Cybin Inc. (CYBN) Chief Growth Officer Paul Glavine purchased 100,000 shares of the company on the open market on September 8, 2026, paying $12.47 per share for a total outlay of $1,247,190.00. Following the purchase, Glavine holds 4,271,252 shares directly, according to a Form 4 filed with the SEC.
The transaction was not an isolated move. It is the fourth open-market purchase by Cybin insiders in a tight window between August 31 and September 8, 2026, with the combined value of these four purchases now reaching $4,715,337. Our system flags this pattern as a cluster buy, a classification reserved for situations where multiple insiders, or the same insider repeatedly, commit personal capital to open-market purchases within a short stretch of time.
A Cluster That Keeps Growing
Cluster buying tends to draw more attention from market watchers than a single insider transaction, largely because it signals that more than one person close to the company is independently willing to put money behind the stock at current prices. We covered the early stages of this same cluster as it built, including a purchase by Cybin’s Chair that pushed the running total to $3.6 million, detailed in our earlier report, Cybin (CYBN) Chair Buys $1.24M More, Cluster Hits $3.6M. With Glavine’s latest purchase, the cluster has grown by more than $1.1 million since that report, now standing at $4,715,337 across the four disclosed transactions.
Academic research on insider trading has found that clustered open-market buying, where several insiders purchase shares in close proximity to one another, has historically correlated with periods of stock outperformance relative to purchases by a single insider acting alone. That research describes a statistical pattern observed across many companies and time periods; it does not speak to the outcome of any individual filing, including this one, and this article is not making any prediction about Cybin’s share price.
Form 4 filings like this one are disclosed to the SEC because insiders such as officers, directors, and large shareholders are required to report changes in their holdings within a short window after a transaction. The filings offer a window into what people with direct knowledge of a company’s operations are doing with their own money, though the reasons behind any individual purchase are not disclosed and can vary widely. Cybin has not issued a public statement explaining the timing or rationale behind this string of purchases.
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Source: original SEC Form 4 filing.