Cardinal Infrastructure CDNL Insider Ownership

NASDAQ CDNL

$14.81 -1.06 (-6.65%)

As of: Oct 20, 2026 · 3:21 PM EDT

Insider Holdings by Owner

20.72Mn Shares

Insider Ownership Statistics

as of 30 Sep, 2026

Insider Ownership

43.64%

▲+0.467% pp QoQ

Shares Held by Insiders

20.72Mn

filed for Sep 2026

▲+1.08% QoQ

Shares Outstanding

47.47Mn

47,473,059 shares

Direct Holdings

17.44Mn

Indirect: 3.27Mn

Net Shares Traded (QoQ)

+221.60K

net buying in Sep 2026

Insiders Holding Shares

with Form 4 holdings on file

Shares Owned by Insiders

Shares held % of outstanding

Latest —

Average ownership —

Peak ownership —

Shares Purchased/Sold by Insiders

Bought Sold

Latest quarter —

Net over range —

Buying quarters —

Insider Ownership Summary

Updated Oct 11, 2026

Over the trailing 12 months, CDNL insiders bought $10.68 million worth of shares (289.52K shares) in open-market trades, with no open-market sales.

Cardinal Infrastructure's open-market purchases in the past 12 months came from 8 insiders; no insider sold.
Among CDNL's insiders, Jeremy Simmons Spivey (Chief Executive Officer) was the top open-market buyer in the past 12 months, with $3.2 million of stock purchased (83.35K shares) and the latest purchase on August 14, 2026.
Cardinal Infrastructure's latest insider trade on the open market was a purchase of 7.5K shares for $293,475 by Richard Bennett Wimmer (Director) on August 17, 2026.
Outside the open market, Cardinal Infrastructure insiders received 27Mn shares in stock awards over the past 12 months.
Business Quant data shows Cardinal Infrastructure insiders holding 20.72Mn shares in total in their latest Form 4 filings, or 43.64% of the 47.47Mn shares outstanding; that total is up 1.08% from 20.5Mn shares at the end of Q2 2026.
Direct holdings account for 17.44Mn shares (84.20%) of CDNL's insider total, and indirect holdings through trusts, partnerships and family members for 3.27Mn shares (15.80%).
The insider holdings in Cardinal Infrastructure belong to 10 insiders who have reported on Form 4 within the past two years.
CDNL's three largest insider shareholders, per their latest Form 4 filings, are Jeremy Simmons Spivey (Chief Executive Officer, 12.31Mn shares), Erik Daniel West (Officer and 10% owner, 6.11Mn shares) and Michael Bruce Rowe Jr. (Chief Financial Officer, 2.05Mn shares).
The holding of Jeremy Simmons Spivey makes up 59.43% of all shares held by Cardinal Infrastructure insiders.
Institutions held 46.27% of Cardinal Infrastructure's outstanding shares in their Q2 2026 13F filings.
Over the past 12 months, 10 insiders reported transactions in Cardinal Infrastructure stock in 24 Form 4 filings.
The insider data for CDNL reflects Form 4 filings through August 18, 2026.

Form 4 Holdings

Insiders Holding CDNL

Insiders 10

Shares held 20.72Mn

Of outstanding 43.64%

#	Insider	Position	Direct	Indirect	Total	Share of Insiders	Last Filed
1	Jeremy Simmons Spivey	Chief Executive Officer	10,262,354	2,050,844	12,313,198	59.4%	17 Aug, 2026
2	Erik Daniel West	Officer, TenPercentOwner	5,095,925	1,018,084	6,114,009	29.5%	11 Dec, 2025
3	Michael Bruce Jr. Rowe	Chief Financial Officer	1,841,386	203,617	2,045,003	9.9%	17 Aug, 2026
4	Richard Melvin Jr. Lee	Director	68,254	0	68,254	0.3%	17 Aug, 2026
5	Anthony Leon Jr. Wood	Director	51,400	0	51,400	0.2%	17 Aug, 2026
6	Benjamin Wood	Chief Operating Officer	45,700	0	45,700	0.2%	17 Aug, 2026
7	Ivy Zelman	Director	32,891	0	32,891	0.2%	17 Aug, 2026
8	Richard Bennett Wimmer	Director	29,349	0	29,349	0.1%	18 Aug, 2026
9	Austin J Shanfelter	Director	11,529	0	11,529	0.1%	09 Jun, 2026
10	Tiffany Leann Gidley	General Counsel And Secretary	6,000	0	6,000	0.0%	11 Dec, 2025

