Berkshire Hathaway (NYSE: BRK.A, BRK.B) CEO Greg Abel filed a Form 4 filing on Thursday, March 5, revealing a massive new position in the company’s own stock.
Specifically, Abel has personally purchased $15 million worth of the conglomerate’s shares, which is roughly equal to his after-tax annual salary.
In fact, Abel now intends to use his full salary each year to buy Berkshire shares going forward, for at least 20 years, as he told CNBC.
As this is the first instance of insider share repurchases since 2024, the news sent Berkshire’s Class B shares up about 1% in early trading.
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The first Berkshire Hathaway insider trade since 2024
The Omaha firm last repurchased shares in the second quarter of 2024. Under Berkshire’s policy, buybacks may occur whenever the chief executive, after consulting with chairman Warren Buffett, determines the market price is below the company’s intrinsic value.
Since assuming the top role, Abel has emphasized continuity with Buffett’s investment philosophy. For instance, in his first annual shareholder letter released over the weekend, he called Buffett “arguably the greatest investor of all time,” claiming his vision still guides the company.
Prior to the latest purchase, Abel held roughly $164.4 million in Berkshire stock, according to the CNBC interview. Buffett himself currently owns about 37.5% of Berkshire’s Class A shares.
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Source: https://finbold.com/insider-trading-alert-for-berkshire-hathaway-stock/
