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UPSUnited Parcel Service · Insider ownership research

United Parcel Service insiders sold $2.7M in the past 12 months. How much of their stake is that?

About 5.5% overall. As a group they still hold 99.9% of their starting shares. The biggest individual seller, Norman Brothers Jr., gave up 52% of starting holdings.

Updated Oct 9, 2026 from SEC filings · covers Oct 10, 2025 to Oct 9, 2026
How this comparesMore of their stake sold than at 272 of the 490 other companies we can measure (#219 of 491)See ranking
0
buyers among officers and directors, past 12 months
0%
of sales were under disclosed trading plans, past 12 months
1 of 21
officers and directors sold shares, past 12 months
Recent activity · past 30 days, Sep 10, 2026 to Oct 9, 2026

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

May 15, 20267 executives had 8.9K shares ($893K) withheld by the company for taxes (not a market sale). That is between 1.6% and 12% of each person's total stake held that day. 21K shares came in from vesting or option exercises the same day, so their combined holdings rose by 12K net.
WhoSharesPrice% of total stakeTotal stake afterTrade dateFiled
Kathleen Gutmann
Pres Intl, Healthcare and SCS
1,582$100.781.6%99KMay 15, 2026May 15, 2026
Nando Cesarone
Chief Global Operations Off
1,582$100.783.5%43KMay 15, 2026May 15, 2026
Brian Dykes
Chief Financial Officer
1,398$100.788.1%16KMay 15, 2026May 15, 2026
Matthew Guffey
CHF Commercial & Strategy Off
1,189$100.7812%8.6KMay 15, 2026May 15, 2026
Norman Brothers Jr.
Chief Legal & Compliance Off
1,116$100.784.3%25KMay 15, 2026May 15, 2026
Bala Subramanian
Chief Digital & Tech Officer
1,027$100.784.0%24KMay 15, 2026May 15, 2026
Darrell Ford
Chief Human Resources Officer
969$100.783.8%24KMay 15, 2026May 15, 2026

"% of total stake" is the shares in this event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings don't reconcile, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Is this normal? Less than usual: about a third of the 5-year average. 1 insider sold; the average is 4 a year. Year by year
Latest filing: Filed May 15 for a tax withholding on May 15. Kathleen Gutmann had 1.6K shares withheld by the company for taxes. Filing
50 SEC ownership filings in the period · See the evidence

What stands out

Norman Brothers Jr. sold 52% of vested holdings: 25K shares for $2.7M, none under a disclosed plan.Largest sale, Jan 28, 2026

Percentages cover 14 of 21 officers and directors. 7 are left out

i
Left out: Kevin Warsh, Rodney Adkins, Franck Moison, Angela Hwang and Kathleen Johnson (held no vested shares at the start); Wayne Hewett and Russell Stokes (most holdings were last confirmed in 2021).
Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Each bar is 100% of that person's own stake; not comparable between people. The stake is the vested shares held at the start of the period (Oct 9, 2025); the gold part is what they sold.

SoldRest of starting stake
Norman Brothers Jr.
Chief Legal & Compliance Off
52% · $2.7MNo plan disclosed
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.

No plan disclosedOne dollar scale for every month; the tallest bar is labeled
OctNovDecJan 2026: $2.7M no plan disclosed$2.7MJanFebMarAprMayJunJulAugSepOct

Common questions

Is the United Parcel Service CEO selling stock?

No. Carol Tome reported no open-market sales in the past 12 months.

Why are United Parcel Service insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 0% of sales by value ran under 10b5-1 trading plans disclosed in the filings and 100% had no disclosed plan. A trading plan schedules sales in advance.

Are any United Parcel Service insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

How much of their stake did United Parcel Service insiders sell?

About 5.5% overall. As a group they still hold 99.9% of their starting shares. The biggest individual seller, Norman Brothers Jr., gave up 52% of starting holdings. That covers the 12 months to Oct 9, 2026 and counts vested shares reported on SEC Forms 3, 4 and 5, which is not an insider's whole wealth.

The evidence

Who sold1 officer or director: amount, % of holdings, trading plan
Who soldAmount% of holdingsTrading plan
Norman Brothers Jr.
Chief Legal & Compliance Off
$2.7M
25K shares
52%No plan disclosed
The full ownership picture21 of 21 insiders fully reconciled · 14 officers and directors

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 9, 2025SoldHeld Oct 9, 2026Still held
Carol Tome
i
Minor difference of 6 shares. Difference is under 0.5% of holdings.
Chief Executive Officer, Director
192K0197Kno sales
Vesting, gifts, unvested awards and holding lines for Carol Tome
0shares vested or exercised
0gifted (net of own trusts)
−2.3Kwithheld by the company for taxes
0 → 30Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock167,229172,694
DirectClass B Common Stock24,71824,718
DirectRestricted Performance Units00

Reconciliation: minor difference of 6 shares. Difference is under 0.5% of holdings.

