CCOI COGENT COMMUNICATIONS HOLDINGS, INC.

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

Bought back stock in 3/4 quarters. Q1 2026: $106M, Q3 2024: $0M, Q3 2025: $0M, Q3 2018: $0M

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

Latest quarter $106M vs trailing avg $0M (+495838%)

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

Negative FCF ($-49M), buybacks not supported by cash flow

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

Repurchased 306,644 shares = 0.6% of 50,062,158 outstanding (annualized)

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 $1M 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 133930126.4x more than bought. 3 C-suite officers among sellers

• WEED THADDEUS GERARD (VICE PRESIDENT, CFO) sold 4,850 shares on 2026-03-05
• WEED THADDEUS GERARD (VICE PRESIDENT, CFO) sold 7,300 shares on 2025-12-11
• WEED THADDEUS GERARD (VICE PRESIDENT, CFO) sold 4,900 shares on 2025-09-02
• SCHAEFFER DAVE (CHAIRMAN, CEO, AND PRESIDENT) sold 818,909 shares on 2025-08-08
• SCHAEFFER DAVE (CHAIRMAN, CEO, AND PRESIDENT) sold 1,840,669 shares on 2025-08-07
• SCHAEFFER DAVE (CHAIRMAN, CEO, AND PRESIDENT) sold 45,000 shares on 2025-06-16
• SCHAEFFER DAVE (CHAIRMAN, CEO, AND PRESIDENT) sold 25,000 shares on 2025-06-16
• SCHAEFFER DAVE (CHAIRMAN, CEO, AND PRESIDENT) sold 45,000 shares on 2025-06-13
• SCHAEFFER DAVE (CHAIRMAN, CEO, AND PRESIDENT) sold 10,000 shares on 2025-06-13
• SCHAEFFER DAVE (CHAIRMAN, CEO, AND PRESIDENT) sold 45,000 shares on 2025-06-12