2026-07-01: SHAR JONATHAN (CEO) — sell-to-cover (tax withholding on a vest) — $871.1K of BNED (open-market, Form 4, code S) [sold to satisfy tax withholding on an RSU vest per the leg's own footnote — timing and size set by the vest and the tax rate, not by the seller] [CORRECTION 2026-08-28: the sentence opened on 2026-07-06, the day EDGAR indexed this filing. A sibyl head date is the TRADE date (owner ruling 2026-08-22), and the earliest transaction date this filing reports for the sell legs behind this row is 2026-07-01 — now both the head date and the row's traded_date column, which was empty. No figure, actor or mechanic changed. Original text in signal_events] [CORRECTION 2026-09-01: round 13 — this row published “2026-07-01: SHAR JONATHAN (CEO) — discretionary sell — $871.1K of BNED (open-market, Form 4, code S)”, and its own filing says the seller had no say in it. 0001634117-26-000062's footnote F1, cited by the disposal leg this row counts, reads: “Shares sold by Reporting Owner on vesting of restricted performance stock units (payable solely in common stock of the Issuer on the vesting date) to cover applicable withholding taxes.” That is a sell-to-cover: the shares were sold because an award vested and a withholding rate said how many, so neither the DAY nor the SIZE was a decision, and `informed:1` — the strongest bearish qualifier this feed has — was asserted over money nobody chose to raise. THE SENTENCE PREDATES THE RULE THAT READS ITS OWN FOOTNOTE. The sell-to-cover family is not one pattern but a growing set of arms, each added because a live filer stated the same mechanism in words none of the existing ones could reach — five widenings since the class shipped, the most recent of them today. This row was published on 2026-07-07, the arm that classifies it arrived afterwards, and nothing re-read the filing in between. This row was already live at the last full-corpus sweep (2026-08-26), so its filing was re-read once — under a parser that could not yet see this — and passed. THAT IS THE FINDING THIS PASS EXISTS TO MEASURE AND IT IS NOT ABOUT THIS ROW: a widening only ever reaches the rows somebody goes back and re-reads, so every arm shipped since the last full-corpus pass left a shadow behind it, and until today nothing had counted them. NO DOLLAR FIGURE, DATE, SHARE COUNT, ACTOR OR DIRECTION CHANGES: $871.1K really did leave, the direction stays BEARISH by house policy because this is a mechanics relabel and not a re-reading of the trade, and the sentence above is what today's emitters produce from this filing re-read on 2026-09-01. Original text in signal_events]
SEC Form 4 on EDGAR permalink 0001634117-26-000062