HAPN · Financials · Bank · FY2025 filings ·
Scored by the financial-sector model
Form 4 reports mix P/S market or private transactions with compensation-plan mechanics. Activity casually described as “insider selling” can include compensation mechanics; awards, tax withholding, and option exercises are shown by their exact filed class here, never collapsed into “Bought” or “Sold.”
These are disclosed filing facts and arithmetic aggregates, not a signal or verdict.
This machine-readable surface covers SEC ownership filings from 2003; it does not represent earlier paper-era records.
Records still being gathered — partial as of retrieval Sep 18, 2026.
Among the rows shown, A/F/M acquisition, payment or withholding, and exercise or conversion rows outnumber S sale rows (33 versus 10). The filing codes alone do not establish that every such row arose from a compensation plan.
Trailing-12-month totals and the 90-day cluster result are withheld because this issuer walk is incomplete.
| Insider | Shares owned after | Date | Filing detail | ||||
|---|---|---|---|---|---|---|---|
| Selleck ErinDirector | Open-market or private sale (S)Table I · Disposed · Common Stock | 7,148 | $16.68 | $119,229 | 75,380 | Sep 15, 2026 | 1 filed lot
|
| Selleck ErinDirector | Open-market or private sale (S)Table I · Disposed · Common Stock | 2,057 | $17.41 | $35,812 | 82,528 | Sep 4, 2026 | 1 filed lot
|
| Cheng JordanGeneral Counsel & Secretary | Open-market or private sale (S)Table I · Disposed · Common Stock | 2,800 | $17.56 | $49,168 | 106,413 | Sep 3, 2026 | 1 filed lot
|
| Sanborn ScottDirector, CEO | Open-market or private sale (S)Table I · Disposed · Common Stock | 28,750 | $18.2508 | $524,711 | 1,462,774 | Aug 26, 2026 | 1 filed lot
|
| Stack FergalSVP, Corporate Controller | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 3 paired events | 6,593 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 3 filed lots
|
| Stack FergalSVP, Corporate Controller | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 2,682 | $18.25 | $48,947 | 43,888 | Aug 25, 2026 | 1 filed lot
|
| Stack FergalSVP, Corporate Controller | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit (RSU) · 3 paired events | 6,593 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 3 filed lots
|
| Sanborn ScottDirector, CEO | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 3 paired events | 27,817 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 3 filed lots
|
| Sanborn ScottDirector, CEO | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 14,856 | $18.25 | $271,122 | 1,491,524 | Aug 25, 2026 | 1 filed lot
|
| Sanborn ScottDirector, CEO | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit (RSU) · 3 paired events | 27,817 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 3 filed lots
|
| Mattics Steven CBank - Chief Lending Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 2 paired events | 27,213 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 2 filed lots
|
| Mattics Steven CBank - Chief Lending Officer | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 13,697 | $18.25 | $249,970 | 65,255 | Aug 25, 2026 | 1 filed lot
|
| Mattics Steven CBank - Chief Lending Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit (RSU) · 2 paired events | 27,213 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 2 filed lots
|
| LaBenne AndrewChief Financial Officer | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 3 paired events | 25,962 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 3 filed lots
|
| LaBenne AndrewChief Financial Officer | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 13,371 | $18.25 | $244,021 | 233,617 | Aug 25, 2026 | 1 filed lot
|
| LaBenne AndrewChief Financial Officer | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit (RSU) · 3 paired events | 25,962 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 3 filed lots
|
| Cheng JordanGeneral Counsel & Secretary | Exercise or conversion of derivative security (M)Table I · Acquired · Common Stock · 3 paired events | 12,116 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 3 filed lots
|
| Cheng JordanGeneral Counsel & Secretary | Payment of exercise price or tax liability (F)Table I · Disposed · Common Stock | 5,477 | $18.25 | $99,955 | 109,213 | Aug 25, 2026 | 1 filed lot
|
| Cheng JordanGeneral Counsel & Secretary | Exercise or conversion of derivative security (M)Table II · Disposed · Restricted Stock Unit (RSU) · 3 paired events | 12,116 | —Exercise or conversion of derivative security (M) | — | See lot detail | Aug 25, 2026 | 3 filed lots
|
| Stack FergalSVP, Corporate Controller | Open-market or private sale (S)Table I · Disposed · Common Stock | 37,500 | $18.1069 | $679,009 | 39,977 | Aug 20, 2026 | 1 filed lot
|
| Stack FergalSVP, Corporate Controller | Open-market or private sale (S)Table I · Disposed · Common Stock | 37,500 | $18.6415 | $699,056 | 77,477 | Aug 19, 2026 | 1 filed lot
|
| Stack FergalSVP, Corporate Controller | Open-market or private sale (S)Table I · Disposed · Common Stock | 40,000 | $18.8633 | $754,532 | 114,977 | Aug 18, 2026 | 1 filed lot
|
| LaBenne AndrewChief Financial Officer | Open-market or private sale (S)Table I · Disposed · Common Stock | 13,929 | $19.3713 | $269,823 | 221,026 | Aug 10, 2026 | 1 filed lot
|
| Sanborn ScottDirector, CEO | Open-market or private sale (S)Table I · Disposed · Common Stock | 28,750 | $20.5632 | $591,192 | 1,478,563 | Aug 5, 2026 | 1 filed lot
|
| Selleck ErinDirector | Open-market or private sale (S)Table I · Disposed · Common Stock | 2,391 | $17.40 | $41,603 | 81,157 | Jun 5, 2026 | 1 filed lot
|
Source-event as of . Retrieved .
