Kodak Executives Keep Buying Amid Upside Bets, Amid Mixed Insider Sales and Restructuring Signals

Insider Activity at Eastman Kodak: What the Latest Deal Means for Investors

1. A Quiet Day in the Glass‑Box On February 17, 2026, General Counsel, Securities & VP Roger W. Byrd executed a net exercise of 15 000 stock options, acquiring 15 000 shares at $3.03 each while simultaneously selling 8 107 shares at $7.72. The trade, filed under Form 4, left Byrd’s holdings at 104 271 shares. The transaction is price‑neutral for the company, but it signals that senior leadership remains comfortable with Kodak’s share price and its recent upward momentum (the stock gained 1.05 % on the day after the filing).

2. Insider Buying in a Restructuring Era Byrd’s current buy mirrors a pattern of opportunistic purchases: in early January 2026 he bought 70 000 shares at $3.09 and sold 39 995 shares at $7.55, netting a sizable profit while increasing his long‑term position to 129 266 shares. His recent sale of 8 107 shares, however, suggests a short‑term liquidity need or a portfolio‑balancing exercise. For investors, this mixed behavior can be read as a sign that senior executives are not rushing to liquidate, but also that they are not wholly locked into the stock’s upside.

3. The Bigger Picture of Executive Buying Across the board, Eastman Kodak’s insiders, led by CEO James Continenza, have been buying shares aggressively. In February 2026 Continenza added 122 549 shares at $0.00 (a block trade) and sold 4 173 shares at $7.53. The pattern of large block purchases, coupled with the company’s modest P/E of 23.55 and a price‑to‑book of 0.97, indicates that insiders believe the stock is undervalued relative to its assets. The 66.53 % buzz score on social media signals that the deal is generating interest, although the negative sentiment score of –31 suggests a cautious tone among retail investors.

4. What Does This Mean for the Future?

• Valuation Confidence: Byrd’s net purchase at $3.03, well below the current $7.72 price, demonstrates confidence that the share will rebound. The company’s recent 10.60 % monthly gain supports the view that the market is still in a recovery phase.
• Strategic Focus: The continued insider buying coincides with Kodak’s pivot to digital imaging and packaging solutions—a shift that could lift earnings once the transition matures.
• Risk Signals: The negative P/E of –24.82 (a likely data typo, but assuming a negative earnings figure) underscores that the company is still navigating profitability challenges. Investors should monitor cash flow and R&D investment to gauge whether the stock’s upside will materialize.

5. Roger Byrd: A Profile of Prudence and Opportunism Byrd’s transaction history shows a mix of block purchases and partial liquidations. He has repeatedly bought shares at prices significantly below the market level, often using net‑exercise strategies to avoid tax drag. His holdings include a sizable amount of restricted and performance stock units that vest in 2026–2027, aligning his interests with long‑term performance. Historically, Byrd has sold only a fraction of his position, indicating a long‑term commitment to Kodak’s strategy.

In sum, the February 17, 2026 filing illustrates that Kodak’s senior leadership remains bullish on the company’s prospects while maintaining a flexible liquidity strategy. For investors, the insider activity is a bullish signal, but the company’s ongoing turnaround and valuation metrics warrant careful watch.