CFO’s February Sale of 7,000 Shares Raises Questions but Signals Long‑Term Confidence in Terreno Realty’s Upside

Insider Selling Amid a Bullish Trend

On February 9 2026, Terreno Realty Corp’s chief financial officer, Cannon Jaime Jackson, sold 7,000 shares of the company’s common stock at $65.99 per share, slightly above the market close of $65.98 the prior day. The trade left Jackson with 110,038 shares—still a substantial position—while the company’s share price was up 4.59 % that week and 10.10 % for the month. The sale, executed when the stock was near its 52‑week high, raises questions about the CFO’s confidence in the near‑term trajectory of the real‑estate investment trust.

What the Deal Signals for Investors

Jackson’s move is one of several insider sales in the last six months, most notably a 4,165‑share sale on August 1 2025 when the price hovered around $54.27. That sale coincided with a broader trend of executive selling—President Michael Coke and EVP John Tull also sold shares in August and November 2025—suggesting a potential liquidity need or portfolio rebalancing rather than a bearish outlook. The fact that Jackson’s position remains large and that the stock continues to trade near its 52‑week high indicates that the CFO likely sees long‑term value in Terreno’s portfolio of REIT‑style assets. For investors, the trade may be best viewed as a routine cash‑flow move; it does not appear to signal an impending downturn but rather a normal insider activity pattern.

Jackson’s Insider‑Trading Profile

Jackson’s insider history reflects a cautious, long‑term stance. Since early 2025, the CFO has bought a total of 5,757 shares at $0.00 (likely a cost‑basis transaction or a zero‑price block trade) and has sold a cumulative 4,165 shares in August 2025 and 7,000 shares in February 2026. His holdings have fluctuated between 73,202 and 117,038 shares, implying a net accumulation of roughly 40,000 shares over the year. The zero‑price purchases are typical for executive compensation plans that allow employees to acquire shares at no cost, while the sales tend to occur in small, discrete blocks. This pattern suggests Jackson is comfortable with periodic liquidity events but remains a substantial shareholder, aligning his interests closely with other investors.

Implications for Terreno’s Future

Terreno’s fundamentals remain solid, with a market cap of $6.89 billion and a recent 10.10 % monthly gain. The company’s real‑estate portfolio appears to be performing well, driving the stock’s upward trajectory. Insider sales, when viewed in context, are unlikely to undermine confidence; instead, they can indicate healthy executive cash management. If the CFO’s sale reflects a broader strategy to diversify holdings or to fund personal commitments, it should have minimal impact on the company’s capital structure or growth plans. Investors should continue to monitor insider activity for larger blocks or a sustained trend of selling, which could presage a change in sentiment.