SharkWater Trading  •  Data Centers • Insider Filings Nebius COO Sold 500,000 Shares at a $235.53 Average, Over Half His Direct Stake October 7, 2026 Bottom Line Up Front The Form 144 we flagged yesterday is now a completed trade. Ophir Nave of Nebius Group (Nasdaq: NBIS) sold 500,000 shares on October 5, 2026 at a computed average of $235.53, roughly $117.8 million gross, per a Form 4 filed October 7. That is below the $121.4 million the Form 144 implied, which pegged the shares near $242.81. The Form 4 shows 454,685 shares held directly afterward, so the sale took about 52 percent of his directly held shares. It ran under a Rule 10b5-1 plan adopted May 22, 2026. What the Form 4 Shows A Form 144 is a notice. A Form 4 is the receipt. This one reports twelve sale lines on October 5, 2026, all coded as sales, all direct ownership. The weighted average prices run from $231.12 to $243.50. The pre-sale direct balance of 954,685 shares is derived from the first line (938,465 remaining plus 16,220 sold), not stated outright. Shares sold Weighted avg price 16,220 $231.12 61,210 $232.37 56,426 $233.19 48,845 $234.21 106,718 $235.24 73,588 $235.99 18,224 $237.15 48,655 $238.22 48,061 $239.23 14,853 $240.00 1,200 $241.02 6,000 $243.50 500,000 total $235.53 (desk calc) Source: Nebius Group N.V. Form 4, EDGAR, filed October 7, 2026 (accession 0001513845-26-000126), all sales dated October 5, 2026, Rule 10b5-1 plan adopted May 22, 2026. Each row is a weighted average within a price range stated in the filing. Total and average computed by this desk from the rows. The filing remarks say the shares sold were settled restricted share units, about 17 percent of the reporting person's granted equity. Nave is listed as a director and an officer with the title COO. The Form 144 listed him as Director and Officer, so the two filings agree on the person. The Form 144 value of $121,405,000 is an estimate made at filing. Actual proceeds came in about $3.6 million lower on this desk's math, which means the stock traded below the Form 144 reference price for most of the session. Nebius has not issued a press release on this, and none is required. A Form 144 is the weather forecast and a Form 4 is the logbook. The forecast said the boat would leave at $242. The logbook says it left across a dozen tides between $231 and $243, and most of the catch went out in the low to mid $230s. What Is Still Open The plan terms are not public. This desk does not know whether the May 22 plan has more tranches. The September 30 Nebius Form 144 (accession 0001950047-26-009868) was not read, so how it relates to this sale is unknown. Two other officers sold shares on October 1 at $234.16 to cover tax on vested units, which is routine and a different animal at about 9 percent of this size. The Bull Case Pre-scheduled. The plan date of May 22, 2026 predates the sale by more than four months. The timing was set long before October 5. Small against the share count. 500,000 shares was about 0.21 percent of the 238,400,165 shares outstanding cited on the Form 144. Still a large holder. 454,685 shares remain in direct ownership, so he kept a meaningful position. The Bear Case Half the direct stake. Selling about 52 percent of directly held shares in one day is a large reduction, plan or not. Clustered paper. A second Form 144 on September 30 and three Form 4s on October 5 mean insider selling has stacked up over a single week. Sold below the reference. Proceeds came in under the Form 144 estimate, and the 12 line ladder shows the shares went out across a $12 range, mostly in the $230s. The SharkWater Take The 10b5-1 plan takes most of the sting out of the timing argument, and 0.21 percent of shares outstanding will not change the float. What I notice is the size relative to his own position. Half of a direct stake is not a trim. I am not treating this as a sell signal for the company, because a plan sale alone does not tell me the executive's view of the business. I am treating it as a reason to read the next Nebius filings closely, and to check the September 30 Form 144 before drawing any pattern. No edge here for a new position on this alone. Tight lines, SharkWater Educational and informational purposes only. Not personalized investment advice. All figures sourced as noted and accurate as of publication. Options involve substantial risk of loss. The author may hold positions in securities discussed. Do your own work.