Kathleen Gutmann
i
Minor difference of 215 shares. Difference is under 0.5% of holdings.
Pres Intl, Healthcare and SCS
96K099Kno sales
Vesting, gifts, unvested awards and holding lines for Kathleen Gutmann
+3.6Kshares vested or exercised
0gifted (net of own trusts)
−2.5Kwithheld by the company for taxes
13K → 38Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock96,30099,444
DirectRestricted Performance Units00

Reconciliation: minor difference of 215 shares. Difference is under 0.5% of holdings.

Norman Brothers Jr.
i
Minor difference of 261 shares. Small increase from a 401(k) plan. Small increase from a 401(k) plan.
Chief Legal & Compliance Off
48K−25K25K52%
Vesting, gifts, unvested awards and holding lines for Norman Brothers Jr.
+2.5Kshares vested or exercised
0gifted (net of own trusts)
−1.7Kwithheld by the company for taxes
9.4K → 26Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock47,83725,106
DirectClass B Common Stock00
DirectRestricted Performance Units00

Reconciliation: minor difference of 261 shares. Small increase from a 401(k) plan.

Nando Cesarone
i
Minor difference of 27 shares. Difference is under 0.5% of holdings.
Chief Global Operations Off
41K044Kno sales
Vesting, gifts, unvested awards and holding lines for Nando Cesarone
+3.6Kshares vested or exercised
0gifted (net of own trusts)
−2.5Kwithheld by the company for taxes
13K → 96Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock40,55043,507
DirectClass B Common Stock11
DirectRestricted Performance Units00

Reconciliation: minor difference of 27 shares. Difference is under 0.5% of holdings.

Darrell Ford
i
Minor difference of 151 shares. Small increase from a 401(k) plan. Small increase from a 401(k) plan.
Chief Human Resources Officer
22K024Kno sales
Vesting, gifts, unvested awards and holding lines for Darrell Ford
+2.2Kshares vested or exercised
0gifted (net of own trusts)
−1.6Kwithheld by the company for taxes
8.1K → 22Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock22,44224,393
DirectRestricted Performance Units00

Reconciliation: minor difference of 151 shares. Small increase from a 401(k) plan.

Bala Subramanian
i
Minor difference of 211 shares. Small increase from a 401(k) plan. Small increase from a 401(k) plan.
Chief Digital & Tech Officer
21K025Kno sales
Vesting, gifts, unvested awards and holding lines for Bala Subramanian
+3.1Kshares vested or exercised
0gifted (net of own trusts)
−1.5Kwithheld by the company for taxes
12K → 61Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock21,08624,562
DirectRestricted Performance Units00

Reconciliation: minor difference of 211 shares. Small increase from a 401(k) plan.

Brian Dykes
i
Minor difference of 36 shares. Difference is under 0.5% of holdings.
Chief Financial Officer
14K016Kno sales
Vesting, gifts, unvested awards and holding lines for Brian Dykes
+3.1Kshares vested or exercised
0gifted (net of own trusts)
−1.6Kwithheld by the company for taxes
14K → 36Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock13,94515,970
DirectRestricted Performance Units00

Reconciliation: minor difference of 36 shares. Difference is under 0.5% of holdings.

William Johnson
Director
10K010Kno sales
Vesting, gifts, unvested awards and holding lines for William Johnson
0shares vested or exercised
0gifted (net of own trusts)
79K → 126Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass B Common Stock10,16010,160
Matthew Guffey
i
Minor difference of 21 shares. Difference is under 0.5% of holdings.
CHF Commercial & Strategy Off
5.2K08.6Kno sales
Vesting, gifts, unvested awards and holding lines for Matthew Guffey
+5.8Kshares vested or exercised
0gifted (net of own trusts)
−2.8Kwithheld by the company for taxes
17K → 37Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock5,1548,581
DirectRestricted Performance Units00

Reconciliation: minor difference of 21 shares. Difference is under 0.5% of holdings.

