Xerox Executives Trade Quietly: Chief Legal Officer Exercises Performance‑Shares Amid Modest Insider Buying Surge

Insider Activity at Xerox Holdings Corp. – What It Means for the Stock

Colon Flor’s recent performance‑share transaction On February 4, 2026, Colon Flor, who serves as the company’s Chief Legal Officer and Corporate Secretary, exercised 2,456 performance‑share units (PSUs) that had vested on January 18, 2023. The units were converted into common stock at no cash cost (the transaction price is listed as $0.00), raising Flor’s post‑transaction holdings to 18,249 shares. The vesting of PSUs is a routine part of Xerox’s long‑term incentive plan and typically reflects the achievement of performance targets rather than a signal of insider concern.

Implications of the Current Transaction The immediate effect of the PSU exercise is a modest increase in circulating shares (about 18 k), which represents less than 0.01 % of the total shares outstanding. Because the shares were acquired at zero cost, the transaction does not provide a direct cash influx to the company, but it does demonstrate that the PSUs are priced fairly in line with market conditions (the prevailing share price was $2.12). The fact that 1,016 of the 2,456 vested units were withheld for taxes and sold for $2.29 per share indicates that Flor is actively managing her tax exposure, a common practice among insiders.

How the Broader Insider Landscape Shapes Investor Sentiment Xerox’s insider trading activity on the same day shows a mix of buys and sells by high‑level executives and other officers. CEO Steven John Bandrowczak purchased 66,960 shares while selling 20,986, and other insiders such as Gueden Jacques‑Edouard made sizable purchases and sales as well. This pattern of “buy‑sell‑buy” is typical for insiders who hold large block positions; they buy when they believe the stock is undervalued and sell to rebalance or meet liquidity needs. The net insider buying volume on February 4 was roughly 2 million shares, suggesting a modest overall bullish stance.

What Investors Should Take Away

• Price Momentum: Xerox’s share price closed at $2.12 on the day of the transaction, down 6.85% from the previous week but up 0.10% from the intraday value. The 52‑week high of $8.26 is still far above the current level, and the price‑to‑earnings ratio of –0.28 reflects negative earnings. Without a clear turnaround in profitability, the upside remains limited.
• Insider Confidence: The fact that insiders are buying more shares than they are selling signals a degree of confidence in the company’s future, especially as the performance‑share units vest and align executives’ interests with shareholders. However, the magnitude of the buys is relatively small compared to the outstanding float, so the effect on the stock price is likely to be muted.
• Risk Factors: Xerox’s business model has shifted toward services and cloud‑based solutions, but the company continues to struggle with declining legacy printer revenue and thin margins. The negative earnings trend and high debt load add to the downside risk.

Colon Flor – A Profile of Consistent Participation Colon Flor has a long history of insider transactions that reflect both a commitment to the company and prudent financial management. Between May 2025 and February 2026, Flor has:

The pattern shows that Flor actively participates in the company’s long‑term incentive plan while also managing liquidity through regular share sales. Her net position remains substantial, and the recent PSU exercise indicates that she is still invested in Xerox’s strategic direction.

Bottom Line for Investors The insider activity around February 4, 2026, paints a picture of cautious optimism. Executives are buying shares and exercising performance‑shares, which suggests they believe the stock is undervalued relative to future growth prospects. However, the broader market conditions—negative earnings, low price‑to‑earnings ratio, and a steep decline from the 52‑week high—temper that optimism. Investors should monitor Xerox’s transition to a services‑focused model and any signs of earnings improvement before committing significant capital.