AHCO AdaptHealth Corp.

Did the company actually spend money buying back stock in 3+ of the last 4 quarters?

Bought back stock in 2/4 quarters. Q3 2024: $0M, Q2 2024: $0M, Q1 2024: $9M, Q3 2022: $11M

Is the most recent quarter's buyback spend more than 15% above the trailing average?

Latest quarter $0M vs trailing avg $7M (-100%)

What percentage of free cash flow is going to buybacks? Bull: 30-80%. Bear: <10% or >80%.

Negative FCF ($-272M), cannot compute buyback ratio

How fast are they shrinking the float? Bull: 2%+ annually. Bear: under 0.5%.

Repurchased 2,646,694 shares = 2.0% of 134,602,317 outstanding (annualized)

Are officers and directors buying stock with their own money on the open market?

33 open-market purchases by 9 insiders

• CASHIN RICHARD M JR () bought 689,336 shares at $9.73 on 2026-03-12
• CASHIN RICHARD M JR () bought 536,827 shares at $9.73 on 2026-03-11
• CASHIN RICHARD M JR () bought 820,528 shares at $9.73 on 2026-03-10
• WOLF DALE B () bought 8,000 shares at $8.96 on 2026-02-27
• Rew Richard W. II (CLO and General Counsel) bought 5,000 shares at $8.91 on 2026-02-26
• Clemens Jason A (Chief Financial Officer) bought 720 shares at $14.10 on 2023-08-10
• SkyKnight Aero Holdings II, LLC () bought 200 shares at $17.00 on 2022-06-17
• SkyKnight Aero Holdings II, LLC () bought 100,000 shares at $16.78 on 2022-06-16
• SkyKnight Capital, L.P. () bought 100 shares at $16.95 on 2022-06-14
• SkyKnight Capital, L.P. () bought 99,900 shares at $17.07 on 2022-06-14

Are insider purchases happening during the same quarters the company is actively buying back stock?

Insider buying coincided with company buybacks in 1 of 4 quarters

• Q3 2022: SkyKnight Aero Holdings II, LLC bought while company spent $11M

Looking at all open-market transactions, are insiders net buyers or net sellers?

Insiders bought $36M, sold $89M (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected