Galaxy Digital CEO Novogratz Buys $9.9 Million of Class A Stock

Galaxy Digital Inc. (GLXY) Chief Executive Officer Michael Novogratz bought 760,000 shares of Class A common stock on Nov. 5, 2026, for about $9.9 million, according to a Form 4 filed the same day. The two reported transactions were made at weighted average prices of $12.694 and $13.632 a share, in trades from $12.34 to $13.87.

Novogratz is also a director and a 10% owner of the company. Neither purchase was made under a Rule 10b5-1 plan.

A Form 4 is the report that a company's officers, directors and holders of more than 10% of its stock must file within two business days of a trade in the company's shares. Transaction code P, the one used here, marks an open-market or private purchase paid for by the insider, as opposed to grants, option exercises or purchases under an employee plan. AlphaScala's code P guide covers the distinction in more detail.

The first reported transaction covered 528,757 shares at a weighted average price of $12.694, in trades from $12.34 to $13.34, for about $6.7 million. The second covered 231,243 shares at a weighted average price of $13.632, in trades from $13.371 to $13.87, for about $3.2 million. Across both, Novogratz paid an average of $12.98 a share.

Both lines are reported as indirect ownership. Novogratz's indirect holding of Class A common stock was zero before the first purchase and 760,000 shares after the second. On the second line alone, the holding rose 43.7%, from 528,757 shares to 760,000. The trade date and filing date are both Nov. 5, so the filing came zero days after the purchases.

Other Galaxy Digital insiders also traded on the open market in the period before this filing. Between July 23 and Nov. 5, Form 4s filed before that date show two open-market purchases by two buyers, worth $358,545 in total. The larger was a purchase of 12,000 shares for $258,432 by director Douglas R. Deason on Aug. 12. Director Steven John Bandrowczak bought 5,100 shares for $100,113 on Aug. 10.

The same window includes three open-market sales by three sellers, worth $511,192.49. The latest was on Oct. 30, when director Rhonda Adams Medina sold 12,000 shares for $197,424. Novogratz's first purchase came 85 days after the last earlier purchase in the window and six days after that sale.

The remaining sales were by Chief Accounting Officer Robert Daniel Rico, who sold 9,095 shares for $178,807.70 on Aug. 6, and Chief Legal Officer Matthew W. Friedrich, who sold 4,993 shares for $134,960.79 on Sept. 9.