Insider Confidence: Gitlin’s Latest Stock Appreciation Right Purchase
On January 28, 2026, Carrier Global Corp’s Chairman and CEO, David L. Gitlin, added 438,195 Stock Appreciation Rights (SARs) to his portfolio in a transaction that closed at the day’s market price of $59.58. SARs are a form of incentive that reward executives when the company’s share price rises above a predetermined benchmark. While the purchase cost was zero, the transaction signals that Gitlin remains bullish on Carrier’s valuation trajectory, particularly as the stock is currently trading near the midpoint of its 52‑week range and has posted a 3.98 % weekly gain.
Implications for Investors and the Company
The timing of Gitlin’s buy is noteworthy. It follows a period of modest share‑price volatility and precedes a bullish technical setup that has driven a 12.76 % monthly gain. By acquiring SARs, Gitlin is effectively betting on future upside while keeping cash on hand. For investors, this move can be interpreted as a vote of confidence: the chief executive believes that the company’s earnings momentum, supported by strong demand for HVAC solutions, will continue to lift the share price. The absence of a cash outlay also means that the transaction does not dilute shareholder equity or impact liquidity, making it a low‑risk signal of management optimism.
What This Could Mean for the Future
Carrier’s recent fundamentals—PE of 36.22 and a market cap of $48.3 billion—indicate that the stock trades at a modest premium to earnings, yet remains within a range that suggests room for upside. The SAR purchase aligns with the company’s long‑term incentive plan, which rewards executives when earnings per share growth and total shareholder return beat peers over a three‑year horizon. If Carrier maintains its execution on product innovation and global expansion, the SARs could mature into substantial gains for Gitlin, potentially reinforcing a culture of performance‑driven leadership.
Gitlin’s Insider Activity Profile
Reviewing Gitlin’s insider history reveals a consistent pattern of SAR purchases, with the latest transaction being the largest single block of SARs he has ever acquired. He has not sold any common shares or SARs in the last year, suggesting a long‑term commitment to the company’s prospects. In contrast, other senior executives—such as VP Beril Yildiz and SVP Nadia Villeneuve—have also bought SARs, but in smaller quantities, reflecting a broader executive alignment around the same incentive structure. Gitlin’s cumulative holdings of SARs, combined with his role as CEO, give him significant influence over Carrier’s strategic direction and compensation philosophy.
Bottom Line for Market Participants
For investors watching Carrier Global, Gitlin’s SAR purchase is a positive barometer of executive sentiment. The transaction is unlikely to move the market on its own but should be viewed in the context of the company’s solid earnings outlook and the broader industrials sector’s recovery. As the SARs vest, they will serve as both a personal reward for Gitlin and a signal that Carrier’s management believes the company is well positioned for continued growth—an encouraging message for shareholders looking for long‑term value creation.
| Date | Owner | Transaction Type | Shares | Price per Share | Security |
|---|---|---|---|---|---|
| 2026-01-28 | Gitlin David L. (Chairman and CEO) | Buy | 438,195.00 | 0.00 | Stock Appreciation Right |
