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Foda Sherif: insider trades

Chief executive, Officer, Director at 3 companies we cover. No open-market purchases and 12 sales not made under a pre-set plan, reported from August 7, 2013 to September 2, 2026.

What happened after Foda Sherif’s sales?

After their sales, the shares moved −0.6% against the index over 12 months on average (a negative figure means selling was the right call); 64% 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 11 +0.8% −3.7% 64% 7 0.37 0.72 No reliable evidence
Sales, 12 months after the report 11 −0.6% −10.6% 64% 7 −0.16 0.88 No reliable evidence
Sales, 12 months after the trade 11 −0.8% −9.9% 64% 7 −0.09 0.93 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
Schlumberger SLB President Production Group07August 7, 2013April 27, 2016
Energy Recovery, Inc. ERII —04December 11, 2020September 16, 2022
National Energy Services Reunited Corp. NESR Chief Executive Officer01September 2, 2026September 2, 2026

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 2, 2026August 31, 2026 NESR Sale $3,500,000 not yetnot yetnot yet
September 16, 2022September 14, 2022 ERII Sale $404,914 −15.3%−27.5%−24.1%
November 29, 2021November 24, 2021 ERII Sale $449,200 −5.5%+18.2%+11.8%
September 15, 2021September 13, 2021 ERII Sale $120,796 +0.3%+37.4%+28.9%
December 11, 2020December 9, 2020 ERII Sale $199,039 +41.8%+33.0%+43.5%
April 27, 2016April 25, 2016 SLB Sale $276,220 −5.3%−23.9%−20.3%
March 3, 2016March 3, 2016 SLB Sale $14,596 −3.7%−10.6%−11.4%
March 1, 2016February 29, 2016 SLB Sale $72,540 −3.6%−10.8%−9.9%
April 21, 2015April 20, 2015 SLB Sale $467,150 −7.8%−11.9%−13.8%
April 25, 2014April 24, 2014 SLB Sale $1,023,100 +4.5%−22.2%−23.3%
October 23, 2013October 22, 2013 SLB Sale $1,240,800 −7.2%−8.0%−8.8%
August 7, 2013August 7, 2013 SLB Sale $403,729 +10.4%+19.5%+19.0%

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