The past 30 days of insider filings show a surgical pattern: C-suite liquidation concentrated in high-multiple software and semiconductor names RIGHT BEFORE Q2 10-Qs hit in August. KYMR's CEO Mainolfi unloaded 49k shares on July 1st at $115-116, VICR's Vinciarelli sold 4,030 shares on June 29th, CRDO's Cheng moved 7,900 shares on June 23rd—all into strength, all ahead of filing deadlines. This isn't diversification; it's accrual deterioration telegraphed in advance.

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