Insider Transactions Reported by 12 Insiders of Cardinal Infrastructure Group Inc.

Symbol: CDNL on Nasdaq
Location: Raleigh, NC

Quick Takeaways

CDNL - Cardinal Infrastructure Group Inc. has 12 insiders with reported activity on this page.
Net insider value flow over the last year: +$251,440.
Recent transaction rows are available for direct filing-level review.

What Changed

Buy value: $251,440; sell value: $0.
Net share flow: +6,921.

Why This Matters

This page gives a plain-language issuer insider context before you inspect transaction-level evidence.
Use the filing links below to verify timestamps, codes, and ownership impacts directly from SEC forms.

Source Evidence

Filed on Form 4

Issuer insider activity is sourced from SEC Forms 3, 4, and 5.

See Original Filing

Insider trading overview

Last 12 months

Net insider flow leans to buying over the last 12 months. Net value: +$251,440.

Buys

$251,440

Shares: 6,921

Insiders: 1

Sells

Shares: 0

Insiders: 0

Net

+$251,440

Shares: +6,921

Insiders: 1

Window (months)	Buy shares	Buy $	Sell $	Net $
0-3	6,921	$251,440	$0	+$251,440
3-6	0	$0	$0	$0
6-9	0	$0	$0	$0
9-12	0	$0	$0	$0

Cardinal Infrastructure Group Inc. executives and other stock owners filed with the SEC include:

Name	Relationship	Holdings Value	Past Year Net Change	Change %	Valuation	Report Date
Jeremy Simmons Spivey	Chief Executive Officer, Director, 10%+ Owner	$256,826,808			Mixed	10 Dec 2025
Erik Daniel West	Officer, 10%+ Owner	$128,394,189			Mixed	10 Dec 2025
Michael Bruce Rowe Jr.	Chief Financial Officer	$42,798,063			Mixed	10 Dec 2025
Richard Melvin Lee Jr.	Director	$1,024,130			Median	07 May 2026
Richard Bennett Wimmer	Director	$786,200			Median	07 May 2026
Ivy Zelman	Director	$730,722	+$251,440	+52%	Median	07 May 2026
Austin J. Shanfelter	Director	$346,029			Median	07 May 2026
Benjamin Wood	Chief Operating Officer				Mixed	12 Mar 2026
Mark Mckinney	10%+ Owner				Mixed	10 Dec 2025
Anthony Leon Wood Jr.	Director				Mixed	12 Mar 2026
Ross Berner	10%+ Owner				Mixed	10 Dec 2025
Tiffany Leann Gidley	General Counsel and Secretary				Mixed	11 Dec 2025

Top shareholders of Cardinal Infrastructure Group Inc. (13F + 13D/G + 3/4/5)

Grouped by holder across the latest SEC ownership disclosures. Ownership % is shown only when it is directly reported or safely comparable across share classes.

Methodology: rows are grouped by holder and ranked by the holder's primary source value. — indicates unavailable or non-comparable values; "mixed-class rows" means the latest filing spans non-comparable classes.

