Shaffer Michael A

Insider trading profile for Shaffer Michael A -- a cross-apparel insider with activity across PVH Corp (primary, PVH), G III Apparel (GIII), Torrid Holdings (CURV), Children's Place (PLCE), and Build-A-Bear (BBW). Primary company: PVH CORP /DE/ (PVH) -- 238 transactions from 2005-03-17 to 2021-09-10, all sell-side: 511,646 shares sold, 0 acquired. Most recent PVH activity: 2021-09-10 F code (910 shares at $109.13) and S code (12,070 shares at ~$120). Pattern: continuous selling throughout PVH's 2005-2021 period with no buys. The 2021-09 cluster on PVH (M + F + S + I codes) likely represents a full exit or near-full exit. Other companies show a REVERSE pattern: (2) G III Apparel (GIII): 4 transactions 2023-2026 -- ALL A-code acquisitions: 2023-06-08 (6,407 shares, null); 2024-06-18 (5,648); 2025-06-12 (7,294); 2026-06-11 (4,345). Zero sells. (3) Torrid Holdings (CURV): 4 transactions 2022-2025 -- ALL A-code acquisitions: 2022-05-13 (18,882, null); 2023-06-08 (49,408, $0 -- likely exercise); 2024-06-06 (18,768); 2025-06-04 (24,558, null). (4) Children's Place (PLCE): 2 transactions -- A-code acquisitions: 2023-05-10 (3,951); 2024-02-05 (6,980). (5) Build-A-Bear (BBW): 6 transactions 2014-2019 -- derivative offsets. Mixed read -- the insider's behavior is highly differentiated by company: pure seller at PVH (the largest position, holding company for Calvin Klein/Tommy Hilfiger) through 2005-2021, then exclusively an acquirer at GIII, Torrid, and Children's Place from 2022 onward. This bifurcation could reflect: (a) a vesting/lockup expiry at PVH that was fully sold upon leaving or changing roles, combined with direct equity participation in later-stage apparel recovery names (GIII, Torrid); (b) a career arc from PVH executive to board/investor in turnaround retail plays. The pattern at GIII (4 consecutive annual acquisitions, most recently June 2026) is the most notable bullish signal -- systematic accumulation across 3 years. Torrid's pattern of A-code acquisitions at null prices suggests RSU vesting at a company where the insider likely serves as director/officer. Net read: mixed -- this insider's profile is company-specific. Bearish on PVH history (all-sell over 16 years); bullish on GIII and Torrid (systematic annual acquisitions since 2022). The cross-company narrative is that of an apparel industry veteran rotating out of a mature holding company and into turnaround/emerging retail names.