Disclosure lag
Why alerts fire when a disclosure is published, not when the trade or event happened.
Every alert is based on a public disclosure. We can only send it once that disclosure is published. The trade or event behind it often happened earlier, sometimes much earlier.
How long disclosures take
| Alert type | Rule for filing | What that means for you |
|---|---|---|
| Insider | Form 4 within two business days of the trade | Usually a few days old. Some insiders file late. |
| Stake | Deadlines depend on the type of investor | Days to weeks after the shares were bought |
| 8-K | Generally within four business days of the event | Often the same day, sometimes a few days later |
| IPO | Filed when the company files to go public, or when the price is set | Close to real time |
| Earnings | When the company publishes its results | Close to real time |
| Congress | Generally within 45 days of the trade | Often weeks old |
| Macro | On the official release schedule | Real time, but our alert can come up to about 6 hours after release |
Both dates are shown
Where it matters, the alert shows both dates:
- Insider: "Disclosed Jun 18, 2026 · traded Jun 16". When the trade is more than five business days older than the filing, the gap is shown too.
- Congress: "Disclosed Jun 2 · traded May 15 (~3 weeks earlier)".
- Macro: the reference period (the month or quarter the figure covers) and the date it was released.
The browse pages show both dates too, for example Traded and Filed on the Insider page.
Late filings
Some disclosures are filed long after the deadline. They still send an alert when they're published, with the dates showing how old the trade is. Check the trade date before you act on an alert.
Still stuck? Email [email protected].