REF · Insider Trading

Reformation Inc.

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Every open-market purchase and sale reported by REF officers, directors and 10%+ beneficial owners on SEC Form 4, which must be filed within two business days of the transaction. Sales often reflect scheduled 10b5-1 plans or tax withholding rather than a directional view, so read counts alongside the size and the filer.

Form 4 Filings

most recent

Open-Market Buys

code P

Sales

code S

Reporting Insiders

current holders

REF — Recent Form 4 Transactions (latest 2026-10-09)

Filed	Insider	Role	Type	Shares	Value
2026-10-09	Zipporah Allen	Director	Buy	+3,500	+$52.50K
2026-10-09	John Joseph Coyle	Director	Buy	+200,000	+$3.00M
2026-10-09	Brigitte Kleine	Director	Buy	+200	+$3.00K
2026-09-03	Yael Aflalo	Director	Sell	−60,298	−$841.16K
2026-09-03	Permira VI L.P.1	10%+ Owner	Sell	−598,384	−$8.35M
2026-07-31	Brigitte Kleine	Director	A	+9,333	—
2026-07-31	John Joseph Coyle	Director	A	+9,333	—
2026-07-31	Yael Aflalo	Director	Sell	−1,204,029	−$16.80M
2026-07-31	Stacey Rauch	Director	A	+9,333	—
2026-07-31	Ivan Tchakarov	Chief Operating Officer	A	+166,666	—
2026-07-31	Steven Clive Miller	Director	A	+9,333	—
2026-07-31	Hali Borenstein	CEO and President	MIXED	+962,456	−$2.38M
2026-07-31	Zipporah Allen	Director	A	+9,333	—
2026-07-31	Permira VI L.P.1	10%+ Owner	Sell	−11,948,796	−$166.69M
2026-07-31	Joshua Moore	Chief Financial Officer	A	+256,999	—

REF — Current Insider Holders

Insider	Role	Shares Held	Value
Permira VI L.P.1	10%+ Owner	28,942,153	$428.05M
Yael Aflalo	Director	11,665,505	$172.53M
Hali Borenstein	CEO and President	531,951	$7.87M
Joshua Moore	Chief Financial Officer	324,781	$4.80M
John Joseph Coyle	Director	266,313	$3.94M
Ivan Tchakarov	Chief Operating Officer	186,835	$2.76M
Steven Clive Miller	Director	19,607	$289.99K
Zipporah Allen	Director	12,833	$189.80K
Brigitte Kleine	Director	9,533	$140.99K
Stacey Rauch	Director	9,333	$138.04K

REF Insider Trading FAQ

Who are the insiders at REF?

10 officers, directors and 10%+ beneficial owners currently report holdings in REF via SEC Form 4.

Are REF insiders buying or selling?

Across the 15 most recent Form 4 filings for REF, 3 were open-market purchases (code P) and 4 were sales (code S). Sales frequently reflect scheduled 10b5-1 plans or tax withholding rather than a view on the stock.

How current is REF insider data?

Form 4 must be filed within two business days of the transaction, so this is close to real time. The most recent REF filing is dated 2026-10-09.

How to read Form 4 activity

Form 4 reports a change in beneficial ownership by an officer, director or 10%+ holder, and must be filed within two business days of the transaction — so this is close to real time, unlike the 45-day-lagged 13F institutional data.

Transaction codes matter more than the raw buy/sell count. Code P is an open-market purchase — an insider choosing to buy with their own money, which is the signal most research treats as informative. Code S is a sale, but sales are frequently pre-scheduled under a 10b5-1 plan or cover tax withholding on vesting equity, so a run of sales often says nothing directional. Codes A and M are grants and option exercises rather than open-market decisions.

Full filing history and per-insider positions are on the REF quote page; the site-wide leaderboard is on the insider transactions hub.