Cadre Holdings CEO and Chairman Sells 75,000 Shares. Should You Sell CDRE Too?
Key Points
CEO and Chairman Warren B. Kanders sold 75,000 shares across two open-market transactions at an average $27.57 per share on June 18 and June 22, 2026.
This activity reduced Warren B. Kanders's ownership to 10.97 million shares across various accounts.
The executive collected more than $2 million from the sales. He collected more than $4 million in cash compensation in 2025.
In the past week, Warren B. Kanders, the CEO and Chairman of of Cadre Holdings (NYSE:CDRE), reported the sale of 75,000 shares for a total of approximately $2.07 million, according to the SEC Form 4 filing.
Transaction summary
| Metric | Value | Context |
|---|---|---|
| Shares sold (indirect) | 75,000 | Indirect open-market shares sold (code 'S') in this filing |
| Transaction value | $2.1 million | Based on SEC Form 4 weighted average purchase price ($27.57) |
| Post-transaction shares (direct) | 22,888 | Directly held shares after transaction completion |
| Post-transaction shares (indirect) | 946,139 | Indirectly held shares after transaction completion |
| Post-transaction value all (ownership) | $312.73 milion | Based on June 30, 2026 market close ($27.56) |
Transaction value based on SEC Form 4 weighted average sale price ($27.57); post-transaction value based on June 30 market close ($28.51).
Key questions
- How does this sale compare to Warren B. Kanders's historical trading pattern?
With an average of 18.57 trades per year and a mean sell size of approximately 113,945 shares, this 75,000-share sale is below the historical mean, reflecting a reduction in available shares after a multi-year selling cadence. - What proportion of the executive's indirect holdings did this transaction impact?
The sale left more than 10 million shares held directly and indirectly, primarily through Kanders SAF, LLC and related entities. - Did the transaction involve any direct holdings or option exercises?
No direct shares or derivative securities were involved; the entire transaction was executed via indirect ownership vehicles, and there are no options outstanding as of this filing. - What is the remaining exposure and potential for future transactions?
Kanders continues to control substantial indirect holdings of 9,667,039 shares and 22,888 shares directly.
Company overview
| Metric | Value |
|---|---|
| Market capitalization | $1.20 billion |
| Revenue (TTM) | $635.6 million |
| Net income (TTM) | $36.9 million |
| 1-year price change | -9.5% |
* 1-year price change calculated as of June 30.
Company snapshot
- Produces and distributes safety and survival equipment, including body armor, bomb suits, blast-detection sensors, tactical gear, and duty accessories, under brands such as Safariland and Protech Tactical.
- Operates a dual-segment business model, generating revenue from both proprietary product manufacturing and third-party distribution of uniforms, optical devices, footwear, and related protective equipment.
- Serves a diversified customer base, primarily state and local law enforcement, fire and rescue, emergency medical teams, correctional departments, and U.S. federal agencies, as well as international government entities.
Cadre Holdings is a leading provider of mission-critical safety and survivability products for professionals operating in high-risk environments. The company leverages a broad product portfolio and established brands to address the specialized needs of first responders and government agencies worldwide.
What this transaction means for investors
There are multiple reasons an insider may sell stock, some of which have nothing to do with their outlook for the share price, such as having to pay a large personal expense or diversifying their portfolio.
Yet when the CEO and Chairman of a business sells, especially when the stock has been a poor performer, it’s a red flag for investors.
Warren Kanders’ sale isn’t a lot in light of all the shares he and his wife control through various entities, including Roth IRAs. But this is the sixth sale by Kanders in the past year, a period during which he has unloaded 1.9 million shares since Nov. 17, 2025.
Insider sales aren’t always indicative of a price decline, but Kanders has timed his sales well, with CDRE shares declining in price after each transaction. Given that Kanders received cash compensation of more than $4 million from the business. This isn’t an executive who wants for liquidity.
Kanders’ sale of Cadre Holdings stock is a red flag. Investors should reevaluate their investment thesis about the company as a result.
Brendan Coffey has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.