Flagship explainer
Happen, Inc.'s filing does not supply enough comparable lines for a truthful flow chart — here's what is filed:
| Filed line | Value | % of net interest income | Source |
|---|---|---|---|
| Income before tax | $177M | Unavailable |
|
| Income tax | $41.3M | Unavailable |
|
| $136M | Unavailable |
|
Flagship explainer
Happen, Inc.'s filing tags don't support a full breakdown — here's what is filed:
| Filed line | Value | % of assets | Source |
|---|---|---|---|
| Total assets | $11.6B | 100% |
|
| Cash and equivalents | $930M | 8% |
|
| Property, plant and equipment | $254M | 2% |
|
| Goodwill | $75.7M | 1% |
|
| Deferred tax assets | $96.2M | 1% |
|
| Operating lease right-of-use assets | $12.9M | 0% |
|
| Total liabilities | $10.1B | 87% |
|
| $0 | 0% |
| |
| Stockholders’ equity | $1.5B | 13% |
|
Flagship explainer
One or more filed inputs needed for the five-factor decomposition are unavailable.
| Input | Value | Fiscal year | Source |
|---|---|---|---|
| Net income | $136M | FY2025 |
|
| Income before tax | $177M | FY2025 |
|
| Operating income | Unavailable | FY2025 |
|
| Revenue | Unavailable | FY2025 |
|
| Ending assets | $11.6B | FY2025 |
|
| Beginning assets | $10.6B | FY2024 |
|
| Ending equity | $1.5B | FY2025 |
|
| Beginning equity | $1.3B | FY2024 |
|
Flagship explainer
Happen, Inc.’s filing does not supply enough provenance-matched cash-flow lines for a truthful flow chart — here’s what is filed:
| Filed line | Value | % of cash from operations | Source |
|---|---|---|---|
| Cash from operations | −$2.7B | −100% |
|
| Depreciation and amortization | $3.2M | 0% |
|
| Share-based compensation | $34.3M | 1% |
|
| Cash from investing | $1.9B | 71% |
|
| Cash from financing | $748M | 27% |
|
| Net change in cash | −$47M | −2% |
|
Curated 19-manager tier
Delayed public 13F reports for 2026-Q2—not live positions, trades, or recommendations.
0 holding0 exited0 not holding0/19 resolved19 not retrieved
| Manager | Reported position | Quarter-over-quarter | Filing accession |
|---|---|---|---|
| Abrams Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Akre Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Baupost Group | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Berkshire Hathaway | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Brave Warrior Advisors | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Dodge & Cox | Not retrieved | Comparison not retrieved | Filing not retrieved |
| First Eagle | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Fundsmith | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Gardner Russo & Quinn | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Gates Foundation Trust | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Mairs & Power | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Markel / Markel-Gayner | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Oakmark / Harris Associates | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Pershing Square | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Polen Capital | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Sequoia / Ruane Cunniff | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Southeastern Asset Management | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Tweedy, Browne | Not retrieved | Comparison not retrieved | Filing not retrieved |
| Yacktman Asset Management | Not retrieved | Comparison not retrieved | Filing not retrieved |
Position size uses shares and filed value from each manager’s 13F. Portfolio weight uses the eligible long-share filing denominator. Changes compare only with the immediately preceding calendar quarter.
Flagship explainer
Records still being gathered — partial as of retrieval Sep 18, 2026.
Partial coverage: the incomplete Form 4 walk cannot establish no activity, an activity date, or zero counts.
Median ROE 2.4% on average equity, above the 10% hurdle in 11% of 9 years.
Q3 scored 2 evidenced ratios equally; reserve score is unadjusted for Q4 and capped at 70.
Profitable in 50% of 10 years, ROE volatile.
Net interest income is 2.88% of average assets, variable over 7 years through FY2023.
Not scored for this company
Scored 4 of 5 applicable components (bank model); weights renormalized over the scored set.
The 15-year revenue, margin, and ROIC series is built for the operating model’s lens and isn’t published for banks and insurers — a balance-sheet business is read through the components above, not through operating-company margins.
| Reading | ||
|---|---|---|
| Aug 3, 2026 | 22 | |
| Jul 26, 2026 | 22 | |
| Jul 26, 2026 | 22 | |
Append-only — readings are added, never rewritten. Only readings on the same methodology version (moat-index-financials@1.0.0) are comparable; a change across versions is a scoring change, not a company event.