John Morikis
Director
1.6K01.6Kno sales
Vesting, gifts, unvested awards and holding lines for John Morikis
0shares vested or exercised
0gifted (net of own trusts)
2K → 6.1Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass B Common Stock1,5761,576
Eva Boratto
Director
1.4K01.4Kno sales
Vesting, gifts, unvested awards and holding lines for Eva Boratto
0shares vested or exercised
0gifted (net of own trusts)
13K → 23Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass B Common Stock1,4001,400
Wilfredo Ramos
i
Started reporting during the period; starting holdings are from the Form 3.
Chief Intl, Healthcare and SCS
7950795no sales
Vesting, gifts, unvested awards and holding lines for Wilfredo Ramos
0shares vested or exercised
0gifted (net of own trusts)
6.8K → 12Kunvested awards, start → end
  • Started reporting during the period; starting holdings are from the Form 3.
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass A Common Stock790790
SpouseClass B Common Stock55
Christiana Shi
Director
5000500no sales
Vesting, gifts, unvested awards and holding lines for Christiana Shi
0shares vested or exercised
0gifted (net of own trusts)
24K → 40Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
DirectClass B Common Stock500500
Kevin Clark
Director
2280228no sales
Vesting, gifts, unvested awards and holding lines for Kevin Clark
0shares vested or exercised
0gifted (net of own trusts)
2.4K → 7Kunvested awards, start → end
Held throughShare classOct 9, 2025Oct 9, 2026
LLC IClass B Common Stock8080
LLC IIClass B Common Stock6767
SpouseClass B Common Stock5151
Trust IIClass B Common Stock3030

21 of 21 insiders fully reconciled: starting holdings plus reported transactions match ending holdings (13 exactly, 8 with a minor or footnoted difference). Percentages cover 14 of 21 officers and directors. Left out: Kevin Warsh, Rodney Adkins, Franck Moison, Angela Hwang and Kathleen Johnson (held no vested shares at the start); Wayne Hewett and Russell Stokes (most holdings were last confirmed in 2021). "Still held" compares ending with starting vested shares; a plus sign means the holding grew.

What explains the selling$2.7M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $2.7M across 25,014 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

No plan disclosed · $2.7M

Sales with no 10b5-1 plan and no tax reference in the filing. $2.7M of it is Norman Brothers Jr.. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Norman Brothers Jr., Jan 28, 2026

Taxes

16,524 shares ($1.7M) were withheld by the company for taxes, which isn't a market sale.

SellerShares soldProceedsUnder a disclosed planShare of totalSales dates
Norman Brothers Jr.
Chief Legal & Compliance Off
25K$2.7M0%100%Jan 28, 2026 to Jan 28, 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$2.7M$0$0$2.7M
Feb 2026$0$0$0$0
Mar 2026$0$0$0$0
Apr 2026$0$0$0$0
May 2026$0$0$0$0
Jun 2026$0$0$0$0
Jul 2026$0$0$0$0
Aug 2026$0$0$0$0
Sep 2026$0$0$0$0
Oct 2026$0$0$0$0
Is this normal? Selling year by year5 earlier years to compare with

Less than usual: about a third of the 5-year average. 1 insider sold; the average is 4 a year.

12 months endingShares soldInsiders who soldProceeds
Oct 9, 2026
Latest 12 months
25K1$2.7M
Oct 9, 2025
1 year earlier
17K2$2.4M
Oct 9, 2024
2 years earlier
00$0
Oct 10, 2023
3 years earlier
146K6$26.6M
Oct 10, 2022
4 years earlier
128K7$26.1M
Oct 10, 2021
5 years earlier
84K6$14.8M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertaintyEvery officer and director reconciles

Every officer and director reconciles for this period.

Carol Tome: minor difference of 6 shares. Difference is under 0.5% of holdings.

Kathleen Gutmann: minor difference of 215 shares. Difference is under 0.5% of holdings.

Norman Brothers Jr.: minor difference of 261 shares. Small increase from a 401(k) plan.

Nando Cesarone: minor difference of 27 shares. Difference is under 0.5% of holdings.

Darrell Ford: minor difference of 151 shares. Small increase from a 401(k) plan.

Bala Subramanian: minor difference of 211 shares. Small increase from a 401(k) plan.

Brian Dykes: minor difference of 36 shares. Difference is under 0.5% of holdings.

Matthew Guffey: minor difference of 21 shares. Difference is under 0.5% of holdings.

Inferred rename: "Trust" is treated as the same holder as "Trust 2021", because the old name was never reported again and the new one opened with the same balance (25,000 shares). Old name, new name

Inferred rename: "Trust I" is treated as the same holder as "Trust II", because the old name was never reported again and the new one opened with the same balance (15 shares). Old name, new name

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

Sources and methodology2,230 filings from SEC EDGAR, and how we read them

All 2,230 Forms 3, 4 and 5 filed for United Parcel Service (SEC CIK 1090727) from Jun 24, 2003 to Sep 3, 2026, retrieved from SEC EDGAR on Oct 9, 2026. Prices are the ones reported in each filing, often weighted averages. 1 filing was left out because United Parcel Service 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

