Century Aluminum CFO Dumps Shares Amid Bull Run: Insider Sales Signal Tax Play or Over‑Valuation?

Insider Selling Amid a Bull Run

On February 9, 2026, Chief Financial Officer Peter A. Trpkovski sold 4,240 shares of Century Aluminum, a transaction triggered by the vesting of restricted stock units. The sale price of $54.36 closely tracks the market price of $53.44, suggesting a routine liquidation rather than a strategic divestiture. However, the timing is noteworthy: the shares were sold while the stock was enjoying a 12‑month rally, with a 52‑week high of $55.59 and a year‑to‑date gain of nearly 150 %. CFO‑level sell‑offs during such a run often signal confidence that the share price is over‑valued, or simply a need to balance personal tax obligations tied to RSUs.

Insider Activity Across the Board

Beyond the CFO, Century Aluminum’s top executives have been actively trading. President and CEO Gary Jesse E. completed both a significant sell and buy of 314,611 shares on January 12, 2026, and a 150,000‑share sale on January 23. Other senior leaders, from SVPs in Human Resources and Commercial Operations to strategy executives, have also been selling sizable blocks during the past year. The pattern of multiple insider sales—often in the 10‑to‑30 k share range—coupled with occasional large purchases (e.g., the CEO’s 150 k‑share buy) indicates a dynamic insider trading environment where executives are actively managing their holdings.

What This Means for Investors

For investors, insider selling is a mixed signal. On one hand, it can be interpreted as a lack of confidence in near‑term upside, especially when sales occur during a bullish period. On the other hand, the fact that insiders are also making sizable purchases suggests they still believe the company’s fundamentals are sound and that the current price may be temporarily inflated. The CFO’s sale, driven largely by tax‑related RSU vesting, is likely a personal cash‑flow decision rather than a strategic forecast. The broader pattern of insider trades does not point to a coordinated sell‑off but rather a normal cycle of portfolio rebalancing and risk management.

Strategic Outlook and Valuation Context

Century Aluminum’s valuation—PE of 65.26 and a price‑to‑book ratio of 5.70—places it at a premium relative to its book value and earnings. The stock’s volatility (a 52‑week range from $13.05 to $55.59) underscores the risk that the market is still pricing in potential upside from expanding aluminum demand and production capacity. The recent insider activity, coupled with the company’s solid operational footprint in the U.S. and growing portfolio of reduction facilities, suggests that while insiders are managing personal holdings, they remain bullish on the long‑term trajectory of the aluminum sector. Investors should weigh the current valuation premium against the company’s growth prospects and consider whether the price is justified by projected earnings and capital expenditures in the coming years.