Key transaction details
Scott Satterlee, a director at Fastenal Co (NASDAQ: FAST), executed an option exercise and subsequent share sale on January 23, 2026, according to a Form 4 filing with the Securities and Exchange Commission. Satterlee exercised options to acquire 15,964 shares at an exercise price of $19 per share, an outlay of $303,316. Those same 15,964 shares were sold the same day at $44.1903 per share, producing proceeds of $705,453.
The filing notes that the exercised options were part of an earlier grant that had been adjusted for a 2-for-1 stock split effective May 21, 2025. After completing the option exercise and sale, Satterlee now directly holds 50,000 shares of Fastenal common stock.
Company results and analyst reaction
Fastenal reported fourth-quarter 2025 results that showed earnings per share of $0.26, in line with Wall Street expectations. The company, however, missed on revenue. Sales for the quarter rose 11%, matching consensus forecasts, while gross margin came in 50 basis points below estimates.
Analysts offered mixed takes on the quarter. UBS maintained a Neutral rating on Fastenal and set a $46.00 price target, pointing out that December’s average daily sales growth of 10.7% trailed the typical seasonal expectation of 14%. Bernstein reiterated an Underperform rating with a $38.00 price target and highlighted onsite closures and an operating profit shortfall of 2.3% as reasons for caution. Fastenal’s price-cost accounting produced a relatively small headwind, equating to a 10 basis point impact.
Context within the filings
The sequence recorded on the Form 4 shows a common pattern of an insider exercising previously granted options and then liquidating the newly acquired shares. The data in the filing specify the exercise price, the adjustment to the option grant for a prior stock split, the sale price and amount, and the director’s post-transaction direct ownership.
Bottom line
The filings document a net cash generation from the transaction for Satterlee, while Fastenal’s quarter presents a mix of on-target earnings and shortfalls on revenue and margin metrics, prompting differing analyst views and price targets.