Former or inactive filers (50)No filing in 18 months; last reported balances, not in any total
NameLast filedLast reported balance
Laura LaneAug 9, 202425,282 shares, last reported balance as of Aug 8, 2024
Michael BurnsMay 3, 20244,546 shares, last reported balance as of May 7, 2008
Brian NewmanMar 22, 202480,021 shares, last reported balance as of Feb 16, 2024
Kevin WarrenNov 15, 202362,202 shares, last reported balance as of Nov 13, 2023
Charlene ThomasAug 26, 202232,683 shares, last reported balance as of Aug 25, 2022
Ann LivermoreMay 9, 202227,604 shares, last reported balance as of Nov 22, 2013
Philippe GilbertMar 25, 202210,611 shares, last reported balance as of Mar 3, 2022
Juan PerezFeb 22, 202244,174 shares, last reported balance as of Feb 18, 2022
Scott PriceFeb 22, 2022114,335 shares, last reported balance as of Feb 18, 2022
David AbneyAug 28, 2020248,805 shares, last reported balance as of Aug 28, 2020
Rudy MarkhamMay 15, 20201,517 shares, last reported balance as of Nov 8, 2012
Clark Randt Jr.May 15, 2020No balance on record
John StankeyMay 15, 2020No balance on record
George WillisMay 15, 202012,254 shares, last reported balance as of Feb 21, 2020
Richard PeretzFeb 21, 202043,548 shares, last reported balance as of Feb 21, 2020
James BarberJan 3, 202047,952 shares, last reported balance as of Dec 19, 2019
Teri McClureFeb 27, 201976,780 shares, last reported balance as of Feb 25, 2019
Candace KendleMay 11, 2018No balance on record
Alan GershenhornMar 16, 2018113,198 shares, last reported balance as of Mar 14, 2018
Myron GrayMar 16, 2018115,402 shares, last reported balance as of Mar 14, 2018
Mark WallaceJan 26, 201823,308 shares, last reported balance as of Jan 24, 2018
Teresa FinleyMar 15, 201750,549 shares, last reported balance as of Mar 14, 2017
David BarnesMay 26, 2016155,939 shares, last reported balance as of May 25, 2016
Scott DavisMar 18, 2016373,841 shares, last reported balance as of Mar 18, 2016
Kurt KuehnSep 10, 201567,729 shares, last reported balance as of Sep 9, 2015
Mitchell NicholsMay 18, 201543,603 shares, last reported balance as of May 15, 2015
John McDevittMar 4, 2015114,647 shares, last reported balance as of Mar 2, 2015
Michael EskewDec 11, 2014259,209 shares, last reported balance as of Dec 9, 2014
Duane AckermanNov 6, 20141,872 shares, last reported balance as of May 7, 2008
Stuart EizenstatMay 9, 20144,746 shares, last reported balance as of May 7, 2008
Christine OwensOct 29, 201351,806 shares, last reported balance as of Oct 25, 2013
Daniel BruttoMay 13, 2013107,020 shares, last reported balance as of May 10, 2013
John ThompsonMay 3, 201335,681 shares, last reported balance as of May 2, 2013
Allen HillMar 16, 201239,133 shares, last reported balance as of Mar 16, 2012
Robert Stoffel Jr.May 6, 2011109,780 shares, last reported balance as of May 4, 2011
James Winestock Jr.Mar 16, 200938,833 shares, last reported balance as of Mar 13, 2009
Victor PelsonMay 9, 200823,875 shares, last reported balance as of Mar 9, 2009
James KellyMay 9, 2008180,483 shares, last reported balance as of May 7, 2008
Bernardus VerwaayenMay 9, 20085,798 shares, last reported balance as of May 7, 2008
Gary MacdougalApr 27, 20071,508 shares, last reported balance as of Feb 8, 2007
Gary MacdougalApr 27, 2007No balance on record
John BeystehnerJan 4, 2007185,449 shares, last reported balance as of Apr 28, 2007
Lea SoupataJan 6, 2006250,217 shares, last reported balance as of Jan 4, 2006
Christopher MahoneyApr 22, 2005260,819 shares, last reported balance as of Apr 20, 2005
Calvin DardenMar 11, 2005178,297 shares, last reported balance as of Mar 9, 2005
Kenneth LacyMar 11, 2005101,961 shares, last reported balance as of Mar 9, 2005
Robert TeeterJun 4, 200468,141 shares, last reported balance as of Jun 2, 2004
Joseph PyneMar 11, 2004156,120 shares, last reported balance as of Mar 9, 2004
Joseph ModerowNov 21, 2003230,783 shares, last reported balance as of Nov 19, 2003
Thomas WeidemeyerNov 5, 2003334,656 shares, last reported balance as of Nov 3, 2003

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