{"scope": "company", "symbol": "CMSA", "name": "CMS Energy Corporation 5.6% JRSUB NT 78", "intelligence": {"score": 47, "label": "Balanced insider tape", "tone": "neutral", "stance": "Wait for clearer clustering", "brief": "Acquisition and disposal evidence is mixed after low-information compensation and derivative activity is separated out.", "confidence": 86, "confidence_label": "Deep evidence", "filings": 27, "companies": 1, "insiders": 18, "signal_events": 9, "acquisition_events": 1, "disposal_events": 8, "acquisition_share": 11.1, "disposal_share": 88.9, "acquisition_value": 14491.0, "disposal_value": 3780365.98, "net_value": -3765874.98, "acquisition_value_label": "$14.5K", "disposal_value_label": "$3.8M", "net_value_label": "-$3.8M", "data_quality": 33, "priced_common_share": 33, "latest_date": "2026-07-31", "latest_signal_date": "2026-07-31", "oldest_date": "2026-03-26", "evidence_classes": [{"key": "common_equity", "label": "Common equity", "count": 27, "bar_width": 100.0}, {"key": "equity_award", "label": "Equity compensation", "count": 0, "bar_width": 0.0}, {"key": "derivative", "label": "Options and derivatives", "count": 0, "bar_width": 0.0}, {"key": "other", "label": "Other securities", "count": 0, "bar_width": 0.0}], "roles": [{"label": "Director", "count": 10, "bar_width": 100.0}, {"label": "Other executive", "count": 9, "bar_width": 90.0}, {"label": "Other or unspecified", "count": 6, "bar_width": 60.0}, {"label": "CEO and chair", "count": 2, "bar_width": 20.0}], "supports": ["Participation spans 18 named insiders rather than one filing source.", "The latest qualifying evidence is fresh, dated 31 Jul 2026."], "risks": ["Qualifying disposal events outnumber acquisitions, although disposals receive a lower directional weight."]}, "timeline": [{"start": "2026-05-25", "label": "25 May", "acquisitions": 0, "disposals": 1, "qualified_acquisitions": 0, "qualified_disposals": 1, "total": 1, "height": 100.0, "acquisition_height": 0.0, "disposal_height": 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"qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-08-10", "label": "10 Aug", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}], "market": {"latest_week": "2026-08-07", "latest_close": "20.724000", "currency": "USD", "one_week_change": "-0.8421052631578947368421052632", "thirteen_week_change": "-2.199150542708824917413874469", "four_week_change": "-2.199150542708824917413874469", "range_high": "21.911607", "range_low": "20.660000", "average_volume": 73515, "relative_strength": "-14.922931", "market_dynamics": "-1.169413", "fair_value": "21.042339", "fair_value_gap": "-1.512849878523485435720810315", "trend_signal": "0", "one_week_change_label": "-0.8%", "thirteen_week_change_label": "-2.2%", "four_week_change_label": "-2.2%", "fair_value_gap_label": "-1.5%"}, "transactions": [{"date": "2026-07-31", "insider": "MADDIPATI, SRIKANTH", "role": "EVP/CFO", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": "14491.0000", "value_label": "$14.5K"}, {"date": "2026-06-15", "insider": "MADDIPATI, SRIKANTH", "role": "EVP/CFO", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-26", "insider": "HOFMEISTER, BRANDON J.", "role": "Senior Vice President", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "222930.0000", "value_label": "$222.9K"}, {"date": "2026-05-08", "insider": "BUTLER, DEBORAH H", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "IZZO, RALPH", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "KEYES, RICHARD PATRICK", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "LEOPOLD, DIANE", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "RUSSELL, JOHN G", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "SHANK, SUZANNE F.", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "SOTO, MYRNA", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "SZNEWAJS, JOHN G", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "TANSKI, RONALD J", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-08", "insider": "WRIGHT, LAURA", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-03-26", "insider": "BERRY, TONYA L", "role": "Executive Vice President & COO", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-03-26", "insider": "HAYES, REJJI P", "role": "EVP/CFO", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-03-26", "insider": "HOFMEISTER, BRANDON J.", "role": "Senior Vice President", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-03-26", "insider": "JOHNSON, SHAUN M", "role": "Executive Vice President & CLO", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-03-26", "insider": "MCINTOSH, SCOTT B", "role": "VP, Controller, CAO", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-03-26", "insider": "ROCHOW, GARRICK J", "role": "Director, President and CEO", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-03-26", "insider": "SNYDER, LAUREN Y", "role": "Senior Vice President", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-03-26", "insider": "ROCHOW, GARRICK J", "role": "Director, President and CEO", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "1971832.8900", "value_label": "$2.0M"}, {"date": "2026-03-26", "insider": "HAYES, REJJI P", "role": "EVP/CFO", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "632775.7000", "value_label": "$632.8K"}, {"date": "2026-03-26", "insider": "JOHNSON, SHAUN M", "role": "Executive Vice President & CLO", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "329058.6300", "value_label": "$329.1K"}, {"date": "2026-03-26", "insider": "HOFMEISTER, BRANDON J.", "role": "Senior Vice President", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "286924.4700", "value_label": "$286.9K"}, {"date": "2026-03-26", "insider": "BERRY, TONYA L", "role": "Executive Vice President & COO", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "201663.8600", "value_label": "$201.7K"}, {"date": "2026-03-26", "insider": "MCINTOSH, SCOTT B", "role": "VP, Controller, CAO", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "91367.0100", "value_label": "$91.4K"}, {"date": "2026-03-26", "insider": "SNYDER, LAUREN Y", "role": "Senior Vice President", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "43813.4200", "value_label": "$43.8K"}], "method": "Directional scores use deduplicated, priced common-share evidence with asymmetric disposal weighting, role, freshness, and size controls."}