Glossary · Securities
What is an SEC Form 4?
An SEC Form 4 is a filing that corporate insiders — officers, directors, and beneficial owners of more than 10% of a company's stock — must submit to disclose changes in their ownership, generally within two business days of the transaction.
Form 4 filings report insider purchases and sales of an issuer's securities. Because they are timely and public, they are a closely watched signal set. A 'cluster buy' — several insiders buying the same issuer in a short window — is treated as a conviction signal.
Insider-transaction data is used by asset managers, credit analysts and event-driven investors as a documented, dated ownership tell.
Source: US Securities and Exchange Commission (EDGAR).
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Who must file an SEC Form 4?
Corporate insiders — officers, directors, and holders of more than 10% of a company's equity — must file Form 4 to report changes in their ownership, generally within two business days.
What is an insider cluster buy?
A cluster buy is when multiple insiders of the same company purchase its stock within a short window — often read as a conviction signal because several insiders acted together.
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