Blum Robert I

The carrier signal is a fixed-size, fixed-interval sale. From mid-2025 the Cytokinetics CEO's record shows 5,000-share dispositions on an almost biweekly grid: $33.55 on July 1, $38.15 on July 14, $36.45 on July 29, $38.42 on August 15, $48.76 on September 2, $49.77 on September 15, $55.05 on October 1, $60.03 on October 16, $62.86 on October 30. After a winter pause the grid resumes with a larger clip — 7,931 shares at $60.72 on March 9, 2026, then straight 7,500-share lots at $66.63, $65.38, $59.62 through April, $77.21 in late May, and $84.92 on July 1, 2026. Uniform sizes on a calendar, indifferent to price, are how prearranged trading plans behave; the March resize suggests the plan itself was refreshed for 2026 at a one-and-a-half-times pace.

What the metronome ignored is the point. Between the first and last rows of this sequence, Blum's own execution prints rose from $33.55 to $84.92 — the stock he was selling roughly two-and-a-half-timed underneath the program, and the program neither accelerated into strength nor paused to let winners run. That indifference cuts both ways for a reader: none of these sales carries information about his view of the price, which is precisely why the rows that break the grid carry more.