CEO Nadji Hessam Buys 46,000 RSUs Amid Stock Dip, Sending Confidence Signal to Marcus & Millichap Investors

Insider Activity Spotlight: Marcus & Millichap’s CEO Buys Restricted Stock Units

The latest filing from CEO Nadji Hessam on February 10, 2026 shows a purchase of 46,000 restricted stock units (RSUs) at no cash cost—an acquisition that will vest in equal installments over four years beginning March 10, 2027. While the transaction itself is a standard equity grant, it arrives at a time when the company’s share price has dipped 3 % in the last week and 36 % over the year, underscoring a broader market wobble in commercial real‑estate brokerage.

What the Buy Signals for Investors

The timing of the RSU purchase—amid a sharp decline in the stock’s price and a negative price‑earnings ratio—may reassure shareholders that leadership remains committed to the long‑term success of the firm. By aligning his personal wealth with the company’s equity, Hessam demonstrates confidence that the brokerage’s strategic initiatives, including its recent self‑storage acquisition in Newark and a steady dividend of $0.25 per share, will translate into shareholder value over the next few years. For investors, the move is a positive indicator that the CEO is willing to stake his own capital on the company’s recovery, potentially mitigating concerns about short‑term earnings volatility.

Insider Trading Patterns: A Mixed Picture

Hessam’s historical transactions paint a nuanced portrait. Over the last eighteen months, he has sold a total of approximately 30,000 shares of common stock, often at prices near the market average, and has also purchased 30,000 shares in September 2025 at $32.19 per share—just above the 52‑week high of $41.94. The most recent sell activity in December 2025 involved 500 shares, while the current RSU grant adds a long‑term incentive that will vest when the market stabilizes. Compared to his peers—Parker John David, De Bosschere Fabrice, and DeGennaro Steven F.—who each executed a single RSU buy in February 2026, Hessam’s activity suggests a balance between short‑term liquidity needs and long‑term commitment.

Implications for the Company’s Future

With a market cap of $1.06 billion and a negative P/E of –158.79, Marcus & Millichap is operating in a high‑risk, high‑reward environment. The CEO’s RSU grant signals a willingness to endure short‑term downturns in exchange for future upside, dovetailing with the firm’s strategy to capture emerging commercial real‑estate opportunities. Analysts will likely watch how the company’s quarterly earnings evolve, especially as it continues to navigate a soft market while maintaining its dividend policy. If the brokerage can sustain its transaction volume and leverage its brokerage platform, the long‑term alignment of management and shareholders could prove pivotal in driving a rebound.

CEO Profile: Nadji Hessam

Nadhi Hessam has shown a disciplined approach to insider trading—mixing periodic sales for liquidity with strategic long‑term equity grants. His pattern of selling during market lows and buying during periods of relative strength reflects a calculated risk tolerance. The recent RSU acquisition is consistent with his history of using restricted equity as a tool to incentivize future performance and signal confidence to the market. For investors, Hessam’s trading record suggests a leader who balances short‑term cash needs with a firm belief in the company’s long‑term trajectory.