Insider trading (SEC Form 4)

Corporate insiders — officers, directors, and large shareholders — must disclose their trades in the company’s own stock on SEC Form 4.

In the disclosure sense used on stocks-llm, "insider trading" means the legal, reported buying and selling of a company’s stock by its own officers, directors, and holders of more than 10% of its shares. US securities law requires these people to file a Form 4 with the SEC, usually within two business days of a transaction. This is distinct from illegal insider trading (trading on material non-public information).

These filings are watched because insiders know their business intimately. But a single trade rarely means much: sales can be for diversification, taxes, or pre-scheduled 10b5-1 plans, and awards or option exercises are not the same as open-market conviction buying. stocks-llm separates open-market purchases and sales from other transaction types.

Every figure links back to the original SEC Form 4 filing and is shown with its filing date. Insider activity is informational only — "insiders are buying" is never, by itself, a reason to buy.

Example: AAPL insider trades →

See more terms in the stocks-llm glossary.

Informational only — NOT financial advice. This is an educational definition, not a recommendation to buy or sell anything. Metrics on stocks-llm are delayed data and may be missing or stale. Always verify information independently and consult a qualified financial professional before making any investment decision.