Nov 13, 2024 | ZOLLAR ALFRED W (Director) 936 shares $210.62 +9.4% since trade filed Nov 13, 2024 | Open-market buy | 936 | $210.62 | $197K | +9.4% | Nov 13, 2024 |
| Nov 8, 2024 | LAMOREAUX NICKLE JACLYN (Officer) 3,600 shares $215.20 +7.0% since trade filed Nov 8, 2024 | Discretionary sale | 3,600 | $215.20 | $775K | +7.0% | Nov 8, 2024 |
| Feb 1, 2024 | BROWDY MICHELLE H (Officer) 9,800 shares $184.85 +24.6% since trade filed Feb 5, 2024 | Discretionary sale | 9,800 | $184.85 | $1.8M | +24.6% | Feb 5, 2024 |
| Feb 1, 2023 | KAVANAUGH JAMES J (CFO) 6,570 shares $134.30 +71.5% since trade filed Feb 3, 2023 | Discretionary sale | 6,570 | $134.30 | $882K | +71.5% | Feb 3, 2023 |
| Feb 1, 2023 | KAVANAUGH JAMES J (CFO) 32K shares $133.61 +72.4% since trade filed Feb 3, 2023 | Discretionary sale | 32K | $133.61 | $4.3M | +72.4% | Feb 3, 2023 |
| Nov 22, 2022 | Del Bene Robert F (Officer) 3,000 shares $148.36 +55.2% since trade filed Nov 22, 2022 | Discretionary sale | 3,000 | $148.36 | $445K | +55.2% | Nov 22, 2022 |
| Sep 15, 2022 | FARR DAVID N (Director) 1,000 shares $125.00 +84.3% since trade filed Sep 16, 2022 | Open-market buy | 1,000 | $125.00 | $125K | +84.3% | Sep 16, 2022 |
| Jun 2, 2022 | Del Bene Robert F (Officer) 1,600 shares $139.04 +65.7% since trade filed Jun 3, 2022 | Discretionary sale | 1,600 | $139.04 | $222K | +65.7% | Jun 3, 2022 |
| Dec 13, 2021 | HOWARD MICHELLE J (Director) 80 shares $123.76 +86.1% since trade filed Dec 13, 2021 | Open-market buy | 80 | $123.76 | $10K | +86.1% | Dec 13, 2021 |
| Feb 8, 2021 | HOWARD MICHELLE J (Director) 64 shares $123.30 filed Feb 9, 2021 | Open-market buy | 64 | $123.30 | $8K | – | Feb 9, 2021 |
| Nov 9, 2020 | Gorsky Alex (Director) 4,232 shares $117.86 filed Nov 9, 2020 | Open-market buy | 4,232 | $117.86 | $499K | – | Nov 9, 2020 |
| Nov 2, 2020 | LIVERIS ANDREW N (Director) 2,655 shares $112.92 filed Nov 2, 2020 | Open-market buy | 2,655 | $112.92 | $300K | – | Nov 2, 2020 |
| Oct 30, 2020 | Swedish Joseph (Director) 2,000 shares $111.01 filed Nov 2, 2020 | Open-market buy | 2,000 | $111.01 | $222K | – | Nov 2, 2020 |
| Oct 29, 2020 | FARR DAVID N (Director) 75 shares $107.75 filed Oct 30, 2020 | Open-market buy | 75 | $107.75 | $8K | – | Oct 30, 2020 |
| Oct 29, 2020 | FARR DAVID N (Director) 100 shares $107.71 filed Oct 30, 2020 | Open-market buy | 100 | $107.71 | $11K | – | Oct 30, 2020 |
| Oct 29, 2020 | FARR DAVID N (Director) 175 shares $108.13 filed Oct 30, 2020 | Open-market buy | 175 | $108.13 | $19K | – | Oct 30, 2020 |
| Oct 29, 2020 | FARR DAVID N (Director) 300 shares $107.74 filed Oct 30, 2020 | Open-market buy | 300 | $107.74 | $32K | – | Oct 30, 2020 |
| Oct 29, 2020 | FARR DAVID N (Director) 750 shares $107.66 filed Oct 30, 2020 | Open-market buy | 750 | $107.66 | $81K | – | Oct 30, 2020 |
| Oct 28, 2020 | WADDELL FREDERICK H (Director) 1,000 shares $107.50 filed Oct 29, 2020 | Open-market buy | 1,000 | $107.50 | $108K | – | Oct 29, 2020 |
| Oct 28, 2020 | MCNABB FREDERICK WILLIAM III (Director) 9,250 shares $108.01 filed Oct 29, 2020 | Open-market buy | 9,250 | $108.01 | $999K | – | Oct 29, 2020 |
| Oct 27, 2020 | TAUREL SIDNEY (Director) 5,000 shares $110.75 filed Oct 28, 2020 | Open-market buy | 5,000 | $110.75 | $554K | – | Oct 28, 2020 |
| Aug 11, 2020 | Gherson Diane J (Officer) 1,895 shares $128.76 filed Aug 11, 2020 | Discretionary sale | 1,895 | $128.76 | $244K | – | Aug 11, 2020 |
| Aug 11, 2020 | Gherson Diane J (Officer) 2,714 shares $129.50 filed Aug 11, 2020 | Discretionary sale | 2,714 | $129.50 | $351K | – | Aug 11, 2020 |
| Aug 10, 2020 | Gherson Diane J (Officer) 1,215 shares $127.00 filed Aug 11, 2020 | Discretionary sale | 1,215 | $127.00 | $154K | – | Aug 11, 2020 |
