FolioLanternBeta
GLXYGalaxy Digital Inc. · Insider ownership research

Galaxy Digital Inc. insiders sold $16.0M in the past 12 months. How much of their stake is that?

Insiders sold $16.0M in the past 12 months.1% was sold under disclosed trading plans, 1% to cover taxes, 98% with no plan disclosed. The largest seller, Michael Daffey (Director), sold $14.4M. 97% of these sales were shares from exercising options.Share-of-stake figures for this company are being verified and will be added when that check is finished. Why

Updated Oct 13, 2026 from SEC filings · covers Oct 14, 2025 to Oct 13, 2026
2
buyers among officers and directors (13 trades), past 12 months
0.8%
of sales were under disclosed trading plans, past 12 months
3 of 15
officers and directors sold shares, past 12 months
Latest filing: Filed Sep 10 for a sale on Sep 9. Matthew Friedrich sold 5K shares ($135K) under a disclosed plan. Filing
SEC ownership filings: 41 filed in the 12 months to Oct 13, 2026; 80 on record since May 15, 2025 · See the evidence

What stands out

Two directors bought shares: Douglas Deason (71K shares, $1.8M) and Steven Bandrowczak (5.1K shares, $100K). These are the first purchases by current officers or directors in the filings on record.Douglas Deason: purchase, Nov 11, 2025 · Steven Bandrowczak: purchase, Aug 10, 2026
Two insiders sold $15.7M with no disclosed plan: Michael Daffey ($14.4M) and Robert Rico ($1.3M). The filings don't state a reason.Michael Daffey: largest such sale, May 21, 2026 · Robert Rico: largest such sale, Jun 15, 2026

A share of stake is shown for 0 of the 3 officers and directors who sold. 15 are left out

i
Left out: Michael Novogratz, Christopher Ferraro, Michael Daffey, Richard Tavoso, Andrew Siegel, Anthony Paquette, Matthew Friedrich, Erin Brown, Bill Koutsouras, Medina Adams, Jane Dietze, Robert Rico, Dritan Muneka, Douglas Deason and Steven Bandrowczak (share of stake is being verified).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Michael Daffey
Director
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$14.4MNo plan disclosed
Robert Rico
Chief Accounting Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$1.4M13% to cover taxes 87% no plan disclosed
Matthew Friedrich
Chief Legal Officer
Not confirmed
Share of stake not shown: share of stake is being verified. Why
$135KDisclosed plan
Amounts, filings and trading plans for each seller

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNovDecJanFebMarAprMay 2026: $14.4M no plan disclosed$14.4MMayJun 2026: $1.3M no plan disclosedJunJulAug 2026: $179K to cover taxesAugSep 2026: $135K under a disclosed planSepOct

Recent activity

Past 30 days, Sep 14, 2026 to Oct 13, 2026

No officer or director trades were reported for the past 30 days. The most recent before that:

Sep 9, 2026Matthew Friedrich sold 5K shares ($135K) under a disclosed trading plan.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Matthew Friedrich
Chief Legal Officer
4,993$27.03n/an/aSep 9, 2026Sep 10, 2026

Common questions

Is the Galaxy Digital Inc. CEO selling stock?

No. Michael Novogratz reported no open-market sales in the past 12 months.

Why are Galaxy Digital Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 1% of sales by value ran under 10b5-1 trading plans disclosed in the filings, 1% were to cover taxes and 98% had no disclosed plan. A trading plan schedules sales in advance.

Are any Galaxy Digital Inc. insiders buying?

Yes. 2 officers or directors reported 13 purchases in the past 12 months (Form 4 code P; rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust are not counted).

The evidence

Who sold3 officers and directors: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Michael Daffey
Director
$14.4M
500K shares
Not confirmed
share of stake is being verified. Why
No plan disclosed
Robert Rico
Chief Accounting Officer
$1.4M
47K shares
Not confirmed
share of stake is being verified. Why
13% to cover taxes 87% no plan disclosed
Matthew Friedrich
Chief Legal Officer
$135K
5K shares
Not confirmed
share of stake is being verified. Why
Disclosed plan
The full ownership picture0 of 15 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

InsiderHeld Oct 13, 2025SoldHeld Oct 13, 2026Still held
Michael Novogratz
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Michael Novogratz are complete.
Chief Executive Officer, Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Michael Novogratz

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Michael Novogratz are complete; balances and unit counts will be added when the check is finished.

−1.65Mgifted (net of own trusts)
−83Kwithheld by the company for taxes

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
409,271$16.45Mar 31, 2030$4.3M
409,271$11.77Mar 31, 2030$6.2M

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Christopher Ferraro
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Christopher Ferraro are complete.
President and CIO
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Christopher Ferraro

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Christopher Ferraro are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−3.9Kwithheld by the company for taxes

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
1,000,000$6.75Mar 29, 2028$20.3M
81,319$13.46Mar 27, 2029$1.1M
409,271$16.45Mar 31, 2030$4.3M
81,319$9.63Mar 27, 2029$1.4M
900,000$4.83Mar 29, 2028$20.0M
409,271$11.77Mar 31, 2030$6.2M

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Michael Daffey
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Michael Daffey are complete.
Director
n/a−500Kn/an/a
Vesting, gifts, unvested awards and holding lines for Michael Daffey

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Michael Daffey are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
500,000$23.12May 27, 2026$2.0M

