Glaukos Director Liquidates Fifteen Thousand Shares in Structured Insider Transaction

Marc Stapley, a director at Glaukos Corporation (NYSE:GKOS), executed a significant sale of fifteen thousand shares on January 22, 2026, following the exercise of an equivalent number of stock options. The transaction, valued at approximately $1.92 million at a weighted average price of $127.71 per share, represents a material reduction in the executive’s direct equity stake and offers insight into insider confidence levels in the ophthalmic medical device manufacturer.

Trading Activity: The Fifteen Thousand Share Disposition

The fifteen thousand share sale marked a substantial departure from typical administrative dispositions by Stapley, who had maintained a median trading volume of 6,250 shares in transactions since May 2024. The larger-than-usual trade resulted from a structured derivative event: fifteen thousand stock options were exercised, and the underlying shares were immediately sold in the open market on the same day.

All activity was conducted through direct ownership without involvement of indirect entities, corporate structures, or share withholding mechanisms. According to the SEC Form 4 filing, no shares were gifted, transferred, or subject to any derivative arrangements beyond the basic option exercise framework.

Insider Position Changes and Direct Ownership Impact

Prior to this transaction, Stapley maintained direct holdings of 52,449 shares. The disposition of fifteen thousand shares reduced his direct stake to 37,449 shares, representing a 28.60% reduction in his personal shareholding. Based on the closing price of January 22, 2026 ($125.90 per share), his post-transaction direct holdings were valued at approximately $4.71 million, down from the pre-transaction valuation of roughly $6.61 million.

The scaled-back position corresponds to approximately 0.07% of Glaukos’ outstanding shares. Notably, following this transaction, Stapley holds no remaining options outstanding, suggesting he has fully exercised and disposed of his current derivative holdings. This activity was conducted under a Rule 10b5-1 trading plan, a pre-established schedule that allows company insiders to execute transactions on predetermined dates without concerns of trading violations.

Glaukos Corporation’s Market Position and Recent Developments

Glaukos specializes in ophthalmic pharmaceutical therapies and medical devices for glaucoma and related eye conditions, serving ophthalmologists and healthcare institutions across the United States and internationally. The company focuses on treatment solutions for patients with mild-to-moderate open-angle glaucoma and has established itself as a dominant player in the eye health pharmaceutical market, which continues to experience strong demand.

The company carries a market capitalization of $6.85 billion and reported trailing twelve-month revenue of $469.82 million. However, Glaukos has faced significant profitability challenges, with a net loss of $87.61 million over the same period. The company has operated at or near zero profit levels for over five years and continues to face headwinds on the bottom line.

On January 28, 2026—just six days after Stapley’s transaction—Glaukos announced that it received FDA approval for the re-administration of one of its therapeutic supplements to glaucoma patients. This approval represents a significant clinical win, as physicians can now re-administer the supplement multiple times depending on individual patient corneal conditions, expanding the addressable patient population and increasing revenue potential per treated patient.

Market Performance and Investment Context

Glaukos’ stock experienced significant headwinds throughout 2025, declining approximately 24.92% over the twelve-month period ending January 31, 2026. However, the stock has recovered modestly in early 2026, gaining 4.3% during the month of January alone, potentially benefiting from anticipation of positive regulatory developments. The recent FDA approval may provide near-term momentum, though the company’s chronic profitability challenges remain a structural concern for long-term investors evaluating the risk-reward proposition of the equity.

The timing of Stapley’s share liquidation—executed before the FDA approval announcement but potentially reflecting confidence in the underlying business trajectory—provides a data point for investors monitoring insider activity patterns and their correlation with subsequent company performance.