Insider Milmoe William H. Offloads 120,000 Celsius Shares in Structured Hedge Amid Market Surge

Insider Selling on a Day of Market Momentum

The latest filing from Milmoe William H. (reporting through CD Financial LLC) shows a sale of 120,000 shares of Celsius Holdings at $38.79 on 13 January 2026. The transaction came just a day after the stock closed at $53.13, a 4.4 % gain for the week and 24 % for the month. The sell order was part of a larger “pre‑paid variable forward” (VPF) agreement that required the delivery of 120,000 shares on each of three tranches. The settlement dates—12, 13, and 14 January—were all close to the current price, so the sale is effectively a hedge of the forward contract rather than an opportunistic profit‑take.

The timing is noteworthy because the social‑media sentiment for Celsius is +89 and buzz is 208 %. Investor enthusiasm is high, yet the insiders are liquidating positions. In a market where the 52‑week high has already been surpassed and the P/E sits at a lofty 419, the sell could signal that the insiders are locking in gains before a potential correction.

What This Means for Investors

1. Liquidity Pressure? A 120,000‑share block represents less than 0.1 % of the 134 million‑share float, so a single trade is unlikely to move the stock. However, the cumulative pattern of weekly sales (six tranches in the past month) may hint at a systematic off‑loading strategy.

2. Confidence in the Forward Structure The VPF is a derivative that locks in a floor price of $29.09 and a cap of $38.79. The fact that the settlement price exceeded the cap on all three tranches suggests the forward was designed to benefit the seller (Milmoe/CD) when the stock moves above $38.79. The seller now has fulfilled the obligation and is realizing the cash upside. This could be a deliberate way to monetize a bullish view without selling the underlying shares until the market is firmly higher.

3. Signal to the Market Insider selling in a rising market can be interpreted in two ways: either a rational hedging maneuver or a warning that insiders see an over‑valuation. Given the high P/E and the recent 24‑month run, some investors may view the sales as a cautionary signal. Others will note that the insiders have been selling a steady stream of shares in the past week, which may indicate a broader strategy rather than a one‑off event.

Milmoe William H. – A Profile of the Insider

Milmoe’s activity over the past year is remarkably consistent. Every week in December 2025 and January 2026, he has sold 120,000 shares (or 115,374 in a few cases) at roughly the same price point of $38.79–$37.02. He also routinely enters into variable‑forward contracts that lock in a cap of $38.79 and a floor near $29.09. The pattern shows:

• Volume Discipline – He sells in neat, equal blocks, suggesting a pre‑planned exit schedule rather than reaction to news.
• Price Sensitivity – His selling price hovers just below the current market, indicating a preference for a slight discount to lock in gains.
• Derivative Use – The VPF contracts reveal a sophisticated approach to risk management, allowing him to capture upside while limiting downside exposure.

In short, Milmoe is a seasoned insider who uses derivatives to structure his trades and sells in predictable, low‑volume blocks. This consistency points to a long‑term view rather than opportunistic trading.

Broader Insider Activity

The same pattern is mirrored by the DeSantis siblings, who have also sold 120,000 shares on each of the last three days. Their simultaneous selling of both the underlying shares and the corresponding forward contracts suggests a coordinated family strategy, possibly to align ownership structure with the company’s strategic direction.

Take‑away for the Market

Insider selling in a bull market is rarely a pure bearish signal; it can simply be part of a hedging strategy. Milmoe’s disciplined approach and use of VPF contracts indicate that he is managing exposure while maintaining a stake in Celsius. For investors, the key will be to watch whether this trend continues or if a sudden spike in insider selling precedes a market correction. As of now, the insider activity appears to be a controlled risk‑management exercise rather than an alarm bell.