Smart Sand shares surge 10.16% intraday after EVP Whelan buys $22,384 in company stock.

Smart Sand surged 10.16% intraday following significant insider purchases by Ronald P. Whelan, a 10% owner and Executive Vice President. On November 26 and 28, 2025, Whelan acquired 7,658 shares for $22,384, including 3,333 shares at $2.94 and 4,325 shares at $2.91. These transactions, disclosed via SEC Form 4, signaled confidence in the company’s value, as major shareholders’ buying activity is typically interpreted as a bullish catalyst. The purchases coincided with the stock’s intraday rally, suggesting investor reaction to the insider activity. While the company also announced a special $0.05-per-share dividend, the timing of the dividend (scheduled for December 16) did not align with the immediate price movement. The insider transactions directly preceded the intraday surge, making them the primary driver.