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CDRE insider Warren Kanders reports major stock sales at $39

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Cadre Holdings, Inc. (CDRE) CEO and Chairman Warren B. Kanders reported significant stock sales. On 11/17/2025, he sold 1,257,038 shares of Cadre common stock at $39 per share in a direct transaction, leaving him with 1,546 directly held shares. He also reported an indirect sale of 86,903 shares at $39 per share through Kanders SAF, LLC, after which that entity held 10,129,289 shares indirectly for him.

In addition, Kanders reported indirect beneficial ownership of 1,305,650 shares held in the Warren B. Kanders Roth IRA and 23,450 shares held in the Allison Kanders Roth IRA. He is listed as a director, 10% owner, and CEO and Chairman, and disclaims beneficial ownership of certain indirect holdings except to the extent of his pecuniary interest.

Positive

  • None.

Negative

  • None.

Insights

Large insider sale by CEO/Chairman and 10% owner reduces direct holdings; control remains concentrated via affiliated entities.

The filing shows that **Warren B. Kanders**, CEO, Chairman, and **10% owner** of **Cadre Holdings, Inc.**, executed open-market sales (code "S") of Common Stock on 11/17/2025. He sold **1,257,038** shares at **$39** per share from a direct holding, leaving **1,546** shares held directly. An affiliated entity, **Kanders SAF, LLC**, sold **86,903** shares at **$39**, and still holds **10,129,289** shares indirectly attributed to him.

In addition, there are indirect holdings through retirement accounts: **1,305,650** shares via the **Warren B. Kanders Roth IRA** and **23,450** shares via the **Allison Kanders Roth IRA**. He is the sole manager and member of Kanders SAF, LLC, and his spouse’s holdings are reported, while he formally disclaims beneficial ownership beyond his pecuniary interest. The pattern here is a significant reduction in direct ownership with continued large indirect exposure, which can signal a shift in how his stake is structured.

This kind of sizable insider sale by a senior leader and major owner often draws attention because it changes the mix of direct versus indirect control. The remaining indirect stake through Kanders SAF, LLC and the Roth IRAs continues to represent a large block of shares, so influence remains significant. A key point to monitor over the next several quarters is whether additional Form 4 filings report continued dispositions from these indirect holdings or whether this appears as a one-off portfolio adjustment.

Insider KANDERS WARREN B
Role CEO AND CHAIRMAN
Sold 1,343,941 shs ($52.41M)
Type Security Shares Price Value
Sale Common Stock, par value $0.0001 per share ("Common Stock") 1,257,038 $39.00 $49.02M
Sale Common Stock 86,903 $39.00 $3.39M
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Common Stock, par value $0.0001 per share ("Common Stock") — 1,546 shares (Direct); Common Stock — 10,129,289 shares (Indirect, By Kanders SAF, LLC)
Footnotes (1)
  1. The Reporting Person is the sole manager and member of Kanders SAF, LLC. Allison Kanders is the Reporting Person's spouse. The Reporting Person disclaims beneficial ownership of the securities described in this statement, except to the extent of his pecuniary interest in such securities.
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
KANDERS WARREN B
(Last) (First) (Middle)
C/O KANDERS & COMPANY, INC.
250 ROYAL PALM WAY, SUITE 201
(Street)
PALM BEACH FL 33480
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Cadre Holdings, Inc. [ CDRE ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
X Officer (give title below) Other (specify below)
CEO AND CHAIRMAN
3. Date of Earliest Transaction (Month/Day/Year)
11/17/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock, par value $0.0001 per share ("Common Stock") 11/17/2025 S 1,257,038 D $39 1,546 D
Common Stock 11/17/2025 S 86,903 D $39 10,129,289 I By Kanders SAF, LLC(1)(3)
Common Stock 1,305,650 I By Warren B. Kanders Roth IRA
Common Stock 23,450 I By Allison Kanders Roth IRA(2)(3)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. The Reporting Person is the sole manager and member of Kanders SAF, LLC.
2. Allison Kanders is the Reporting Person's spouse.
3. The Reporting Person disclaims beneficial ownership of the securities described in this statement, except to the extent of his pecuniary interest in such securities.
/s/ Warren B. Kanders 11/19/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Cadre Holdings (CDRE) report for Warren B. Kanders?

Warren B. Kanders reported selling 1,257,038 shares of Cadre common stock on 11/17/2025 at $39 per share in a direct transaction.

Did Warren B. Kanders sell any Cadre (CDRE) shares held indirectly?

Yes. On 11/17/2025, an additional 86,903 shares were sold at $39 per share through Kanders SAF, LLC, which then held 10,129,289 shares indirectly.

How many Cadre (CDRE) shares does Warren B. Kanders hold directly after the reported sale?

After the reported direct sale, Warren B. Kanders beneficially owned 1,546 shares of Cadre common stock directly.

What indirect Cadre (CDRE) shareholdings are reported for Warren B. Kanders?

He reports indirect beneficial ownership of 10,129,289 shares via Kanders SAF, LLC, 1,305,650 shares via the Warren B. Kanders Roth IRA, and 23,450 shares via the Allison Kanders Roth IRA.

What is Warren B. Kanders' role at Cadre Holdings (CDRE)?

He is identified as a director, a 10% owner, and an officer serving as CEO and Chairman of Cadre Holdings, Inc.

Does Warren B. Kanders fully claim beneficial ownership of all reported indirect Cadre (CDRE) shares?

No. He disclaims beneficial ownership of certain indirectly held securities, except to the extent of his pecuniary interest in those securities.