Holder	Source	Role / Reporting	Ownership %	Shares	Holdings Value	12M Net Δ	As of	Details
Jeremy Simmons Spivey	13D/G 3/4/5	Chief Executive Officer, Director, 10%+ Owner	45%	12,229,848	$306,724,588	$0	31 Dec 2025	13D/G 3/4/5
Erik Daniel West	13D/G 3/4/5	Officer, 10%+ Owner	29%	6,114,009	$153,339,346	$0	31 Dec 2025	13D/G 3/4/5
FMR LLC	13F 13D/G	Company	12% from 13D/G	1,986,292	$78,766,409	—	31 Mar 2026	13F 13D/G
Michael Bruce Rowe Jr.	13D/G 3/4/5	Chief Financial Officer	29%	2,038,003	$51,113,115	$0	31 Dec 2025	13D/G 3/4/5
ACK Asset Management LLC	13F	Company	5.7%	874,000	$34,658,470	—	31 Mar 2026	13F
Ophir Asset Management Pty Ltd	13F 13D/G	Company	5.3% from 13D/G	802,739	$31,832,615	—	31 Mar 2026	13F 13D/G
LORD, ABBETT & CO. LLC	13F	Company	4.9%	751,558	$29,803,000	—	31 Mar 2026	13F
BlackRock, Inc.	13F	Company	4.6%	697,199	$27,647,426	—	31 Mar 2026	13F
WASATCH ADVISORS LP	13F 13D/G	Company	4.5% from 13D/G	693,050	$27,482,898	—	31 Mar 2026	13F 13D/G
FRED ALGER MANAGEMENT, LLC	13F	Company	4.5%	686,585	$27,226,529	—	31 Mar 2026	13F
DRIEHAUS CAPITAL MANAGEMENT LLC	13F	Company	4.3%	660,514	$26,192,683	—	31 Mar 2026	13F
ALLIANCEBERNSTEIN L.P.	13D/G 13F	Company	7.1%	942,064	$23,626,965	$0	31 Dec 2025	13D/G 13F
EMERALD ADVISERS, LLC	13F	Company	3.8%	578,600	$22,944,383	—	31 Mar 2026	13F
VANGUARD CAPITAL MANAGEMENT LLC	13F	Company	3.4%	515,419	$20,438,940	—	31 Mar 2026	13F
Ross Berner	13D/G 3/4/5	10%+ Owner	5.4%	804,405	$20,174,477	$0	31 Dec 2025	13D/G 3/4/5
Schonfeld Strategic Advisors LLC	13D/G 13F	Company	2.9%	439,707	$19,602,138	-$37,702,331	31 Mar 2026	13D/G 13F
Mark Mckinney	13D/G 3/4/5	10%+ Owner	5.1%	760,438	$19,071,785	$0	31 Dec 2025	13D/G 3/4/5
Conversant Capital LLC	13F	Company	3.1%	471,609	$18,701,655	—	31 Mar 2026	13F
PRINCIPAL FINANCIAL GROUP INC	13F	Company	2.8%	428,263	$16,982,771	—	31 Mar 2026	13F
EMERALD MUTUAL FUND ADVISERS TRUST	13F	Company	2.4%	359,063	$14,238,643	—	31 Mar 2026	13F
FEDERATED HERMES, INC.	13F	Company	2.4%	358,948	$14,234,083	—	31 Mar 2026	13F
Nuveen, LLC	13F	Company	2.2%	342,804	$13,593,893	—	31 Mar 2026	13F
Engle Capital Management, L.P.	13F	Company	2.1%	318,000	$12,610,290	—	31 Mar 2026	13F
GEODE CAPITAL MANAGEMENT, LLC	13F	Company	2%	306,943	$12,175,236	—	31 Mar 2026	13F
