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How to read an SEC Form 4 (insider transactions)

Form 4 is the SEC filing corporate insiders (officers, directors, 10%+ owners) must file within two business days of trading their company's stock.

The fields that matter

• Transaction code: P = open-market purchase, S = open-market sale, A = grant/award, M = option exercise, G = gift.
• Shares & price: size and execution price of the trade.
• Ownership after: shares held following the transaction.

Signal vs noise

Open-market purchases (code P) with real cash are generally the most watched signal — insiders buy for one reason but sell for many (diversification, taxes, scheduled 10b5-1 plans). Clusters of buys by multiple insiders are stronger than a single trade.

How Aegwah packages Form 4

• Open-market buys & sells parsed per ticker (Basic).
• Pro adds clusters (3+ buys in 7 days), conviction scores, and ownership summaries.