Wealth Signal
Edition · Edition 003 / What Repeats · Topic 02

Three of this week's loudest screener numbers are artifacts

Mecklenburg shows −100% because a Class B conversion created the Class A he sold. Ben Silbermann shows −87% at Pinterest for the same reason — identical 93,750-share blocks on 6–7 October and again on 13–14 October, each preceded by a conversion, each under a 10b5-1 plan, one of them through a family trust. Harvey Snowling shows −60% at Borr Drilling because a cashless option exercise was coded "P" instead of "M". In all three cases the reported change in holdings is an accounting consequence of how the shares were created, not a change in anyone's exposure. The screener's percentage column reads one account line; the economics live across several.

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