| Aug 5, 2020 | Gherson Diane J (Officer) 1,176 shares $126.73 filed Aug 7, 2020 | Discretionary sale | 1,176 | $126.73 | $149K | – | Aug 7, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 40 shares $140.60 filed Feb 27, 2020 | Discretionary sale | 40 | $140.60 | $6K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 50 shares $140.40 filed Feb 27, 2020 | Discretionary sale | 50 | $140.40 | $7K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 50 shares $140.41 filed Feb 27, 2020 | Discretionary sale | 50 | $140.41 | $7K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 60 shares $140.59 filed Feb 27, 2020 | Discretionary sale | 60 | $140.59 | $8K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 75 shares $140.45 filed Feb 27, 2020 | Discretionary sale | 75 | $140.45 | $11K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 100 shares $140.18 filed Feb 27, 2020 | Discretionary sale | 100 | $140.18 | $14K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 100 shares $140.24 filed Feb 27, 2020 | Discretionary sale | 100 | $140.24 | $14K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 100 shares $140.32 filed Feb 27, 2020 | Discretionary sale | 100 | $140.32 | $14K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 100 shares $140.39 filed Feb 27, 2020 | Discretionary sale | 100 | $140.39 | $14K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 100 shares $140.42 filed Feb 27, 2020 | Discretionary sale | 100 | $140.42 | $14K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 100 shares $140.46 filed Feb 27, 2020 | Discretionary sale | 100 | $140.46 | $14K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 100 shares $140.48 filed Feb 27, 2020 | Discretionary sale | 100 | $140.48 | $14K | – | Feb 27, 2020 |
| Feb 26, 2020 | Del Bene Robert F (Officer) 200 shares $140.35 filed Feb 27, 2020 | Discretionary sale | 200 | $140.35 | $28K | – | Feb 27, 2020 |
| Feb 20, 2020 | Del Bene Robert F (Officer) 100 shares $151.30 filed Feb 21, 2020 | Discretionary sale | 100 | $151.30 | $15K | – | Feb 21, 2020 |
| Feb 20, 2020 | Del Bene Robert F (Officer) 100 shares $151.32 filed Feb 21, 2020 | Discretionary sale | 100 | $151.32 | $15K | – | Feb 21, 2020 |
| Feb 20, 2020 | Del Bene Robert F (Officer) 100 shares $151.33 filed Feb 21, 2020 | Discretionary sale | 100 | $151.33 | $15K | – | Feb 21, 2020 |
| Feb 20, 2020 | Del Bene Robert F (Officer) 200 shares $151.18 filed Feb 21, 2020 | Discretionary sale | 200 | $151.18 | $30K | – | Feb 21, 2020 |
| Feb 20, 2020 | Del Bene Robert F (Officer) 300 shares $151.27 filed Feb 21, 2020 | Discretionary sale | 300 | $151.27 | $45K | – | Feb 21, 2020 |
| Feb 20, 2020 | Del Bene Robert F (Officer) 375 shares $151.20 filed Feb 21, 2020 | Discretionary sale | 375 | $151.20 | $57K | – | Feb 21, 2020 |
| Feb 19, 2020 | Del Bene Robert F (Officer) 93 shares $150.87 filed Feb 21, 2020 | Discretionary sale | 93 | $150.87 | $14K | – | Feb 21, 2020 |
| Feb 19, 2020 | Del Bene Robert F (Officer) 100 shares $150.81 filed Feb 21, 2020 | Discretionary sale | 100 | $150.81 | $15K | – | Feb 21, 2020 |
| Feb 19, 2020 | Del Bene Robert F (Officer) 100 shares $150.83 filed Feb 21, 2020 | Discretionary sale | 100 | $150.83 | $15K | – | Feb 21, 2020 |
| Feb 19, 2020 | Del Bene Robert F (Officer) 100 shares $150.85 filed Feb 21, 2020 | Discretionary sale | 100 | $150.85 | $15K | – | Feb 21, 2020 |
| Feb 19, 2020 | Del Bene Robert F (Officer) 182 shares $150.80 filed Feb 21, 2020 | Discretionary sale | 182 | $150.80 | $27K | – | Feb 21, 2020 |
| Feb 19, 2020 | Del Bene Robert F (Officer) 200 shares $150.82 filed Feb 21, 2020 | Discretionary sale | 200 | $150.82 | $30K | – | Feb 21, 2020 |
| Feb 19, 2020 | Del Bene Robert F (Officer) 400 shares $150.81 filed Feb 21, 2020 | Discretionary sale | 400 | $150.81 | $60K | – | Feb 21, 2020 |
| Feb 14, 2020 | Del Bene Robert F (Officer) 75 shares $151.95 filed Feb 18, 2020 | Discretionary sale | 75 | $151.95 | $11K | – | Feb 18, 2020 |
| Feb 14, 2020 | Del Bene Robert F (Officer) 200 shares $151.96 filed Feb 18, 2020 | Discretionary sale | 200 | $151.96 | $30K | – | Feb 18, 2020 |
| Feb 14, 2020 | Del Bene Robert F (Officer) 200 shares $151.97 filed Feb 18, 2020 | Discretionary sale | 200 | $151.97 | $30K | – | Feb 18, 2020 |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles.
Filing hygiene
276 Forms 4, 3 years
0 filed late
4 amendments
1.2 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.