Insider Trading Statistics

Source. SEC Form 4 filings by officers, directors and owners of more than 10% of a company's stock, as collected in Signal8's dataset from September 3, 2024. The first year reported is the first full calendar year that dataset covers (2025). Figures describe that dataset.

What counts. Purchases are transactions reported with code P (an open-market or private purchase) in whole shares; fractional lots, which typically come from dividend reinvestment or employee share plans, are left out. Sales are transactions reported with code S. Option exercises, grants and awards, shares withheld for tax, gifts and every other transaction code are excluded, as are all derivative securities. A Form 4 filed by a company as its own reporting owner is excluded.

One trade. All the lines one insider reported for one company, one transaction type and one date count as one trade, because a Form 4 often splits a single day's buying into several lines by price. A line reported twice, for example in an original filing and an amendment, is counted once.

Year. The year of the transaction date. The current year is year to date, and its figures, including the late-filing share, can still change as filings arrive.

Size. Shares multiplied by the reported price, summed over a trade's lines. A trade with any line reported without a price is left out of the median. Totals are not reported, because a few filings with a share count or price entered in the wrong units would dominate any sum.

Filed after the deadline. A Form 4 is due before the end of the second business day after the transaction. A trade counts as filed after the deadline when the filing's date, in US Eastern time, is more than 2 business days after the transaction date. Weekends, federal holidays and stock market holidays are all treated as non-business days, so the deadline used is never earlier than the real one. The SEC allows some transactions to be reported later, and an amended filing can add a line after the original, so a late filing is a fact about timing only.

Roles. Taken from the relationship the insider stated on the filing. One person can be an officer, a director and a 10% owner at once, so the role shares can add up to more than 100%.

Cluster buys. A company has a cluster buy when at least 3 different insiders bought its stock within 14 days. Purchases made by several insiders on one date at exactly one price, the pattern of an employee share plan or a placement, are not counted toward a cluster. A company is counted once per year however many clusters it had.

Not included. Stock price performance after insider trades is not reported. These figures describe what insiders reported, not what happened to the stock afterwards.