Key Points

• The spouse of Webull Chief Financial Officer Wang Haichen reported selling 55,000 shares on Monday.

• This happened only after receiving 827,046 restricted stock units.

• The sale is small relative to total stock holdings.

• 10 stocks we like better than Webull ›

Webull Corporation (NASDAQ: BULL) stock tumbled 6.5% through 10:35 a.m. ET Wednesday after Chief Financial Officer Wang Haichen filed a Form 4 with the SEC disclosing a sizable sale of the online broker's stock.

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Look who's selling at Webull

According to the filing, the CFO's spouse sold 55,000 shares of Webull on Monday at an average price of $8.98 per share, resulting in total proceeds of just under $494,000. This sale may be unsettling investors today, and explains why the stock is down. Still, it shouldn't have come as a complete surprise.

According to a report on StreetInsider.com, Webull filed notice that a "member of immediate family of any of the foregoing" -- which is to say, the CFO, would be filing notice of this sale.

Should Webull investors worry?

Also worth pointing out is that while the CFO's spouse is selling 55,000 Webull shares, the Form 4 filing indicates that she still owns 772,046 shares. Furthermore, given that she acquired 827,046 restricted stock units on Nov. 19, 2025, it's possible that the sale this week was made in anticipation of tax liability on those shares.

Put it all together -- the likely reason for the sale and the sizable Webull stake that is not being sold, and the mere fact of the sale doesn't seem a huge cause for concern to me. I am a bit concerned about the stock's valuation, which is currently a steep 110 times trailing earnings.

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Rich Smith has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.