Biggest insider sales

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.

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.

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.

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.

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.

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.