Insider trades

Company insiders must tell the SEC when they buy or sell their own company's stock. Insiders are officers (such as the CEO or CFO), directors, and anyone who owns more than 10% of the company. They report each trade on a form called Form 4, due within two business days of the trade.

Market Rodeo reads every new Form 4 from the SEC and turns it into an alert.

When you get an alert

We check the SEC for new Form 4 filings every few minutes, so an alert usually arrives within minutes of the filing appearing on the SEC website.

The alert fires when the filing is published, not when the trade happened. Most filings arrive within two business days of the trade, but some are filed later. The alert shows both dates, so you can always see the gap.

One filing, one alert per kind of trade

A single Form 4 often lists several trades, for example six purchases at slightly different prices. We combine trades of the same kind into one alert, with:

• the total number of shares,
• the average price,
• the total dollar amount.

Buys and sales in the same filing arrive as separate alerts. Trades in different classes of shares are also kept apart.

What the alert shows

• Title: "Insider buy" or "Insider sale". Bigger trades get a size word in front:

  Size word	Total amount
  Notable	$250K to $1M
  Large	$1M to $5M
  Major	$5M and up

• Who: the insider's name and role, for example "Jane Doe (CEO)".

• For a buy: how much their holding grew, for example "raised their stake +12%", or "opened a new position" when they held no shares before.

• Symbol, Bought or Sold (shares and average price, for example "89.2K @ $20.20") and Amount (the total dollar value).

• Dates: "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.

• A link to the filing on the SEC website.

Buys, sales and other transactions

When you set up an insider alert rule, Transaction type decides which trades you hear about:

• Buy: the insider bought shares on the open market or in a private purchase.
• Sell: the insider sold shares on the open market or in a private sale.
• Any: every trade in the shares, including shares granted by the company, stock option exercises, shares withheld to pay taxes, and gifts.

What isn't covered

• Options and other derivatives. We cover trades in the shares themselves, not in options or similar contracts.
• Amended filings. A corrected Form 4 (Form 4/A) doesn't send a new alert.
• Other insider forms. Form 3 (a new insider's first holdings report) and Form 5 (the annual catch-up report) are not covered.

Browsing insider trades

The Insider page lists recent insider trades with both the Traded and the Filed date, and lets you filter by buy or sell, minimum value, role and title.