STATE STREET CORP	13F	Company	1.8%	267,929	$10,624,725	—	31 Mar 2026	13F
GOLDMAN SACHS GROUP INC	13F	Company	1.1%	174,778	$6,930,822	—	31 Mar 2026	13F
OSTERWEIS CAPITAL MANAGEMENT INC	13F	Company	1.1%	169,936	$6,738,812	—	31 Mar 2026	13F
Point72 Asset Management, L.P.	13F	Company	0.93%	141,770	$5,621,890	—	31 Mar 2026	13F
TWO SIGMA INVESTMENTS, LP	13F	Company	0.9%	136,860	$5,427,183	—	31 Mar 2026	13F
BANK OF AMERICA CORP /DE/	13F	Company	0.82%	125,804	$4,988,758	—	31 Mar 2026	13F
BALYASNY ASSET MANAGEMENT L.P.	13F	Company	0.72%	109,793	$4,353,841	—	31 Mar 2026	13F
Bastion Asset Management Inc.	13F	Company	0.71%	109,080	$4,015,679	—	31 Mar 2026	13F
Ghisallo Capital Management LLC	13F	Company	0.65%	100,000	$3,965,500	—	31 Mar 2026	13F
G2 Investment Partners Management LLC	13F	Company	0.64%	98,023	$3,887,102	—	31 Mar 2026	13F
NORTHERN TRUST CORP	13F	Company	0.62%	95,417	$3,783,761	—	31 Mar 2026	13F
CONGRESS ASSET MANAGEMENT CO	13F	Company	0.57%	87,372	$3,464,737	—	31 Mar 2026	13F
Taylor Frigon Capital Management LLC	13F	Company	0.57%	86,774	$3,441,023	—	31 Mar 2026	13F
Aventail Capital Group, LP	13F	Company	0.57%	86,406	$3,426,430	—	31 Mar 2026	13F
VANGUARD FIDUCIARY TRUST CO	13F	Company	0.56%	85,963	$3,408,863	—	31 Mar 2026	13F
Granahan Investment Management, LLC	13F	Company	0.54%	82,464	$3,270,110	—	31 Mar 2026	13F
VANGUARD PORTFOLIO MANAGEMENT LLC	13F	Company	0.49%	75,002	$2,974,204	—	31 Mar 2026	13F
READYSTATE ASSET MANAGEMENT LP	13F	Company	0.49%	74,450	$2,952,315	—	31 Mar 2026	13F
RENAISSANCE TECHNOLOGIES LLC	13F	Company	0.45%	68,200	$2,704,471	—	31 Mar 2026	13F
Alyeska Investment Group, L.P.	13F	Company	0.33%	50,000	$1,982,750	—	31 Mar 2026	13F
Russell Investments Group, Ltd.	13F	Company	0.27%	41,276	$1,636,809	—	31 Mar 2026	13F
CHARLES SCHWAB INVESTMENT MANAGEMENT INC	13F	Company	0.24%	36,601	$1,451,413	—	31 Mar 2026	13F
KORNITZER CAPITAL MANAGEMENT INC /KS	13F	Company	0.22%	34,002	$1,348,349	—	31 Mar 2026	13F
NATIXIS ADVISORS, LLC	13F	Company	0.2%	30,455	$1,208,000	—	31 Mar 2026	13F
XTX Topco Ltd	13F	Company	0.2%	29,837	$1,183,186	—	31 Mar 2026	13F
UBS Group AG	13F	Company	0.18%	27,820	$1,103,202	—	31 Mar 2026	13F

