CME CLUSTER SEC Filing Analysis

Final — all horizons settled through T+60d

CME ▼ -17.30% at T+60d

NEUTRAL call ✗ call lost -17.30% · α vs SPY -28.00% · entry $311.25 → $257.40

Currently $255.94 · -17.77% from $311.25 entry

Entry anchored
Mar 11, 03:59 PM ET
via Databento tick

T+1d

+0.05%

call +0.05% · α +0.65%

$311.41

settled 3mo ago

T+5d

-0.20%

call -0.20% · α +0.78%

$310.64

settled 3mo ago

T+20d

-5.17%

call -5.17% · α -7.15%

$295.15

settled 2mo ago

T+60d

-17.30%

call -17.30% · α -28.00%

$257.40

settled 5d ago

Price Chart

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Executive Summary

CME Group insiders executed a cluster of transactions over the past week, primarily tied to annual equity grants and associated tax withholding. The only open-market sale was by General Counsel Marcus Jonathan L, who sold $1.1M in shares. The vast majority of activity consists of non-cash award grants and tax-related share surrenders, including a $19.6M grant to CEO Terrence Duffy.

Key Financial Metrics

Direction

selling

Total Value

$1.1M

Insiders

11

Actionable Insight

No meaningful insider selling signal — activity is consistent with routine annual equity compensation. Traders should ignore the cluster noise and focus on macro drivers like interest rate expectations and trading volume trends.

Key Facts

CEO Terrence Duffy received a grant of 62,902 shares ($19.6M) and surrendered 27,866 shares ($8.7M) for tax withholding.
CFO Lynne Fitzpatrick and other C-suite executives received equity grants and had shares withheld for taxes, standard for annual compensation.
Only one open-market sale occurred: General Counsel Marcus Jonathan L sold 3,291 shares for $1.1M.
Total value of tax-withheld and granted shares exceeds $50M, but these are non-cash, non-discretionary transactions.
Open-market selling represents just 0.001% of CME's $110.8B market cap — immaterial in scale.

Financial Impact

$1.1M in open-market selling, $50M+ in non-cash grant and tax withholding activity

insider ownershipshare countcompensation expense

Risk Factors

Misinterpretation of tax withholding as active selling, which could falsely signal bearish sentiment.
Potential perception of insider disengagement if media misreports the nature of the transactions.

Market Snapshot

Exchange

Nasdaq

Analyst Consensus

55% bullish (20 analysts)

Documents Analyzed

This report is based on 1 SEC document filed with EDGAR.

Document	Accession Number
CONTEXT: Insider Cluster Data (20 trades, 7d window)	cluster-CME-1773928078759

8 reports for CME

T+1T+5T+20T+60

100% Hit rate 3 of 3 directional calls best @ T+60▲ +17.30%Mar 12, 2026

Filters

Reports for CME — sortable, filterable
	Type				Now
May 31, 2026 9d ago	ANALYST-UPGRADE MIXED ★ 2/10	$275.15 $281.32	▲ +2.24%	▲ +2.47%	$255.94 (−6.98%)
May 19, 2026 21d ago	DEFA14A NEUTRAL ★ 4/10	$290.04 $277.34	▼ −4.38%	▼ −6.18%	$255.94 (−11.76%)
May 19, 2026 21d ago	Insider Cluster NEUTRAL ★ 2/10	$290.04 $277.34	▼ −4.38%	▼ −6.18%	$255.94 (−11.76%)
Apr 22, 2026 6w ago	8-K BEARISH ★ 6/10	$285.58 $283.30	▲ +0.80%	▲ +0.85%	$255.94 (+10.38%)
Mar 27, 2026 10w ago	Court Ruling BULLISH ★ 4/10	$293.69 $308.51	▲ +5.05%	▲ +1.18%	$255.94 (−12.85%)
Mar 23, 2026 11w ago	DEFA14A NEUTRAL ★ 3/10	$302.56 $295.23	▼ −2.42%	▼ −2.00%	$255.94 (−15.41%)
Mar 12, 2026 12w ago	Insider Cluster BEARISH ★ 6/10	$311.25 $310.64	▲ +0.20%	▼ −0.78%	$255.94 (+17.77%)
Mar 12, 2026 12w ago	Insider Cluster NEUTRAL ★ 3/10	$311.25 $310.64	▼ −0.20%	▲ +0.78%	$255.94 (−17.77%)

US Market Status

Market Closed — Opens Thu (10h 59m)

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