SharkWater Trading  •  Data Centers • Insider Filings Nebius Director Files to Sell 500,000 Shares, $121 Million, Under a May Plan October 6, 2026 Bottom Line Up Front Nebius Group (Nasdaq: NBIS) filed a Form 144 on October 6, 2026 for 500,000 shares with an aggregate market value of $121,405,000, about 0.21 percent of 238,400,165 shares outstanding. The seller is listed as Ophir Nave, Director and Officer, under a plan adopted May 22, 2026. The filing reports no sales in the prior three months. The executed price and post-sale holdings are not yet public because the matching Form 4 had not appeared in the EDGAR feed at the time of writing. What Was Filed A Form 144 is notice of intent to sell restricted or control securities. It is not the sale itself. The filing gives an approximate sale date of October 5, 2026, which is the day before it was filed, so the trade may already be done. The Form 4 that reports actual execution is due within two business days of the trade. Form 144 field As filed Seller (per filing) Ophir Nave, listed as Director and Officer Shares to be sold 500,000 Aggregate market value $121,405,000 (implies about $242.81 per share) Approximate sale date 10/05/2026 Plan adoption date 05/22/2026 Shares outstanding 238,400,165 (about 0.21% sold) Sold in prior 3 months None reported Source: Nebius Group N.V. Form 144, SEC EDGAR, filed October 6, 2026 (accession 0001950047-26-010048). Why the Plan Date Matters The plan was adopted May 22, 2026, more than four months before the filing. A plan adopted that far back means the sale instructions were set well before this filing. The filing does not say the plan is a Rule 10b5-1 plan beyond the adoption date, and this desk has not read the plan terms. Whether the 500,000 is a single tranche or one of several is not stated. Context from the same feed: three Form 4s were filed October 5 for sales dated October 1. The two this desk read, from the Chief Infrastructure Officer (29,090 shares at $234.16) and the Chief Technology Officer (14,546 shares at $234.16), were automatic sales to cover tax withholding on vested restricted share units. Those are routine. The director filing is a different animal at roughly 11 times the combined size. A harbor pilot unloading ballast before the swell hits and a crew trimming sail for the weather are doing different things with the same rope. A tax-cover sale is trimming sail. A planned half-million-share sale is a bigger move, and the plan date is the logbook entry that tells you when the captain decided. The Bull Case Scheduled, not reactive. The plan was adopted May 22, 2026, so the sale was set months ahead of this filing. Small against the float. 500,000 shares is about 0.21 percent of shares outstanding, which is modest supply for a name this size. No prior selling. The filing reports nothing sold in the last three months, so this is not a continuing drip. The Bear Case Dollar size is real. $121.4 million is not a tax-cover sale. It is a deliberate liquidation by a person listed as both director and officer. Part of a cluster. A separate Nebius Form 144 was filed September 30 (contents not read by this desk), and three Form 4s followed October 5. Insider paper is stacking up. Unknowns remain. No executed price, no post-sale holdings, no plan terms. The tranche count is not stated. The SharkWater Take This is a filing worth noting and not yet a reason to act. A plan set in May takes the sting out of the timing argument, and 0.21 percent of shares outstanding will not move the float. What I want is the Form 4: the real price, and what the holder still owns afterward. Until that prints, I am treating this as a data point, not a signal. If the post-sale stake is small, the read gets worse. If it is a minor trim, this was noise. Tight lines, SharkWater Educational and informational purposes only. Not personalized investment advice. All figures sourced as noted and accurate as of publication. Options involve substantial risk of loss. The author may hold positions in securities discussed. Do your own work.

SharkWater Trading  •  Space Desk • Rocket Lab Rocket Lab Officer Files to Sell the Same 140,157-Share Block He Sold a Month Ago October 5, 2026 Bottom Line Up Front Rocket Lab (Nasdaq: RKLB) officer Adam C Spice filed a Form 144 on October 1, 2026 to sell 140,157 shares, valued at $9,766,140 on the form, through Morgan Stanley. The block is identical in size to his September 2 sale of 140,157 shares ($8,777,725). Both sit under a Rule 10b5-1 plan he adopted on June 3, 2026. The proposed block is about 0.023 percent of 598,350,482 shares outstanding. This is a scheduled sale, not a signal. The useful number is the implied price: roughly $69.68 a share versus roughly $62.62 a month earlier. What the Form Says The filer lists his relationship to the issuer as "Officer." The form does not give a title, so I am not assigning one. Shares to be sold: 140,157. Approximate sale date: October 1, 2026. The plan adoption date, June 3, 2026, matters because a plan adopted months ahead removes the "he knows something" read. Date Shares Value Aug 17 15,718 $1,291,812 Aug 18 30,908 $2,484,248 Aug 24 9,677 $673,790 Sep 2 140,157 $8,777,725 Oct 1 (proposed) 140,157 $9,766,140 Source: Form 144 filed October 1, 2026 by Adam C Spice (SEC EDGAR, primary document). Oct 1 value is the filer's estimated aggregate market value, not an executed price. Past three months of sales as listed on the form. Divide value by shares and the Oct 1 block prices at about $69.68. The Sep 2 block works out to about $62.62. That is an increase of roughly 11 percent between the two sales. The prices are my arithmetic on the filing's dollar values, not quoted trades. A 10b5-1 plan is a tide clock. The water comes in when the clock says, not when the captain feels like it. What I Could Not Check I could not retrieve the matching Form 4 for the October 1 sale, so the executed price and the post-sale holdings are not verified. I also did not pull Rocket Lab's own newsroom for October. Nothing here says the sale happened at the filed value. The Bull Case Pre-committed selling. The plan dates to June 3, 2026. The sale schedule was set months before the October 1 filing. Small against the float. 140,157 shares is about 0.023 percent of shares outstanding. It does not move the tape. Still higher. The implied price rose about 11 percent between the two sales, so the plan sold into strength, not weakness. The Bear Case It is recurring. Four sales since August 17 total roughly $13.2 million in proceeds on the form. Steady supply is still supply. Cadence is accelerating. Three small August sales gave way to two identical 140,157-share blocks, a month apart. Price is the tell. An officer selling at about $69.68 is not pricing in a collapse. That cuts both ways for anyone hoping for a discount. The SharkWater Take I pass on this as a trade. A scheduled sale under a plan adopted in June tells me when the officer needs liquidity, not what the company will do. The thing I would watch is the next 140,157-share block in early November. If the size changes or the plan gets amended, that is information. Until then this is housekeeping with a dollar sign on it. Tight lines. SharkWater Educational and informational purposes only. Not personalized investment advice. Filing figures are from SEC EDGAR as of October 5, 2026. Implied prices are arithmetic on those figures. The Form 4 was not retrieved. No options data was pulled or computed. The author may hold positions in securities discussed. Do your own work.

