Part of the Insider Trading Tracker guide.
Legato Merger Corp IV: CEO, CFO, and COO filings with $0 prices
Four Legato (LEGO) officers - including the CEO, CFO, and COO - reported buys on August 3, 2026 with $0.00 prices. High Greediness scores do not override SPAC economics: always read price and footnotes first.
What happened
On August 3, 2026, Legato Merger Corp. IV (LEGO) - a SPAC - showed Form 4 buy rows for CEO Gregory R. Monahan, CFO Adam H. Jaffe (direct and indirect), COO Shahrez Nadeem, and Chief SPAC Officer Eric Rosenfeld. Filings are dated August 4. Export Greediness scores ran from the mid-70s into the mid-80s.
Every one of those rows carries a reported price of $0.00. That single field changes the research conclusion even when titles say CEO, CFO, and COO and even when the cluster detector lights up.
Why it matters
A same-day C-suite cluster is usually one of the highest-signal patterns on the Form 4 tape - when the purchases are open-market cash buys. SPACs routinely issue founder shares, promote economics, and other zero- or nominal-price transfers that still appear as "acquisitions" on Form 4.
If you sort only by Greediness or by "CEO buy," LEGO looks like a Strong conviction cluster. If you sort by economics, it looks like sponsor/officer share mechanics until proven otherwise. Greedy Insider's editorial rule: price $0 and SPAC issuer type force a footnote-first reading before any conviction language.
Key signals
- Titles: CEO, CFO, COO, and Chief SPAC Officer - maximum seniority weight.
- Timing: all trade dates August 3, 2026 - cluster window satisfied.
- Price: $0.00 on each export row - incompatible with a standard cash open-market narrative.
- Issuer type: Legato Merger Corp. IV is a blank-check company - Form 4 patterns often reflect SPAC structure, not secondary-market buying.
Compare with the First Merchants CEO case study in this series: similar seniority, opposite economics ($43.63 open-market print versus $0.00). The score is a starting filter; the Form 4 is the evidence.
How to read it on EDGAR
Open each filing and check transaction code, security title (Class A, rights, units), footnotes on founder shares or earnouts, and whether the "price" field is blank, zero, or a weighted average of mixed lots. Code A/M/J-style mechanics and sponsor transfers are common in this issuer class.
Until those footnotes show cash open-market purchases, do not describe LEGO as a C-suite cash cluster. Describe it as a coordinated C-suite Form 4 event that failed the open-market economics test.
Final takeaway
LEGO is the cautionary twin of a high-Greediness CEO buy: the cluster and titles are real, the cash-conviction story is not - not on a $0.00 price. Use the score to notice the filings, then let price, issuer type, and footnotes decide whether the pattern belongs in a research queue or a discard pile.
Sources
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Educational analysis only. Nothing on this page is investment advice. The Greediness Score describes filing structure and does not predict returns.