Director Coyle Discloses $3M IPO Purchase Omitted from Original Form 4
REF sits 15% above its 52-week low of $11.85.
Summary
Director John Joseph Coyle bought $3 million of Reformation stock at the $15 IPO price, disclosed for the first time in this amended Form 4.
Key Events · Ownership and Investor Activity · REF
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Director Buys $3M at IPO Price
Director John Joseph Coyle purchased 200,000 shares at $15.00 per share for $3,000,000 through the IPO directed share program on July 31, 2026.
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Amended Filing Reveals Omitted Purchase
The original Form 4 filed July 31, 2026 inadvertently omitted this purchase; this Form 4/A corrects the record and brings Coyle's post-transaction holdings to 266,313 shares.
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Purchase Below Current Price
The $15.00 purchase price is above today's $13.66 market price, meaning the director's position is currently underwater on this specific lot.
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Context: Post-IPO Material Weakness
This disclosure follows the company's first 10-Q on September 11, 2026, which revealed unremediated material weaknesses in internal controls.
Analysis · REF · Manufacturing
An amended Form 4 reveals that Director John Joseph Coyle bought 200,000 shares for $3 million at the $15.00 IPO price through the directed share program—a transaction inadvertently left out of his original July 31 filing. The purchase signals a meaningful personal commitment from a board member at the IPO price, and the delayed disclosure carries added weight given the company's recent material weakness disclosure.
How filings like this one have moved
In the 30 days to Oct 10, 2026, 29% of the 1641 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.45%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, REF was trading at $13.66 on NYSE in the Manufacturing sector, with a market capitalization of approximately $807M. The 52-week trading range was $11.85 to $17.26. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.