PATK PATRICK INDUSTRIES INC

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

Bought back stock in only 1/4 quarters. Q1 2026: $9M, Q3 2025: $0M, Q2 2025: $0M, Q1 2025: $0M

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

New buyback activity: $9M after no prior spending

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

Buyback $9M / FCF $24M = 36% of FCF

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

Repurchased 94,546 shares = 0.6% of 33,224,772 outstanding (annualized)

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

15 open-market purchases by 6 insiders

• Augsburger Blake () bought 400 shares at $85.19 on 2026-05-05
• NEMETH ANDY L (Chief Executive Officer) bought 10,000 shares at $88.00 on 2026-05-05
• WELCH M SCOTT () bought 10,000 shares at $88.22 on 2026-05-05
• WELCH M SCOTT () bought 50 shares at $88.41 on 2026-05-05
• Filer Matthew S () bought 1,000 shares at $85.50 on 2026-05-05
• Roeder Charles R (President - RV) bought 5,750 shares at $87.83 on 2026-05-05
• WELCH M SCOTT () bought 10,000 shares at $113.68 on 2026-03-12
• WELCH M SCOTT () bought 50 shares at $116.40 on 2026-03-06
• WELCH M SCOTT () bought 60 shares at $122.75 on 2026-02-27
• Filer Matthew S () bought 1,000 shares at $139.91 on 2026-02-06

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.

15 insider purchases but company buybacks inactive

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

Insiders bought $4M, sold $3M 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