NE Noble Corp plc

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

Bought back stock in 2/4 quarters. Q3 2025: $250M, Q2 2025: $0M, Q1 2025: $0M, Q3 2024: $10M

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

Latest quarter $250M vs trailing avg $3M (+7400%)

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

Buyback $260M / FCF $25M = 1042% of FCF

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

Repurchased 8,900,000 shares = 5.6% of 158,946,711 outstanding (annualized)

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

23 open-market purchases by 5 insiders

• Hirshberg Al J. () bought 5,000 shares at $23.00 on 2025-03-11
• Hirshberg Al J. () bought 5,000 shares at $23.00 on 2025-03-11
• SLEDGE CHARLES M () bought 8,992 shares at $27.83 on 2025-02-20
• Barker Richard B. (EVP and CFO) bought 8,000 shares at $27.94 on 2025-02-20
• Eifler Robert W. (President & CEO) bought 12,568 shares at $27.85 on 2025-02-20
• APMH Invest A/S () bought 56,371 shares at $34.81 on 2024-11-11
• APMH Invest A/S () bought 303,629 shares at $35.63 on 2024-11-11
• APMH Invest A/S () bought 340,000 shares at $34.58 on 2024-11-08
• APMH Invest A/S () bought 330,000 shares at $35.19 on 2024-11-07
• APMH Invest A/S () bought 73,155 shares at $33.28 on 2024-11-06

Are insider purchases happening during the same quarters the company is actively buying back stock?

Insider buying coincided with company buybacks in 1 of 4 quarters

• Q3 2025: APMH Invest A/S bought while company spent $250M

Looking at all open-market transactions, are insiders net buyers or net sellers?

Insiders bought $123M, sold $183M (net selling)

Active buyback + insiders net selling 3x+ more than buying. Company cash may be supporting price while insiders exit.

No buyback-insider divergence detected