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Payne Ulice Jr: insider trades

Director at 2 companies we cover. No open-market purchases and 34 sales not made under a pre-set plan, reported from November 26, 2012 to August 12, 2026.

What happened after Payne Ulice Jr’s sales?

After their sales, the shares moved −8.4% against the index over 12 months on average (a negative figure means selling was the right call); 66% trailed it.

With 296 insiders tested, some will look skilled or unskilled by chance alone: when we replaced each insider’s stocks with random companies bought on the same days, about 5.7 cleared the bar ahead and 23.3 behind. One record on its own proves little.

Trade by trade

MeasuredTrades countedAverage vs S&P 500MedianWent the right wayYearst-statisticp-valueEvidence
Purchases, 3 months after the report 0 — — — — — — Not enough years
Purchases, 6 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the report 0 — — — — — — Not enough years
Purchases, 12 months after the trade 0 — — — — — — Not enough years
Sales, 3 months after the report 33 −3.5% −5.2% 58% 15 −1.94 0.073 No reliable evidence
Sales, 12 months after the report 32 −8.4% −12.2% 66% 14 −1.88 0.083 No reliable evidence
Sales, 12 months after the trade 32 −8.6% −8.1% 66% 14 −2.39 0.033 Some evidence: seller right

“Average vs S&P 500” is the stock’s return including dividends minus the index’s over the same dates, from the close on the first trading day after the report, or from the close on the trade date. Only windows that have finished are counted. For sales, a negative figure means the stock lagged after it was sold, so selling was the right call (green). “Went the right way” is the share of purchases that beat the index, or of sales that trailed it. The t-statistic uses one average per year of reports, because one person’s trades bunch into the same stock and weeks, and needs trades in at least four different years; the p-value comes from the t distribution with that number of years (with four years, a t of 2 has p = 0.14). “Some evidence” means p under 5%, “strong evidence” p under 1% over at least six years.

Companies traded

CompanyTitle on the latest filingPurchasesSalesFirst reportLatest report
WEC Energy Group WEC —021November 26, 2012August 12, 2026
Manpowergroup Inc. MAN —013August 14, 2014May 21, 2024

Trades and what followed

Moves are against the S&P 500; green means the trade went the insider’s way.

ReportedTradedCompanyTradeValue3 months after report12 months after report12 months after trade
August 12, 2026August 11, 2026 WEC Sale $103,468 not yetnot yetnot yet
February 25, 2026February 24, 2026 WEC Sale $166,170 −12.5%not yetnot yet
August 11, 2025August 7, 2025 WEC Sale $179,820 −2.7%−18.2%−24.5%
February 25, 2025February 24, 2025 WEC Sale $119,796 +1.3%−2.4%−3.7%
November 20, 2024November 19, 2024 WEC Sale $49,490 +5.1%−1.2%+3.0%
August 12, 2024August 8, 2024 WEC Sale $66,338 +0.6%+5.2%+6.5%
May 21, 2024May 20, 2024 MAN Sale $60,682 −6.9%−52.6%−52.1%
November 30, 2023November 28, 2023 WEC Sale $50,076 −16.1%−13.2%−6.2%
August 25, 2023August 24, 2023 MAN Sale $85,030 −5.9%−30.4%−31.3%
May 10, 2023May 9, 2023 WEC Sale $141,540 −15.2%−34.1%−34.3%
February 15, 2023February 13, 2023 MAN Sale $69,490 −18.7%−38.6%−40.3%
November 29, 2022November 28, 2022 WEC Sale $92,710 −8.5%−25.6%−28.5%
June 2, 2022May 31, 2022 WEC Sale $78,908 +3.6%−19.3%−19.2%
June 1, 2022June 1, 2022 MAN Sale $52,014 −12.9%−18.6%−15.4%
November 16, 2021November 12, 2021 MAN Sale $113,894 +20.7%+1.9%−2.5%
November 12, 2021November 11, 2021 WEC Sale $107,400 +3.2%+19.6%+20.6%
May 17, 2021May 13, 2021 WEC Sale $231,432 −5.4%+11.3%+11.5%
June 1, 2020May 28, 2020 WEC Sale $104,772 −13.1%−36.6%−32.7%
November 13, 2019November 12, 2019 MAN Sale $44,256 −10.2%−22.1%−23.8%
February 25, 2019February 21, 2019 WEC Sale $504,443 +8.0%+23.1%+16.6%
February 25, 2019February 21, 2019 MAN Sale $149,450 +7.1%−17.0%−11.3%
August 10, 2018August 10, 2018 MAN Sale $120,730 −9.0%−5.5%−4.7%
May 7, 2018May 4, 2018 WEC Sale $103,120 +0.2%+19.4%+15.4%
August 7, 2017August 4, 2017 MAN Sale $226,674 +10.8%−30.6%−29.4%
June 2, 2017May 31, 2017 WEC Sale $56,421 +2.1%−15.1%−10.3%
November 16, 2016November 14, 2016 MAN Sale $151,740 +5.8%+28.7%+30.8%
August 17, 2016August 15, 2016 WEC Sale $275,175 −10.3%−5.3%−5.8%
March 7, 2016March 4, 2016 MAN Sale $177,188 −3.3%+9.6%+3.5%
August 24, 2015August 13, 2015 WEC Sale $93,702 −5.2%+15.4%+19.9%
August 14, 2015August 13, 2015 MAN Sale $132,230 −6.6%−32.4%−31.9%
February 20, 2015February 18, 2015 WEC Sale $230,535 −8.5%+20.2%+19.1%
August 14, 2014July 29, 2014 MAN Sale $57,939 −18.0%+20.1%+5.7%
February 7, 2013February 6, 2013 WEC Sale $395,900 +1.3%−11.2%−10.5%
November 26, 2012November 23, 2012 WEC Sale $364,500 +4.8%−14.5%−10.0%

Open-market purchases and sales of at least $10,000 in companies we cover, from SEC Form 4 filings; sales made under a pre-set Rule 10b5-1 plan are not shown. “Not yet” means the window has not finished or the share price was under $5 at entry. These are the shares’ moves after each trade: they say nothing about why Payne Ulice Jr traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.