ADTRAN Holdings Chairman and CEO Thomas R. Stanton bought $600,900 of company stock on Nov. 6, after shares fell 36% over four trading days beginning Nov. 3, the morning of the company's third-quarter earnings call.

It is Stanton's largest open-market purchase in filings since 2021: roughly double the $300,000 he spent in November 2025, at a price about 45% lower. He paid $4.006 a share for 150,000 shares, near the day's low, which was the stock's lowest level in a year.

Chief Financial Officer Timothy P. Santo added 17,820 shares the same day at $4.1632, a $74,188 purchase and his third open-market buy in less than a year. Both executives' filings state the trades were not made under a prearranged trading plan.

The quarter they bought into was soft. Revenue of $281.2 million rose 0.6% from a year earlier and came in "slightly below the midpoint of our guidance range," Stanton said in the earnings release, citing "a challenging supply environment." The company guided fourth-quarter revenue to $272 million to $292 million and a non-GAAP operating margin of 1% to 5%, after posting 5.0% in the third quarter.

Cash is tighter too. Operations used $24.5 million in the quarter, leaving $71.7 million in cash and restricted cash at the end of September, while borrowings under the company's revolving credit line rose to $83.0 million from $25.0 million at the end of 2025. In its quarterly report, ADTRAN said it believes its resources will support continued compliance with its debt covenants for at least the next 12 months.