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Gill Harpal: insider trades

Officer at Fabrinet. No open-market purchases and 32 sales not made under a pre-set plan, reported from March 10, 2011 to September 4, 2025.

What happened after Gill Harpal’s sales?

After their sales, the shares moved +18.1% against the index over 12 months on average (a negative figure means selling was the right call); 34% 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 32 +10.3% +10.6% 31% 14 1.55 0.15 No reliable evidence
Sales, 12 months after the report 32 +18.1% +13.7% 34% 14 1.87 0.085 No reliable evidence
Sales, 12 months after the trade 32 +16.6% +12.7% 38% 14 1.66 0.12 No reliable evidence

“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
Fabrinet FN PRESIDENT & COO032March 10, 2011September 4, 2025

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
September 4, 2025September 4, 2025 FN Sale $5,044,195 +21.5%−7.1%−7.5%
June 4, 2025June 4, 2025 FN Sale $4,482,000 +46.5%+136.8%+134.4%
March 1, 2024February 29, 2024 FN Sale $4,625,492 +4.4%−30.5%−26.7%
November 21, 2022November 17, 2022 FN Sale $1,448,308 −6.9%+12.0%+16.5%
August 22, 2022August 18, 2022 FN Sale $2,482,065 +22.7%+39.5%−4.8%
November 8, 2021November 4, 2021 FN Sale $2,034,996 −11.2%+17.0%+14.3%
September 7, 2021September 3, 2021 FN Sale $2,495,294 +8.6%+5.8%+5.9%
February 8, 2021February 5, 2021 FN Sale $1,160,345 −13.5%−2.8%−5.6%
August 31, 2020August 28, 2020 FN Sale $1,047,450 −2.8%+22.5%+16.8%
November 15, 2019November 15, 2019 FN Sale $784,156 −4.9%−1.5%−1.5%
November 30, 2018November 28, 2018 FN Sale $1,740,908 +1.4%−2.1%−1.5%
May 31, 2018November 14, 2014 FN Sale $37,590 +26.2%+20.3%+28.3%
May 29, 2018May 29, 2018 FN Sale $594,319 +25.8%+15.5%+11.0%
May 25, 2018May 25, 2018 FN Sale $1,483,230 +20.0%+11.0%+13.3%
May 22, 2018May 22, 2018 FN Sale $1,033,621 +24.1%+15.8%+16.0%
May 21, 2018May 21, 2018 FN Sale $795,196 +21.4%+16.0%+18.0%
August 30, 2017August 30, 2017 FN Sale $1,953,500 −25.5%+3.8%+2.5%
June 2, 2016May 31, 2016 FN Sale $2,899,567 +2.6%−16.6%−18.2%
February 26, 2016February 24, 2016 FN Sale $604,767 +12.6%+20.7%+34.2%
November 17, 2015November 16, 2015 FN Sale $94,180 +32.2%+82.5%+71.4%
November 13, 2015November 11, 2015 FN Sale $365,211 +30.6%+71.4%+62.3%
November 9, 2015November 6, 2015 FN Sale $734,398 +34.2%+69.2%+65.0%
September 2, 2015August 31, 2015 FN Sale $139,180 +12.6%+92.5%+84.9%
November 25, 2014November 24, 2014 FN Sale $257,400 +3.1%+35.1%+32.7%
November 15, 2013November 13, 2013 FN Sale $700,822 −10.2%−33.5%−26.1%
November 12, 2013November 7, 2013 FN Sale $825,964 −6.7%−26.1%−25.6%
November 5, 2013August 28, 2013 FN Sale $48,975 −10.4%−24.7%−15.4%
August 27, 2013August 26, 2013 FN Sale $695,173 +24.1%−15.4%−15.6%
May 31, 2013May 29, 2013 FN Sale $1,725,600 −4.5%+9.5%+12.0%
December 3, 2012November 30, 2012 FN Sale $86,800 +26.6%+30.1%+32.0%
November 28, 2012November 27, 2012 FN Sale $108,449 +23.7%+31.2%+33.8%
March 10, 2011March 9, 2011 FN Sale $2,095,545 +1.6%−18.4%−25.2%

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 Gill Harpal traded and do not suggest the use of non-public information. How every insider compares · the insider trading backtest.