Insider trading — in the legal sense — refers to the purchase or sale of a company’s securities by corporate insiders: executives, directors, and shareholders owning more than 10% of the company. All such transactions must be disclosed to the SEC within 2 business days via Form 4. Open-market purchases (transaction code P) are the most meaningful signal: the insider is spending personal capital in the market, not exercising options or receiving grants. This page tracks only open-market purchases above $100,000 — the moves most likely to reflect genuine conviction about a company’s future.

We apply three filters to the raw SEC Form 4 feed: (1) transaction code must be “P” — open-market purchase only, excluding options exercises, grants, and gifts; (2) the acquired/disposed code must be “A” for acquired; (3) total trade value must exceed $50,000 and share count must exceed 100.

Each trade is then scored 0–100 based on three factors:

Size (up to 40pts): $250K = 12pts · $500K = 20pts · $1M = 28pts · $5M = 35pts · $10M+ = 40pts
Role (up to 35pts): CEO = 35pts · CFO = 28pts · President/COO = 25pts · Director = 18pts · 10%+ Owner = 15pts · Other = 8pts
Cluster bonus (up to 25pts): 2 insiders buying same stock = +15pts · 3+ insiders = +25pts

Signal tiers: 🔴 T1 Strong (score ≥ 75) · 🟢 T2 Significant (score 50–74) · 🟡 T3 Notable (score 30–49) · 🔵 T4 Watch (score < 30)

The feed refreshes 3 times per day — at 9am, 1pm, and 5pm Eastern Time — pulling directly from the SEC EDGAR Form 4 RSS feed and parsing each filing’s XML. SEC rules require Form 4 filings within 2 business days of the transaction, so most trades appear on this page within 1-3 days of the actual purchase.

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