RHP Ryman Hospitality Properties, Inc.

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

Bought back stock in only 0/4 quarters. Q3 2016: $0M, Q3 2017: $0M, Q2 2016: $0M, Q2 2017: $0M

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

No buyback activity

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

Negative FCF ($-294M), buybacks not supported by cash flow

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

Repurchased 9,200,000 shares = 14.6% of 63,006,000 outstanding (annualized)

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

5 open-market purchases by 2 insiders

• REED COLIN V (Exec. Chairman of the Board) bought 7,800 shares at $100.67 on 2026-02-27
• REED COLIN V (Exec. Chairman of the Board) bought 8,993 shares at $92.16 on 2025-11-07
• BOLTON H ERIC JR () bought 2,000 shares at $95.33 on 2025-08-14
• REED COLIN V (Exec. Chairman of the Board) bought 8,611 shares at $95.21 on 2025-08-13
• REED COLIN V (Exec. Chairman of the Board) bought 8,356 shares at $96.92 on 2025-06-09

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.

5 insider purchases but company buybacks inactive

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

Insiders bought $1M, 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