LBRT Liberty Energy 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 2025: $39M, Q2 2025: $30M, Q1 2025: $30M, Q3 2024: $29M

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

Latest quarter $39M vs trailing avg $30M (+33%)

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

Negative FCF ($-526M), cannot compute buyback ratio

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?

1 open-market purchase by Murti Arjun N

• Murti Arjun N () bought 9,696 shares at $25.79 on 2026-02-17

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 $1M (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 5.4x more than bought. 2 C-suite officers among sellers

• ELLIOTT R SEAN (Chief Legal Officer) sold 25,000 shares on 2026-02-06
• Stock Michael (Chief Financial Officer) sold 25,000 shares on 2026-02-06
• Stock Michael (Chief Financial Officer) sold 5,000 shares on 2025-04-02