On Dec. 12, 2025, Anthony Koblinski, Chief Executive Officer of Karman Holdings (KRMN +4.88%), executed an open-market sale of 75,000 shares for a total consideration of approximately $5.2 million, according to the SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (indirect) | 75,000 |
| *Transaction value | $5.2 million |
| Post-transaction shares (indirect) | 2,315,826 |
| *Post-transaction value (indirect ownership) | $160.51 million |
*Transaction and post-transaction value uses reported price from SEC Form 4 ($69.31).
Key questions
- How significant is the Dec. 5, 2025 transaction relative to prior sales?
The 75,000-share disposal matched each amount of shares sold in the previous three transactions by Koblinski. - Were any shares sold directly, or was all activity through an indirect entity?
All 75,000 shares were sold indirectly through Tandem Trust, a trust for which Koblinski is the primary beneficiary; no shares were sold from direct accounts.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $428.25 million |
| Net income (TTM) | $11.34 million |
| Employees | 1,113 |
| *1-year price change | 360.36% |
*1-year price change calculated using Jan. 9, 2025 as the reference date.
Company snapshot
- Karman Holdings is a mid-sized aerospace and defense supplier that provides solutions for both government and commercial clients.
- Its focus on high-complexity components and program-based revenue provides a distinct competitive position within the aerospace supply chain.
What this transaction means for investors
Koblinski sold a total of 300,000 shares within that four-month period, with each share averaging $65.43, totaling approximately $19.63 million. But the CEO isn't the only insider who sold shares towards the end of 2025.
Karman’s CFO, COO, CGO, and a director all sold shares during the week of Nov. 10, averaging 85,250 shares each at $63.56 per share for an average transaction value of $5.42 million.
The flurry of insider sales to end 2025 isn't too alarming when considering the stock has been surging since the company's IPO on Feb. 13, 2025.
Every month since then has resulted in price gains, outside of November, and the stock is already up 38% YTD (as of Jan. 9). With a forward price-to-earnings (P/E) ratio of nearly 200, there are significantly high expectations for the stock's growth, and investors should consider this stock for their portfolio.
Glossary
Form 4: A required SEC filing disclosing insider trades of company securities by officers, directors, or major shareholders.
Open-market sale: The sale of securities on a public exchange, rather than through a private transaction or direct placement.
Indirect holdings: Securities owned through an entity like a trust or partnership, not held directly in the individual's name.
Tandem Trust: A legal entity (trust) holding assets on behalf of a beneficiary, in this case for Anthony Koblinski.
Beneficiary: The person entitled to receive benefits or assets from a trust or similar legal arrangement.
Disposition: The act of selling or otherwise transferring ownership of an asset or security.
Prime contractor: A company that has a direct contract with a government or agency to provide goods or services, often subcontracting work.
Mission-critical: Essential systems or components whose failure would significantly impact operations or safety.
Flight hardware: Equipment or components designed and built to operate in space or aerospace environments.
Sub-assemblies: Smaller assembled units or components that are combined to create a final product or system.
TTM: The 12-month period ending with the most recent quarterly report.
