Eric H. L. So, Executive Chair of Cybin Inc. (CYBN), purchased 100,000 shares of the company on the open market on September 4, 2026, paying $12.09 per share for a total outlay of $1,208,900.00. Following the purchase, So holds 4,365,014 shares directly, according to a Form 4 filed with the SEC.
The purchase did not happen in isolation. It is the second open-market buy from Cybin insiders in a four-day window, part of a cluster of 2 separate transactions between September 1 and September 4, 2026, that together total $2,330,375 in insider spending. That kind of concentrated buying activity across multiple executives in a short span is what we classify here as a cluster buy signal, and it’s the reason this filing stands out from a routine single-insider purchase.
The first leg of this cluster came just a day earlier, when Cybin’s Chief Growth Officer disclosed a $2.2 million stock purchase, detailed in our earlier coverage: Cybin (CYBN) Chief Growth Officer Buys $2.2M in Stock. Taken together, the two filings show that two separate members of Cybin’s leadership committed personal capital to buying shares within the same week, at prices in a similar range.
Why Clustered Buying Draws Attention
A single insider purchase can reflect any number of personal financial decisions and doesn’t necessarily signal anything about a company’s prospects. But when multiple executives buy in the same narrow window, it tends to draw more scrutiny from those who track these filings. Academic research on insider trading has found that clustered buying — several insiders purchasing shares independently over a short period — is statistically associated with better-than-average subsequent stock performance, on average and across large samples. That is a historical pattern observed in aggregate data, not a prediction about any individual company, and it should not be read as a signal to act on this specific filing.
Eric So’s role as Executive Chair means his transactions are among the more closely watched at Cybin, given his position overseeing the board and company strategy. Combined with the Chief Growth Officer’s purchase earlier in the week, the filings paint a picture of insider capital moving into CYBN shares from more than one corner of the leadership team in early September 2026.
All figures above come directly from Form 4 disclosures filed with the SEC and reflect transactions already completed and reported as of the filing date.
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Source: original SEC Form 4 filing.