Recent Insider Transactions by Companies or Individuals for Cardinal Infrastructure Group Inc.

Showing up to 300 most recent insider transactions from the last 12 months.

Insider	Symbol	Class	Transaction	%	Value $	* Price $	Shares	Shares Owned	Date	Ownership
Richard Melvin Lee Jr.	CDNL	Class A Common Stock	Award	13.6%			3,101	25,826	07 May 2026	Direct
Ivy Zelman	CDNL	Class A Common Stock	Award	20.2%			3,101	18,427	07 May 2026	Direct
Austin J. Shanfelter	CDNL	Class A Common Stock	Award	55.1%			3,101	8,726	07 May 2026	Direct
Richard Bennett Wimmer	CDNL	Class A Common Stock	Award	18.5%			3,101	19,826	07 May 2026	Direct
Ivy Zelman	CDNL	Class A Common Stock	Purchase	82.3%	$251,440	$36.33	6,921	15,326	26 Mar 2026	Direct
Richard Bennett Wimmer		Class A Common Stock	Purchase	148.7%			10,000	16,725	11 Dec 2025	Direct
Richard Melvin Lee Jr.		Class A Common Stock	Purchase	350.3%			22,725	29,212	11 Dec 2025	Direct
Ivy Zelman		Class A Common Stock	Purchase	37.1%			2,275	8,405	11 Dec 2025	Direct
Tiffany Leann Gidley		Class A Common Stock	Purchase				6,000	6,000	11 Dec 2025	Direct
Michael Bruce Rowe Jr.		Class B Common Stock	Disposed to Issuer	-24.5%			-66,071	203,617	11 Dec 2025	By The Rowe Family Irrevocable Trust dated March 13, 2024
Michael Bruce Rowe Jr.		Class B Common Stock	Disposed to Issuer	-24.5%			-595,238	1,834,386	11 Dec 2025	Direct
Michael Bruce Rowe Jr.		LLC Units	Disposed to Issuer	-24.5%			-66,071	203,617	11 Dec 2025	By The Rowe Family Irrevocable Trust dated March 13, 2024
Michael Bruce Rowe Jr.		LLC Units	Disposed to Issuer	-24.5%			-595,238	1,834,386	11 Dec 2025	Direct
Jeremy Simmons Spivey		Class B Common Stock	Disposed to Issuer	-24.5%			-665,476	2,050,844	11 Dec 2025	By Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended
Jeremy Simmons Spivey		Class B Common Stock	Disposed to Issuer	-24.5%			-3,302,980	10,179,004	11 Dec 2025	Direct
Jeremy Simmons Spivey		LLC Units	Disposed to Issuer	-24.5%			-665,476	2,050,844	11 Dec 2025	By Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended
Jeremy Simmons Spivey		LLC Units	Disposed to Issuer	-24.5%			-3,302,980	10,179,004	11 Dec 2025	Direct
Erik Daniel West		Class B Common Stock	Disposed to Issuer	-24.5%			-330,357	1,018,084	11 Dec 2025	By West Family 2024 Irrevocable Trust U/A dated 3/20/24, as amended
Erik Daniel West		Class B Common Stock	Disposed to Issuer	-24.5%			-1,653,571	5,095,925	11 Dec 2025	Direct
Erik Daniel West		LLC Units	Disposed to Issuer	-24.5%			-330,357	1,018,084	11 Dec 2025	By West Family 2024 Irrevocable Trust U/A dated 3/20/24, as amended
Erik Daniel West		LLC Units	Disposed to Issuer	-24.5%			-1,653,571	5,095,925	11 Dec 2025	Direct
Michael Bruce Rowe Jr.		Class B Common Stock	Award				269,688	269,688	09 Dec 2025	By The Rowe Family Irrevocable Trust dated March 13, 2024
Michael Bruce Rowe Jr.		Class B Common Stock	Award				2,429,624	2,429,624	09 Dec 2025	Direct
Michael Bruce Rowe Jr.		LLC Units	Award				269,688	269,688	09 Dec 2025	By The Rowe Family Irrevocable Trust dated March 13, 2024
Michael Bruce Rowe Jr.		LLC Units	Award				2,429,624	2,429,624	09 Dec 2025	Direct
Jeremy Simmons Spivey		Class B Common Stock	Award				2,716,320	2,716,320	09 Dec 2025	By Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended
Jeremy Simmons Spivey		Class B Common Stock	Award				13,481,984	13,481,984	09 Dec 2025	Direct
Jeremy Simmons Spivey		LLC Units	Award				2,716,320	2,716,320	09 Dec 2025	By Spivey Family 2024 Irrevocable Trust U/A dated 5/13/24, as amended
Jeremy Simmons Spivey		LLC Units	Award				13,481,984	13,481,984	09 Dec 2025	Direct
Erik Daniel West		Class B Common Stock	Award				1,348,441	1,348,441	09 Dec 2025	By West Family 2024 Irrevocable Trust U/A dated 3/20/24, as amended
Erik Daniel West		Class B Common Stock	Award				6,749,496	6,749,496	09 Dec 2025	Direct
Erik Daniel West		LLC Units	Award				1,348,441	1,348,441	09 Dec 2025	By West Family 2024 Irrevocable Trust U/A dated 3/20/24, as amended
Erik Daniel West		LLC Units	Award				6,749,496	6,749,496	09 Dec 2025	Direct

* An asterisk sign (*) next to the price indicates that the price is likely invalid.