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Richard Tavoso
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Richard Tavoso are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Richard Tavoso

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Richard Tavoso are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Andrew Siegel
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Andrew Siegel are complete.
General Counsel & CCO
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Andrew Siegel

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Andrew Siegel are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
34,106$16.45Mar 31, 2030$361K

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Anthony Paquette
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Anthony Paquette are complete.
Chief Financial Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Anthony Paquette

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Anthony Paquette are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−42Kwithheld by the company for taxes

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
300,000$16.45Mar 31, 2030$3.2M
325,000$19.45Mar 31, 2030$2.5M
350,000$22.45Mar 31, 2030$1.6M
225,000$11.77Mar 31, 2030$3.4M

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Matthew Friedrich
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Matthew Friedrich are complete.
Chief Legal Officer
n/a−5Kn/an/a
Vesting, gifts, unvested awards and holding lines for Matthew Friedrich

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Matthew Friedrich are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−31Kwithheld by the company for taxes

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
100,000$28.49Sep 8, 2030$0
100,000$33.49Sep 8, 2030$0
100,000$23.49Sep 8, 2030$354K

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Erin Brown
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Erin Brown are complete.
Chief Operating Officer
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Erin Brown

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Erin Brown are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−59Kwithheld by the company for taxes

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
1,000,000$6.75Mar 29, 2028$20.3M
162,637$13.46Mar 27, 2029$2.2M
272,847$16.45Mar 31, 2030$2.9M
450,000$4.83Mar 29, 2028$10.0M

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Bill Koutsouras
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Bill Koutsouras are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Bill Koutsouras

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Bill Koutsouras are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
100,000$1.39Jun 25, 2025$2.6M

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Medina Adams
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Medina Adams are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Medina Adams

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Medina Adams are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
150,000$5.65Nov 16, 2025$3.2M

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Jane Dietze
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Jane Dietze are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Jane Dietze

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jane Dietze are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Robert Rico
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Robert Rico are complete.
Chief Accounting Officer
n/a−47Kn/an/a
Vesting, gifts, unvested awards and holding lines for Robert Rico

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Robert Rico are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
−4.5Kwithheld by the company for taxes

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
24,710$6.75Mar 29, 2028$501K
28,462$13.46Mar 27, 2029$386K
27,285$16.45Mar 31, 2030$289K
9,678$9.63Mar 27, 2029$168K
18,190$11.77Mar 31, 2030$278K

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Dritan Muneka
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Dritan Muneka are complete.
Controller
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Dritan Muneka

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Dritan Muneka are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options heldStrike priceExpiresIntrinsic value (estimate)
9,263$9.63Mar 27, 2029$161K

Estimate: options held × ($27.03 − strike price), using the most recent insider trade price on Form 4 (Sep 9, 2026), not a market close.

Douglas Deason
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Douglas Deason are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Douglas Deason

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Douglas Deason are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)
Steven Bandrowczak
!
Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Steven Bandrowczak are complete.
Director
n/a0n/an/a
Vesting, gifts, unvested awards and holding lines for Steven Bandrowczak

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Steven Bandrowczak are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for Galaxy Digital Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$16.0M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $16.0M across 552,088 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

The lighter segment is sales with no plan disclosed in the filing ($15.8M), including tax-related sales outside a plan.

No plan disclosed · $15.7M

Sales with no 10b5-1 plan and no tax reference in the filing. $14.4M of it is Michael Daffey. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Michael Daffey, May 21, 2026

Taxes

$179K of sales (1.1%) cite tax obligations in their footnotes. Separately, 222,965 shares ($5.0M) were withheld by the company for taxes, which isn't a market sale. Example: Robert Rico, Aug 6, 2026

Purchases · 2 buyers (13 trades)

2 officers and directors bought shares in this period, in 13 trades(Form 4 code P, leaving out rows the filings describe as reinvested dividends, plan purchases, private deals or moves into the person's own trust). Across all their filings on record there are 13 purchase trades.

Charitable gifts · 1.65M shares

Gifts the filings describe as charitable. Gifts are not sales and are not included in the sale totals.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Michael Daffey
Director
500K$14.4M0%90%May 21, 2026 to May 22, 2026
Robert Rico
Chief Accounting Officer
47K$1.4M0%9%Jun 9, 2026 to Aug 6, 2026
Matthew Friedrich
Chief Legal Officer
5K$135K100%0.8%Sep 9, 2026 to Sep 9, 2026

Sales by month

MonthSale proceedsDisclosed planTo cover taxesNo plan disclosed
Oct 2025$0$0$0$0
Nov 2025$0$0$0$0
Dec 2025$0$0$0$0
Jan 2026$0$0$0$0
Feb 2026$0$0$0$0
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$14.4M$0$0$14.4M
Jun 2026$1.3M$0$0$1.3M
Jul 2026$0$0$0$0
Aug 2026$179K$0$179K$0
Sep 2026$135K$135K$0$0
Oct 2026$0$0$0$0
Known gaps and uncertainty15 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Galaxy Digital Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology80 filings on record, 41 filed in the 12-month period, and how we read them

All 80 Forms 3, 4 and 5 on record for Galaxy Digital Inc. (SEC CIK 1859392), filed from May 15, 2025 to Sep 30, 2026; 41 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 13, 2026. Prices are the ones reported in each filing, often weighted averages. 1 filing was left out because Galaxy Digital Inc. filed them as an owner of another company's stock.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.