What is insider buying?
An insider (a director, senior officer or owner of more than 10% of a company) buying the company's shares in the open market with their own money. US law makes them report it to the SEC on Form 4.
Where does this data come from?
From the Form 4 filings that insiders file with the US Securities and Exchange Commission (SEC). We read every filing for US-listed companies and show the open-market buys and sales.
How fast are insider trades reported?
Insiders must file Form 4 within two business days of the trade. We check for new filings every couple of hours on US business days and read the full daily list each evening.
Is insider buying a buy signal?
It is one clue, not a signal on its own. Studies have found that open-market buys, especially by several insiders at once (cluster buying), have on average been followed by better-than-market returns, but many individual buys still lose money. Information only, not investment advice.
Why do insiders sell shares?
For many reasons that have nothing to do with the company's prospects: paying taxes on vested shares, buying a house, spreading their wealth, or a trading plan set up months in advance (Rule 10b5-1). A single sale says little; heavy selling by many insiders says more.
Why are grants and option exercises not in these lists?
They are part of pay, not a decision to put money into the shares. These lists show only open-market purchases (code P) and sales (code S); a company's own page shows every transaction.