Haas Robert D.

Insider trading profile for Haas Robert D. at Levi Strauss & Co (LEVI) -- 232 transactions since 2019-03-25 through 2026-06-12. 3,375,409 shares sold, 0 discretionary acquisitions. Transaction pattern: June 2026 cluster is the most recent and largest activity: 2026-06-12 C-code conversion (202,135 shares) followed immediately by S-code sell at $24.02 (same 202,135 shares); 2026-06-11 C-code conversion (488,851 shares) followed by S-code sell at $24.11 (same 488,851 shares); 2026-06-10 C-code conversion + S-code sell (3,182 shares at $24.00). 2026-06-04 J-code transactions (multiple 361K-592K share events at null price) -- J-code represents a conversion of a derivative to common, similar to C-code but with different tax treatment. May 2026: C-code conversions at null prices. Transaction interpretation: This pattern (C-code or J-code conversion followed by same-day S-code sell at ~$24) is a textbook monetization of vested equity -- the insider is converting derivative securities to common stock and immediately selling the shares. The lockup/lapse period appears to have passed allowing open-market sales. The consistency (same-day conversion + sale, no retention) indicates the insider has no intention of building or maintaining a meaningful LEVI position. Key dates and volumes: June 2026 -- total S-code sells of ~691K shares at $24.00-$24.11; June 2026 J-code conversions of ~2.04M shares. The J-code events on 2026-06-04 (4 transactions totaling ~1.83M shares) appear to be large derivative conversions, likely the remaining tranche from a prior vesting event. Bearish read -- this is a senior insider executing a full monetization of equity compensation at LEVI's current $24 price point. The conversion-sell pairs occur in rapid succession with zero days between C/J-code and S-code, indicating pre-planned execution. The fact that this pattern has persisted since 2019 (7 years) through LEVI's IPO and subsequent trading range ($18-$38) demonstrates structural offloading rather than opportunistic timing. LEVI's business (denim/apparel) faces consumer-spending headwinds; insider liquidation at $24 near the bottom of LEVI's trading range is a notable lack of confidence signal from someone with intimate knowledge of the company's prospects.