Paul Funk II, a director at Red Cat Holdings, sold 165,028 shares of common stock. The sale occurred on June 11, 2026. The transactions totaled approximately $1.89 million. Shares sold at a weighted average price of $11.50 each. Following this sale, Funk no longer directly holds any common stock in the company.
The insider sale occurs as Red Cat targets growth in the defense and drone sectors. The company recently introduced its Hellcat drone. It is also ramping up production of its Variant 7 uncrewed surface vessel. Red Cat's stock has seen significant appreciation over the past six months. However, some data suggests the stock may be overvalued.