CEO of U.S. Railroad Equipment Company Sells 60,000 Shares for 20 Billion Won, Still Holds 400 Billion

On April 14, Rafael Santana, CEO of Westinghouse Air Brake Technologies Corp (Wabtec), sold approximately 60,852 shares of the company’s common stock in open-market transactions at about $267–$270 per share, raising roughly $16.4 million (around ₩230 billion). Following the sale, his direct holdings declined from about 189,000 shares to roughly 128,000 shares, still valued at approximately $32.9 million (around ₩460 billion).

In its first-quarter 2026 results released on April 22, Wabtec reported revenue of $2.95 billion (about ₩4.1 trillion), up 13.0% year over year, and adjusted diluted earnings per share of $2.71, an 18.9% increase. Growth in the freight and transit divisions, together with contributions from the recently acquired inspection, sensing, and coupler businesses, lifted the multi-year order backlog to $30.8 billion (around ₩43 trillion). The company accordingly raised its 2026 adjusted EPS guidance to $10.25–$10.65.

According to international reports, Wabtec’s first-quarter profitability exceeded market expectations, prompting an upward revision of its full-year outlook. CEO Santana’s stock sale was carried out under a pre-established Rule 10b5-1 trading plan. Wabtec, formed in 1999 through the merger of Westinghouse Air Brake Company and MotivePower, is a U.S. rail and transportation equipment manufacturer supplying freight and passenger locomotives as well as essential rail brake and signaling systems.