ATEN A10 Networks, Inc.

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

Bought back stock in 4/4 quarters. Q1 2026: $47M, Q3 2025: $9M, Q1 2024: $3M, Q3 2024: $2M

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

Latest quarter $47M vs trailing avg $5M (+845%)

What percentage of free cash flow is going to buybacks? Bull: 30%+. Bear: negative FCF or no buybacks.

Buyback $62M / FCF $154M = 40% of FCF

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

Missing shares repurchased or outstanding data

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

No insider open-market purchases in the last 12 months

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.

Need both buyback and insider purchase data

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

Insiders bought $0M, sold $3M in the last 90 days (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 2934274.5x more than bought. 2 C-suite officers among sellers

• Trivedi Dhrupad (Chief Executive Officer) sold 33,333 shares on 2026-02-11
• Trivedi Dhrupad (Chief Executive Officer) sold 33,333 shares on 2026-02-12
• Trivedi Dhrupad (Chief Executive Officer) sold 33,334 shares on 2026-02-13
• Becker Brian (Chief Financial Officer) sold 6,400 shares on 2025-08-13