TEMPLIN ROY W

Insider trading profile for TEMPLIN ROY W across three industrial/retail issuers: PRINCIPAL = Whirlpool Corp (WHR, 79 tx, 2004-2012): 70,474 shares sold exclusively. Pattern: late-period M-code options vesting at $0-$31.82 cost, partial S-code monetization at $59-$71 in 2012 -- typical C-suite exercise-and-sell cycle during final employment years. No WHR activity after Feb 2012 (departure). Armstrong World Industries (AWI, 13 tx, 2016-2026): A-code annual RSU vesting 1,064 + 1,465 + 992 + 1,406 + 2,298 + 1,558 + 1,265 + 1,124 + 1,506 + 2,418 + 229 + 1,406 + 992 = 14,823 shares at $0 FMV. Single Nov 2016 P-code purchase of 2,670 at $37.16 -- the only open-market conviction buy in this profile, acquired at an inflection point in AWI's post-spin recovery. Con-way Inc. (CNW, 7 tx, 2012-2015): A-code grants 2,518 + 2,248 + 2,890 + 2,396 = 10,052, U-code 9,092 at $47.60 (Oct 2015 distribution), D-code 2,396 at $47.60. These were short-term diversification awards during CNW employment. KEY SIGNAL: WHR all-sell is stale post-2012 and irrelevant to current WHR read. AWI is the only active position: 14.8K A-code vesting plus the notable Nov 2016 open-market buy at $37 -- this predates the AWI recovery and is at a deep discount to the $187-$393 HII-style appreciation of comparable defense-adjacent building products. The single open-market buy at the lows is the most bullish datapoint. Classification: neutral -- post-retirement WHR liquidation is expected, AWI vesting is routine, but the Nov 2016 P-code buy at $37 is a discreet historical bullish signal now validated by the price trajectory. Net effect is neutral-weighted-slightly-positive because of that 2016 buy.