INDV Indivior Pharmaceuticals, 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: $11M, Q3 2025: $52M, Q2 2025: $35M, Q1 2025: $36M

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

Latest quarter $11M vs trailing avg $41M (-73%)

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

Negative FCF ($-86M), buybacks not supported by cash flow

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?

8 open-market purchases by 6 insiders

• Ryan Barbara () bought 8 shares at $31.09 on 2026-03-13
• Ryan Barbara () bought 31 shares at $32.56 on 2026-03-09
• Kingsley Stuart A () bought 940 shares at $31.86 on 2026-03-06
• Ryan Barbara () bought 775 shares at $35.39 on 2026-01-05
• Humphreys Keith () bought 775 shares at $35.39 on 2026-01-05
• NINIVAGGI DANIEL A () bought 775 shares at $35.39 on 2026-01-05
• Stejbach Mark () bought 775 shares at $35.39 on 2026-01-05
• Wheadon David E. () bought 1,771 shares at $35.39 on 2026-01-05

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 4 quarters and 8 insider purchases by 6 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 $0M, 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