AORT ARTIVION, INC.

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

Bought back stock in 4/4 quarters. Q3 2015: $3M, Q3 2014: $0M, Q2 2014: $0M, Q1 2014: $1M

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

Latest quarter $3M vs trailing avg $1M (+408%)

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

Negative FCF ($-10M), cannot compute buyback ratio

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

Repurchased 2,008,000 shares = 4.8% of 41,830,000 outstanding (annualized)

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

2 open-market purchases by 1 insiders

• SEMEDO ANTHONY B. () bought 1,500 shares at $25.33 on 2025-03-05
• SEMEDO ANTHONY B. () bought 600 shares at $25.25 on 2025-03-05

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

Insider buying coincided with company buybacks in 0 of 4 quarters

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

Insiders bought $0M, sold $37M (net selling)

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

Company buying back stock while insiders sold 687.7x more than bought. 5 C-suite officers among sellers

• Horton Amy (VP, Chief Accounting Officer) sold 901 shares on 2026-03-03
• Davis John E (Chief Commercial Officer) sold 4,573 shares on 2026-03-03
• Berry Lance A (EVP, COO, CFO & Treasurer) sold 6,316 shares on 2026-03-03
• Mackin James P (President & CEO) sold 17,887 shares on 2026-03-03
• Horton Amy (VP, Chief Accounting Officer) sold 641 shares on 2026-03-02
• Mackin James P (President & CEO) sold 14,911 shares on 2026-03-02
• Berry Lance A (EVP, COO, CFO & Treasurer) sold 5,178 shares on 2026-03-02
• Davis John E (Chief Commercial Officer) sold 2,784 shares on 2026-03-02
• Horton Amy (VP, Chief Accounting Officer) sold 1,731 shares on 2026-02-23
• Horton Amy (VP, Chief Accounting Officer) sold 830 shares on 2026-02-24