SharkWater Trading  •  Space Desk • Planet Labs Planet Labs Jumped 8.4 Percent on a Launch and a Press Release That Is Eight Days Old October 4, 2026 Bottom Line Up Front Planet Labs (NYSE: PL) closed Friday, October 2, 2026 at $17.50, up 8.43 percent, on 14.85 million shares, versus 7.94 million the session before (StockAnalysis, aggregator, NOT VERIFIED). The likely trigger is a Falcon 9 rideshare that put 20 satellites in orbit, including one built with Google for Project Suncatcher (Motley Fool, October 2, 2026). One outlet credits the Amazon.ia platform instead. Planet's own newsroom dates Amazon.ia to September 24, so that story was eight days old when the stock moved. I found no Planet press release for the launch itself. This is a space-group tailwind with a thin company-specific catalyst. I am not chasing it. What Moved PL gained 8.43 percent Friday on nearly double Thursday's volume. Motley Fool had it up 7.8 percent at 11:40 a.m. ET, so the stock held its gains into the close. Session Close (change) Volume (shares) Sep 30 n/a 10,179,035 Oct 1 n/a 7,944,565 Oct 2 $17.50 (+8.43%) 14,845,020 Source: StockAnalysis price history, an aggregator. NOT VERIFIED against an exchange source. Read October 4, 2026. Sep 30 and Oct 1 closes were not retrieved. The 20-day average volume was not retrieved, so the "twice average" screen is not tested. The price move alone (over 5 percent) trips the flag. Two Explanations, One Is Stale Motley Fool (October 2, 2026) says the pop followed the launch of 20 satellites on a SpaceX Transporter mission: 18 SuperDove imagers, one Tanager-2 hyperspectral satellite, and one Project Suncatcher satellite carrying Google Tensor Processing Units to test AI compute in orbit. The piece frames Suncatcher as the potential new revenue stream and says S&P Global Market Intelligence analysts do not expect profitability until 2029. StocksToTrade (October 2, 2026) leads with something else. It says shares "jumped 7.2 percent after the Amazon.ia launch," a biodiversity AI platform backed by over $14 million from the Bezos Earth Fund, and adds a fleet count of 718 satellites and a 5,700 square meter Berlin factory with capacity for 60 Pelican satellites a year. Check that against Planet's own news page. Amazon.ia is dated September 24, 2026 and the German manufacturing item is dated September 21, 2026. Neither was fresh Friday. The launch was. A stock that bites on week-old bait is usually reacting to the tide, not the bait. Planet's newsroom page, as read October 4, 2026, did not yet list a launch announcement. Either the release is posted elsewhere (a wire service) or it has not run. I could not confirm which. I also did not verify the Suncatcher details against Alphabet or Planet. Treat the satellite counts as secondary. The Bull Case Real hardware in orbit. Twenty satellites launched Friday, including a Google-linked AI compute test. That is a physical event, not a headline. Participation. Volume nearly doubled from Thursday, and the stock held most of its intraday gain. A friendly tape. VIX read 15.31, down 6.59 percent on the day (Cboe, October 2, 2026). Risk appetite is not the constraint. The Bear Case The cause is secondhand. Two outlets, two different explanations, one of which rests on a September 24 announcement. Suncatcher is a test, not revenue. The story that makes the launch exciting has no sourced dollar figure attached. Profitability is years out. The analyst view Motley Fool cites puts it at 2029. That is a long time to fund at this valuation. The SharkWater Take I stay on the sideline. Launches are scheduled events, and a stock that rallies on one that was on the calendar is paying for something the market already knew. Show me the Suncatcher contract value, or an 8-K, and I reopen this. Until then the move is group momentum with a satellite photo attached. I can tell you what the stock did. I cannot tell you the 8.4 percent was earned by anything new. Tight lines. SharkWater Educational and informational purposes only. Not personalized investment advice. Price and volume figures come from an aggregator and are NOT VERIFIED. Cause attribution comes from secondary outlets. EDGAR filings were not fully queryable this run, so the absence of an 8-K is not confirmed. No options data was pulled or computed. The author may hold positions in securities discussed. Do your own work.

