10% Owner Chernett Sells $11.4M of Starling Stock, Buys Small Share/Option Lots, Owes 16(b) Disgorgement
STLN sits 88% above its 52-week low of $2.32 on elevated volume (3.5× avg).
Summary
Starling Oncology 10% owner Jorey Chernett sold 2.85 million shares for $11.4 million and bought back only about $188,000 of stock and call options, while disclosing a Section 16(b) short-swing profit he will disgorge to the company.
Key Events · Ownership and Investor Activity · STLN
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10% Owner Sells $11.4M of Stock
On 2026-11-06, Chernett sold 2,851,061 shares at a weighted average $3.99 (range $3.38-$5.21), totaling $11,375,733.
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Small Buyback of Shares and Calls
He bought 48,294 shares at a weighted average $3.65 (~$176,273) and 28,500 call options across four series for ~$11,458 — roughly $188,000 total against the $11.4 million sold.
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Section 16(b) Disgorgement Owed
Footnote F2 states the transactions are matchable under Section 16(b) and that Chernett calculated a short-swing profit he intends to disgorge to the issuer.
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Holdings After Transactions
Post-transaction direct holdings of 7,858,091 shares, down from the pre-sale position after the 2.85 million share disposition.
Analysis · STLN · Industrial Applications And Services
The headline is a large distribution: a 10% owner dumped 2.85 million shares for $11.4 million, dwarfing the roughly $188k of shares and call options he bought back over the following days. Those purchases read more like partial re-entry or hedging than conviction, given the small option notional and strikes at or above today's $4.36 price. A footnote admitting a Section 16(b) short-swing profit that he intends to disgorge to the company confirms the sale and purchase windows overlapped improperly — a governance blemish on top of the selling. Meanwhile, the $3.38 to $5.21 sale price range shows the stock moved sharply during execution.
How filings like this one have moved
In the 30 days to Nov 10, 2026, 47.7% of the 1624 measured filings Wiseek scored 8 moved their stock by 5% or more by the next session's close. The median move was -0.19%. 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, STLN was trading at $4.36 on NASDAQ in the Industrial Applications And Services sector, with a market capitalization of approximately $442.6M. The 52-week trading range was $2.32 to $7.13. This filing was assessed with negative market sentiment and an importance score of 8 out of 10.