Each row is that insider’s most recently reported position, from Form 4 filings over the last 60 months — which is why this total does not tie to the quarterly series above, where a quarter counts only the insiders who filed in it. Shares held through a fund or institutional portfolio are counted on the institutional ownership page instead.

Form 4 Filings

55 Insider Transactions

Source SEC Form 4

Latest quarter Sep 2026

Date	Insider	Position	Transaction	Shares	Price	Value	Shares Held After	Ownership
17 Aug, 2026	Richard Bennett Wimmer	Director	Acquired P	7,500	$39.13	$293.48K	29,349	Direct
14 Aug, 2026	Jeremy Simmons Spivey	Chief Executive Officer	Acquired P	12,366	$36.58	$452.35K	12,366	Direct
14 Aug, 2026	Richard Melvin Jr. Lee	Director	Acquired P	27,000	$36.59	$987.93K	61,254	Direct
14 Aug, 2026	Anthony Leon Jr. Wood	Director	Acquired P	34,019	$39.16	$1.33Mn	34,019	Direct
14 Aug, 2026	Michael Bruce Jr. Rowe	Chief Financial Officer	Acquired P	7,000	$36.53	$255.71K	7,000	Direct
14 Aug, 2026	Benjamin Wood	Chief Operating Officer	Acquired P	13,627	$39.22	$534.45K	33,627	Direct
14 Aug, 2026	Ivy Zelman	Director	Acquired P	12,647	$39.61	$500.95K	32,891	Direct
14 Aug, 2026	Richard Melvin Jr. Lee	Director	Acquired P	7,000	$37.73	$264.11K	68,254	Direct
14 Aug, 2026	Anthony Leon Jr. Wood	Director	Acquired P	17,381	$39.75	$690.89K	51,400	Direct
14 Aug, 2026	Jeremy Simmons Spivey	Chief Executive Officer	Acquired P	14,224	$37.69	$536.10K	26,590	Direct
14 Aug, 2026	Benjamin Wood	Chief Operating Officer	Acquired P	12,073	$39.77	$480.14K	45,700	Direct
14 Aug, 2026	Jeremy Simmons Spivey	Chief Executive Officer	Acquired P	45,249	$38.82	$1.76Mn	71,839	Direct
14 Aug, 2026	Jeremy Simmons Spivey	Chief Executive Officer	Acquired P	11,511	$39.65	$456.41K	83,350	Direct
05 Jun, 2026	Ivy Zelman	Director	Acquired A	1,817	$0.00	$0	20,244	Direct
05 Jun, 2026	Richard Melvin Jr. Lee	Director	Acquired A	1,941	$0.00	$0	34,254	Direct
05 Jun, 2026	Austin J Shanfelter	Director	Acquired A	1,941	$0.00	$0	11,529	Direct
05 Jun, 2026	Richard Bennett Wimmer	Director	Acquired A	2,023	$0.00	$0	21,849	Direct
27 May, 2026	Benjamin Wood	Chief Operating Officer	Acquired P	6,739	$49.89	$336.21K	6,739	Direct
27 May, 2026	Benjamin Wood	Chief Operating Officer	Acquired P	5,355	$50.78	$271.93K	12,094	Direct
27 May, 2026	Benjamin Wood	Chief Operating Officer	Acquired P	4,206	$51.90	$218.29K	16,300	Direct

Showing 1 to 20 of 55 transactions