COP CLUSTER SEC Filing Analysis

Final — all horizons settled through T+60d ⚠ clustered

COP ▼ -2.30% at T+60d

SHORT call ✓ call won +2.30% · α vs SPY +13.91% · entry $121.69 → $118.89

Currently $116.79 · +4.02% from $121.69 entry (call sign-flipped)

Entry anchored
Mar 12, 05:00 PM ET
via Databento tick

T+1d

-0.35%

call +0.35% · α +1.37%

$121.27

settled 3mo ago

T+5d

+4.12%

call -4.12% · α -6.24%

$126.70

settled 3mo ago

T+20d

+1.55%

call -1.55% · α +2.04%

$123.58

settled 2mo ago

T+60d

-2.30%

call +2.30% · α +13.91%

$118.89

settled yesterday

Price Chart

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Executive Summary

ConocoPhillips CEO Lance Ryan Michael exercised options and sold a portion of the resulting shares in a coordinated transaction, generating over $64 million in open-market proceeds. The sale follows a routine option exercise and represents a significant insider disposition, though non-cash transactions dominate the cluster.

Key Financial Metrics

Direction

selling

Total Value

$64.5M

Insiders

1

Actionable Insight

Monitor for follow-up filings to determine if this is part of a broader divestment trend or a one-time liquidity event; assess whether the options exercised were long-held, which could indicate planned wealth diversification rather than negative sentiment

Key Facts

CEO Lance Ryan Michael sold 506,800 shares in the open market for $64,493,594 at an average price of $127.2565
The shares sold were acquired through the exercise of derivative securities: 506,800 shares at $0 (likely incentive options) and 506,800 at $49.755 per share
Total economic value of the open-market sale is $64.5 million, representing approximately 0.04% of ConocoPhillips' $155.1B market cap
All transactions occurred on the same day (2026-03-20), indicating a planned liquidity event

Financial Impact

$64.5 million in open-market share sales by the CEO; no financial impact from non-cash exercises

insider ownershipmarket sentimentshareholder dilution (potential, if new shares issued)

Risk Factors

Perception of insider pessimism given the scale of the sale by the CEO
Potential for short-term downward pressure on stock price due to large volume transaction

Market Snapshot

Exchange

NYSE

Analyst Consensus

73% bullish (33 analysts)

Documents Analyzed

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

Document	Accession Number
CONTEXT: Insider Cluster Data (3 trades, 7d window)	cluster-COP-1774296178337

9 reports for COP

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

100% Hit rate 3 of 3 directional calls best @ T+20▲ +8.09%Mar 20, 2026

Filters

Reports for COP — sortable, filterable
	Type				Now
May 27, 2026 14d ago	Court Ruling BEARISH ★ 5/10	$115.14 $116.87	▼ −1.51%	▼ −0.30%	$116.79 (−1.44%)
Mar 30, 2026 10w ago	DEFA14A NEUTRAL ★ 3/10	$132.86 $131.77	▼ −0.82%	▼ −5.12%	$116.79 (−12.09%)
Mar 20, 2026 11w ago	Insider Cluster BEARISH ★ 8/10	$126.70 $133.79	▼ −5.60%	▼ −7.75%	$116.79 (+7.82%)
Mar 20, 2026 11w ago	Insider Cluster NEUTRAL ★ 5/10	$126.70 $133.79	▲ +5.60%	▲ +7.75%	$116.79 (−7.82%)
Mar 13, 2026 12w ago	Insider Cluster BEARISH ★ 7/10	$121.69 $126.70	▼ −4.12%	▼ −6.24%	$116.79 (+4.02%)
Mar 9, 2026 13w ago	Insider Cluster NEUTRAL ★ 5/10	$116.98 $121.27	▲ +3.67%	▲ +5.02%	$116.79 (−0.16%)
Mar 6, 2026 13w ago	Insider Cluster NEUTRAL ★ 5/10	$116.99 $121.69	▲ +4.02%	▲ +5.55%	$116.79 (−0.17%)
Mar 6, 2026 13w ago	Insider Cluster NEUTRAL ★ 4/10	$116.99 $121.69	▲ +4.02%	▲ +5.55%	$116.79 (−0.17%)
Mar 6, 2026 13w ago	Insider Cluster BEARISH ★ 6/10	$116.99 $121.69	▼ −4.02%	▼ −5.55%	$116.79 (+0.17%)

US Market Status

Market Closed — Opens Thu (10h 13m)

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