---
title: "Credo's biggest insider move was a $0 gift of 200,000 shares; the week's market sales were $7.7 million"
description: "Credo's COO moved 200,000 shares into a family trust at a price of $0, and the only stock the week's filings sent to market was $7.7 million of pre-planned sales."
publisher: "The Inference"
section: "Money"
published: 2026-10-10T13:15:38.287Z
modified: 2026-10-10T13:15:38.287Z
canonical: https://theinference.org/article/credo-s-biggest-insider-move-was-a-0-gift-of-200-000-shares-the-week-s-market-sales-were-7-7-million
language: en
keywords: "Insider Trading, Credo Technology, Semiconductors, Markets, SEC Filings"
---

# Credo's biggest insider move was a $0 gift of 200,000 shares; the week's market sales were $7.7 million

> Credo's COO moved 200,000 shares into a family trust at a price of $0, and the only stock the week's filings sent to market was $7.7 million of pre-planned sales.

## A $0 price on a $43 million move

On October 7, [Credo](https://theinference.org/markets/companies/credo) Technology's chief operating officer, Yat Tung Lam, moved 200,000 shares out of his direct holding, worth about $43 million at the October 9 close of $216.55 [1][2]. The price on [the Form 4](https://www.sec.gov/Archives/edgar/data/1807794/000162828026065523/0001628280-26-065523-index.htm) is zero. No buyer, no broker, no order: the transaction code is G, for gift [1].

## One transfer, filed on two lines

The filing records the move twice, as 200,000 shares disposed from direct holdings and as 200,000 acquired by Lam GRAT 2026 II, a [grantor retained annuity trust](https://en.wikipedia.org/wiki/Grantor_retained_annuity_trust) Lam co-trustees [1]. Read the lines as two gifts and the transfer doubles to 400,000 shares; the footnote says one gift of 200,000 [1]. A GRAT pays its creator a fixed annuity and hands the remainder to family, with the taxable gift engineered toward zero [3]. A first such trust already holds 100,000 shares, and family vehicles hold 550,000 more; Lam's combined position, about 2.8 million shares, is unchanged by the gift [1].

## The run that built the pile

Credo closed October 9 worth $40.7 billion, [up 50.5% this year and 1,201% over three years](https://finance.yahoo.com/quote/CRDO/), though still about 30% below its 52-week high of $308.67 [2]. Revenue last quarter was $479 million, up 115% year over year, against $44 million three years ago [4].

*Chart: **Quarterly revenue has grown almost elevenfold in three years** Line chart of Credo quarterly revenue from Q3 2023 to Q2 2026, rising from $44 million to $479 million.*

*Credo quarterly revenue, calendar quarters, in millions of US dollars, from its SEC filings. The latest point is fiscal Q1 2027, ended August 1, 2026. [4]*

## What actually reached the market: $7.7 million

The market-facing filings are smaller and pre-programmed. The family trust of chief technology officer Chi Fung Cheng [sold 27,500 shares for $6.09 million](https://www.sec.gov/Archives/edgar/data/1807794/000162828026065346/0001628280-26-065346-index.htm) at a $221.48 average on October 6, under a Rule 10b5-1 plan adopted in September 2025; the trust kept 5.63 million shares [5][6]. Chief financial officer Daniel Fleming's [Form 144 proposes 7,580 shares worth $1.61 million](https://www.stocktitan.net/sec-filings/CRDO/144-credo-technology-group-holding-ltd-sec-filing-036f85f40cc3.html) through [Goldman Sachs](https://theinference.org/markets/companies/goldman-sachs) under a January 12 plan, the same lot he sold in July for $1.86 million [7][9]. Two withholdings at $218.64 for RSU taxes, 2,460 shares from Cheng and 3,180 from Lam, are payroll, not judgment [5][8]. Market supply in the week's filings: about $7.7 million, against 187.95 million shares outstanding [7][2].

*Chart: **The week's biggest Credo insider move never reached the market** Bar chart of Credo insider transactions filed October 5 to 8, 2026: a 200,000-share gift to a family trust, a 27,500-share trust sale, a 7,580-share proposed sale and two RSU tax withholdings.*

*Shares per insider transaction in Credo filings, October 5 to 8, 2026. Tax-withholding lines are RSU settlements, not sales; Fleming's bar is a Form 144 notice, not a reported execution. [1][5][7][8]*

## The drip has run all year

This week is not the whole record. Lam [sold 100,000 shares for $20.6 million on September 25 and 50,000 more for $10.3 million on October 1](https://theinference.org/article/credo-s-coo-sold-20-6-million-of-stock-in-one-day-and-moved-175-000-shares-into-family-trusts) [9]. Cheng's trust has clipped 27,500-share lots since spring; its reported position is down from about 7.5 million shares in June 2025 to 5.77 million [9]. Chief executive [Bill Brennan](https://theinference.org/markets/people/bill-brennan) sold 16,672 shares on September 14 [9]. What the bears lack is fresh information: the trading plans predate [this week's 3.7% selloff across optics stocks](https://finance.yahoo.com/markets/stocks/articles/coherent-stock-fell-nearly-10-024807234.html), and the gift sold nothing [5][7][11].

