Rail Equipment CEO Retains Significant Stake After Selling Millions in Shares

Westinghouse Air Brake Technologies Corp (WAB) announced on April 14 that CEO Rafael Santana sold 60,852 shares of common stock on the open market, generating approximately $16.4 million (₩220 billion). Even after reducing his holdings from about 189,000 shares to 128,729 shares, Santana still directly owns roughly $32.9 million (₩440 billion) worth of WAB stock.

In its Q1 2026 results released April 22, Wabtec reported revenue of $2.95 billion (≈₩4 trillion) and adjusted diluted EPS of $2.71, marking double-digit year-over-year growth. Supported by an expanded backlog of $30.8 billion (≈₩41 trillion), the company raised its full-year 2026 adjusted EPS guidance to $10.25–10.65 and reaffirmed revenue guidance of $12.1–12.5 billion (mid-₩16 trillion range).

Year-to-date, Santana has sold several thousand shares in January and March as well. Filings from March 9–10 show he sold about 2,300 shares for roughly $570,000 while maintaining a stake of 189,581 shares. In the Q4 2025 earnings released on February 11, Wabtec beat market expectations and provided its initial 2026 full-year adjusted EPS guidance of $10.05–10.45; following the strong Q1 performance, the company then lifted this range to $10.25–10.65.

Formed in 1999 by the merger of Westinghouse Air Brake Company and MotivePower Industries, Wabtec is a U.S. manufacturer of rail and industrial braking and signaling equipment. After acquiring GE Transportation in 2019, it expanded into locomotives and digital rail solutions. Headquartered in Pittsburgh, Pennsylvania, Rafael Santana joined from GE’s family of businesses and has led Wabtec since 2019, driving its M&A strategy and technology investments.