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%+. Bear: negative FCF or no buybacks.

Negative FCF ($-357M), buybacks not supported by cash flow

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

Repurchased 2,646,694 shares = 2.0% of 135,450,364 outstanding (annualized)

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

7 open-market purchases by 3 insiders

• CASHIN RICHARD M JR () bought 447,100 shares at $9.91 on 2026-03-20
• CASHIN RICHARD M JR () bought 727 shares at $9.94 on 2026-03-19
• 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

Are both company buybacks and insider buying independently active? Bull when the company is buying back stock in 2+ quarters and insiders have made 2+ open-market purchases.

Company buybacks in 2 quarters and 7 insider purchases by 3 insiders (no calendar overlap, but both independently active)

Over the last 90 days, are insiders net buyers or net sellers on the open market?

Insiders bought $24M, sold $0M in the last 90 days (net buying)

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

No buyback-insider divergence detected