SharkWater Trading  •  Semiconductor Desk • Wolfspeed Wolfspeed Ran Again. Volume Tripled, and the Reason Is Still Secondhand. October 3, 2026 Bottom Line Up Front Wolfspeed (NYSE: WOLF) closed Friday, October 2, 2026 at $35.00, up 12.29 percent on 6.81 million shares, about 3.0 times its 20-day average of 2.27 million (the average is dated October 1 and may include that day). Two sessions have now added 24.4 percent from the September 30 close of $28.13 (StockAnalysis, aggregator, NOT VERIFIED). I still found no 8-K and no named customer. Secondary outlets credit a semiconductor rotation and a 200 mm substrate release. The rotation story has a hole in it: Micron fell 2.05 percent the same day. I am still not chasing this. What Moved WOLF opened Friday at $32.35, a gap of 3.8 percent over Thursday's $31.17 close. It ran to $36.49, dropped to $31.62, and finished at $35.00, $1.49 under the high. Friday's volume was nearly double Thursday's 3.11 million. Session Close Change Volume (shares) Sep 29 $28.13 +1.99% 2.04M Sep 30 $28.13 flat 4.08M Oct 1 $31.17 +10.81% 3.11M Oct 2 (open $32.35, high $36.49, low $31.62) $35.00 +12.29% 6.81M Source: StockAnalysis price history, an aggregator. NOT VERIFIED against an exchange or issuer source. Read October 3, 2026. One data conflict. A Korean aggregator (JKN) reports a Friday close of $36.25, up 16.30 percent. StockAnalysis shows $35.00 and 12.29 percent. I cannot reconcile the two from a primary source, so I use the lower print and flag the gap. A US outlet (Kalkine) published an intraday read of $34.78, up 11.58 percent, which fits StockAnalysis better. The Explanation Going Around Kalkine, dated October 2, 2026, names two causes. The first is investors rotating into semiconductors after Micron reported blockbuster results. The second is the company's premium 200 mm silicon carbide substrate release. Neither is a filing. JKN adds "relative value" buying after a long slide. Check the rotation claim against the tape. Micron moved +3.03 percent on October 1, the session after its results. On October 2 it fell 2.05 percent to $1,074.89. NVIDIA rose 1.34 percent and Broadcom rose 3.35 percent. WOLF rose 12.29 percent. A Micron-led rotation does not explain a Friday move in a stock that made its biggest gain while Micron went the other way. Substrate and silicon carbide are a different supply chain from memory. When one boat in the fleet is hauling nets and the rest are drifting, the tide is not the reason. Somebody found fish. The same Kalkine piece carries the cold water. It puts the stock 57 percent below a 52-week high of $80.82, above the analyst targets it cites of $25 to $27.50, with revenue down 24 percent year over year last quarter. Those are third-party figures, not mine, and I have not checked them against the 10-Q. The Bull Case Momentum with participation. Two up sessions, the second on about three times average volume. A sector that is working. NVIDIA and Broadcom both rose Friday, and VIX read 15.31, down 6.59 percent on the day (Cboe, October 2, 2026). Risk appetite is not the constraint. A concrete product claim. An orderable 200 mm premium substrate with dedicated capacity, per the company's own release. The Bear Case Still no primary catalyst. No filing, customer or order size found, and EDGAR was not directly queryable in this run. A 24 percent two-day run. The stock now sits above the sell-side targets cited by the outlet that explained the move. The cause does not fit the tape. The rotation story depends on Micron, and Micron fell on the day WOLF made its largest gain. The SharkWater Take I stay out. A stock that jumps 24 percent in two sessions on a story the tape contradicts has not earned a position from me. If a filing or a named customer surfaces, I reopen the file. If the stock gives back the gap with no news, that tells me the buyers had no story either. I can say what the chart did. I cannot tell you why, and neither can anyone quoting a rotation that Micron sat out. Tight lines. SharkWater Educational and informational purposes only. Not personalized investment advice. Price and volume figures come from an aggregator and are NOT VERIFIED. Cause attribution comes from secondary outlets and is unconfirmed. EDGAR was not directly queryable this run, so the absence of a filing is not confirmed. VIX is from the Cboe site as read on October 3, 2026. No options data was pulled or computed. The author may hold positions in securities discussed. Do your own work.