Adtalem COO Sells $10.71‑Share 10b5‑1 Plan Move Signals “Risk‑Managed” Insider Strategy

Insider Selling Under a Rule 10b5‑1 Plan

On February 2 2026, Chief Legal Officer Andrew E. Grimmig sold 1,000 shares of Adtalem Global Education Inc. common stock at $10.71 per share under a Rule 10b5‑1 trading plan adopted in June 2025. The transaction reduced his post‑trade holding to 100,497 shares—about 2.8 % of the outstanding shares. Because the sale was executed through a pre‑established, time‑based plan, the trade is not considered a material breach of insider‑trading rules; however, it signals that senior management is actively managing personal exposure amid a volatile share price.

Recent Insider Activity Context

Grimmig’s sale follows a cluster of mixed buys and sells in December 2025. That month he bought roughly 10,000 shares and sold 3,096 shares, netting a modest divestment that mirrored a broader pattern of insiders reducing positions as the stock fell from a 52‑week high of $156.26 to $99.41. CEO Mark Zagorski and CFO Nicola Allais were similarly active—Zagorski sold 7,579 shares at $10.83 while buying 10,000 shares at $0, and Allais sold 1,376 shares at $10.83. These patterns suggest that senior executives are hedging against short‑term downside while still maintaining long‑term stakes.

Implications for Investors

The timing and magnitude of Grimmig’s sale are unlikely to trigger a sharp market reaction. The trade’s dollar volume is modest relative to the company’s daily liquidity, and the price at which it was executed ($10.71) is well below the prevailing market price ($99.41). Nevertheless, the sale confirms that insiders are not fully confident in the near‑term trajectory of Adtalem’s share price, which has declined 13.35 % over the week and 8.33 % over the month. For investors, this could be interpreted as a cautious stance: insiders are reducing personal exposure without abandoning long‑term commitments, a signal that confidence remains, but not unshakable.

Profile of Andrew E. Grimmig

Grimmig has used a Rule 10b5‑1 plan consistently since 2025 to manage his holdings. His transaction history shows a pattern of balancing purchases and disposals, with a net average position of roughly 100,000 shares. The most recent trade in February 2026 represents a small percentage of his overall holding, consistent with a strategy aimed at mitigating tax implications and market risk rather than signaling a fundamental change in outlook. Historically, insiders at Adtalem have maintained holdings above 1 % of the company, a benchmark that Grimmig still meets after the latest sale.

Looking Ahead

Adtalem’s fundamentals—an enterprise value of $3.6 B, a P/E of 15.8, and a diversified portfolio of institutions—provide a solid foundation for long‑term growth, especially as the higher‑education market shifts toward hybrid delivery. However, the recent insider divestments and a sharp weekly decline in share price suggest that market sentiment remains cautious. Investors may view Grimmig’s sale as a routine risk‑management move rather than a harbinger of distress, but they should remain alert to the broader insider activity that could foreshadow more aggressive selling in the coming months.