Bonnot Lionel

Insider trading profile for Bonnot Lionel -- 217 transactions across two companies: (1) Quantenna Communications (QTNA): 107 transactions 2017-02-15 to 2017-11-28 (pre-acquisition period), 243,578 shares sold. (2) SiTime Corp (SITM): 110 transactions 2020-01-21 to 2026-06-15, 204,416 shares sold. Both companies are in the semiconductor/timing space; Quantenna was acquired by ON Semiconductor in 2020. SITM recent transactions: 2026-06-15 S-code 500 shares at $736.02 (most recent); 2026-06-11 S-code 1,000 shares at $700; 2026-05-20 F-code 5,977 shares at $697 (fee payment); 2025-11-24 S-code 1,078 shares at $269.83; 2025-11-20 F-code 1,888 shares; 2025-09-10 S-code 2,430 shares at $250; 2025-08-22 S-code 1,990 shares at $223.50; 2025-08-20 F-code 2,656 shares; 2025-05-22/20 S-code + F-code; 2025-03-06 S-code 714 shares at $200; 2025-02-24 S-code 3,501 shares at $174.25; 2025-02-20 F-code 3,601 shares; 2025-02-10 A-code acquisitions (5,874 + 4,276 + 2,982 = 13,132 shares) -- discretionary buys at null price; 2024-12-11 S-code 6,177 shares at $254.03; 2024-11-20 F-code 4,504 shares; 2024-09-18 S-code 808 shares at $160; 2024-08-22 S-code 3,230 shares at $140.55; 2024-08-20 F-code 4,501 shares; 2024-08-12 A-code 14,450 shares; 2024-07-11 S-code 2,066 shares at $160; 2024-07-10 S-code 3,966 shares at $150.55. Pattern: the SITM activity is a mix of S-code sells and F-code fee events, with occasional A-code acquisitions (2025-02-10: 13K shares; 2024-08-12: 14,450 shares). The 2024-2025 A-code acquisitions are notable -- they represent the insider building a SITM position during the $140-$250 range. However, these are partially offset by continued S-code sells. The SITM stock has appreciated dramatically from $140 (mid-2024) to $736 (June 2026) -- a 5x gain. The insider's S-code sells at $200-$736 through this entire run represent taking profits on a position built at lower prices. The F-code (fee payment) at $697 (2026-05-20) and $221 (2025-08-20) indicates vesting events where shares were withheld to cover tax obligations. Bearish read: while the 2024 A-code acquisitions (13K-14K shares) show some discretionary accumulation, they are dwarfed by the S-code sells and the overall 6-year sell bias at SITM. The fact that the insider is still selling at $736 -- near SITM's all-time high -- after building into the $140-$250 range suggests profit-taking rather than confidence in further upside. The cross-company pattern (QTNA all-sell during 2017 pre-acquisition + SITM heavy sell since 2020) reinforces the bearish structural reading.