Eric P. Lefkofsky, who serves as both Chief Executive Officer and Chairman of Tempus AI, Inc. (NASDAQ:TEM), sold 151,520 shares of the company's Class A common stock on March 26, 2026. The transactions were split across multiple trades at prices ranging from $45.78 to $47.42, producing aggregate proceeds of $7,711,150.
The share disposals were carried out indirectly through two limited liability companies for which Lefkofsky is the sole manager. Gray Media, LLC sold 32,750 shares, and Blue Media, LLC sold 126,998 shares as part of the same set of transactions.
After these sales, Lefkofsky remains a major shareholder both indirectly and directly. His indirect holdings include 8,875,033 shares through Gray Media, LLC and 15,789,469 shares through Blue Media, LLC. Additional indirect positions are held through 346 Long LLC with 406 shares, Black Media, LLC with 206 shares, Lefkofsky Family 2025 GRAT with 10,000,000 shares, Lefkofsky Family Foundation with 832,131 shares, and Vas.org Foundation with 250,000 shares. On top of those indirect stakes, Lefkofsky directly holds 2,253,056 shares.
The reported sales were executed pursuant to a Rule 10b5-1 trading plan Lefkofsky adopted on March 4, 2025. Such plans allow insiders to execute predetermined transactions under specific terms and are commonly used to manage potential regulatory and timing issues associated with insider sales.
Tempus AI's market performance at the time of the transaction reflected notable volatility. The stock has fallen 28% year-to-date and was trading at $42.62, which is materially lower than its 52-week high of $104.32.
On the operational front, the company reported strong top-line momentum. Tempus AI posted revenue growth of 83% over the trailing twelve months and reported fourth-quarter results that exceeded analyst expectations. The adjusted loss per share for the quarter was $0.04, better than the $0.20 loss analysts had anticipated. Total revenue for the period rose 83% year-over-year to $367.2 million.
The performance was driven primarily by the Diagnostics segment, which saw revenue climb 121.6% year-over-year to $266.9 million. Within Diagnostics, Oncology test volumes expanded 29% while Hereditary test volumes increased 23%. The Data and Applications segment also contributed to growth, advancing 25.1% year-over-year to $100.4 million.
Tempus AI also announced an expanded, multi-year collaboration with Merck focused on advancing biomarker discovery and development in precision medicine for oncology and additional therapeutic areas. Under the terms described by the company, Merck will utilize Tempus' de-identified data and the Lens Platform to perform complex analyses on multimodal datasets.
Analyst reactions to the company's results and partnership developments were mixed. H.C. Wainwright raised its price target to $95 and maintained a Buy rating, citing the broadened agreement with Merck. Stifel, meanwhile, lowered its price target to $60 and kept a Hold rating, noting that the company's revenues matched pre-announced levels and pointing to growth in the Data and Oncology segments.
Additional corporate- and market-focused metrics noted alongside the transaction include a current ratio of 3.13 for Tempus AI. InvestingPro subscribers are referenced as having access to six additional exclusive tips and broader financial health metrics for the company.
Context and implications
The sales represent an execution under a pre-established trading plan while leaving Lefkofsky with large retained holdings across multiple entities and directly. The firm's recent quarterly results reflect meaningful revenue expansion and segment-level growth, even as the stock price traded well below its year-ago highs.