CNR Core Natural Resources, 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: $101M, Q3 2025: $0M, Q2 2025: $13M, Q1 2025: $58M

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

Latest quarter $101M vs trailing avg $24M (+329%)

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

Buyback $172M / FCF $56M = 307% of FCF

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

Repurchased 6,884 shares = 0.0% of 50,975,185 outstanding (annualized)

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

1 open-market purchase by Lang Paul A

• Lang Paul A (Chief Executive Officer) bought 7,500 shares at $66.95 on 2025-05-09

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 3 quarters but insufficient insider buying

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

Insiders bought $0M, sold $7M 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 15.5x more than bought. 2 C-suite officers among sellers

• Brock James A (Executive Chair and CEO) sold 40,760 shares on 2026-03-18
• Rothka John (Chief Accounting Officer) sold 1,000 shares on 2026-03-17
• Rothka John (Chief Accounting Officer) sold 3,800 shares on 2026-03-10
• Rothka John (Chief Accounting Officer) sold 1,000 shares on 2025-10-08
• Rothka John (Chief Accounting Officer) sold 1,000 shares on 2025-10-09
• Rothka John (Chief Accounting Officer) sold 2,500 shares on 2025-10-03