*Chart: **Insider selling peaked in late September and thinned through the week's filings** Column chart of the dollar value of Credo insider sales by transaction date, from $1.9 million in July to a peak of $20.6 million on September 25, then $10.3 million on October 1, $6.1 million on October 6 and a proposed $1.6 million.*

*Dollar value of Credo insider sales by transaction date, in millions: Daniel Fleming's July sale of the same lot, Yat Tung Lam's September 25 and October 1 sales, the Cheng family trust's October 6 sale, and Fleming's Form 144 proposal. The proposal is a notice of intent, not an executed sale. [5][7][9]*

## Brennan speaks Monday

Credo will show its 1.6T ZeroFlap cables, optics and Weaver memory fanout at [the OCP Global Summit in San Jose](https://finance.yahoo.com/technology/ai/articles/credo-showcase-broad-portfolio-connectivity-130000299.html), October 12 to 15; Brennan's session, "Wider. Slower. Better: Optics That Can Beat Copper," runs at 3:20 p.m. on the 12th [10]. The filings do not say Credo's officers are getting out of the stock. They say they are getting organized.

## Takeaway

This week's Credo filings show estate planning and preset trading plans, not an exit: only $7.7 million of stock was priced for market, all of it pre-programmed.

## Sources

1. [SEC EDGAR, Form 4: Credo Technology Group Holding Ltd, Lam Yat Tung (COO), gift of 200,000 shares to Lam GRAT 2026 II, filed 9 October 2026](https://www.sec.gov/Archives/edgar/data/1807794/000162828026065523/0001628280-26-065523-index.htm)
2. [Yahoo Finance, Credo Technology Group Holding Ltd (CRDO) quote, statistics and performance, close of 9 October 2026](https://finance.yahoo.com/quote/CRDO/)
3. [Wikipedia, Grantor retained annuity trust, accessed 10 October 2026](https://en.wikipedia.org/wiki/Grantor_retained_annuity_trust)
4. [Credo Technology Group Holding Ltd, quarterly figures from its SEC filings, retrieved 10 October 2026](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001807794)
5. [SEC EDGAR, Form 4: Credo Technology Group Holding Ltd, Cheng Chi Fung (CTO), sale of 27,500 shares by the Cheng Huang Family Trust, filed 7 October 2026](https://www.sec.gov/Archives/edgar/data/1807794/000162828026065346/0001628280-26-065346-index.htm)
6. [StockTitan, Credo Technology CTO family trust sells 27,500 shares (Form 4 summary), 7 October 2026](https://www.stocktitan.net/sec-filings/CRDO/form-4-credo-technology-group-holding-ltd-insider-trading-activity-d461c397537a.html)
7. [StockTitan, Credo Technology officer proposes $1.61M share sale (Form 144, Daniel Fleming), 8 October 2026](https://www.stocktitan.net/sec-filings/CRDO/144-credo-technology-group-holding-ltd-sec-filing-036f85f40cc3.html)
8. [SEC EDGAR, Form 4: Credo Technology Group Holding Ltd, Lam Yat Tung (COO), RSU tax withholding of 3,180 shares, filed 7 October 2026](https://www.sec.gov/Archives/edgar/data/1807794/000162828026065347/0001628280-26-065347-index.htm)
9. [OpenInsider, CRDO Credo Technology Group Holding Ltd SEC Form 4 insider trading screener, accessed 10 October 2026](http://openinsider.com/CRDO)
10. [Business Wire via Yahoo Finance, Credo to Showcase Broad Portfolio of Connectivity Solutions for AI Scale-Out and Scale-Up Fabrics at 2026 OCP Global Summit, 9 October 2026](https://finance.yahoo.com/technology/ai/articles/credo-showcase-broad-portfolio-connectivity-130000299.html)
11. [TIKR via Yahoo Finance, Coherent Stock Fell Nearly 10% in a Day as Rising Yields Hit Optics Stocks, 8 October 2026](https://finance.yahoo.com/markets/stocks/articles/coherent-stock-fell-nearly-10-024807234.html)


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Credo's biggest insider move was a $0 gift of 200,000 shares; the week's market sales were $7.7 million — The Inference. Canonical: https://theinference.org/article/credo-s-biggest-insider-move-was-a-0-gift-of-200-000-shares-the-week-s-market-sales-were-7-7-million