Listed

Form 4

The filing an insider makes within two business days of buying, selling or otherwise changing their holdings of the company's securities.

Updated Oct 17, 2026

Share

Share this page

Story card, 1080 × 1920
Contents, 2 sections
  1. What it shows
  2. On Listed

Form 4, "Statement of Changes in Beneficial Ownership", is filed by a company's insiders (its directors, its officers and anyone owning more than 10% of a class of its registered shares) when their holdings change. It is due within two business days of the transaction.

What it shows

  • Table I: shares and other non-derivative securities, with the date, the transaction code, the amount, whether it was acquired (A) or disposed of (D), the price, the holding after the transaction, and whether it is held directly or indirectly (through a trust or family member, for example).
  • Table II: derivative securities such as options and restricted stock units, with exercise prices and dates.
  • Footnotes, which often explain the most: a weighted average price across many trades, the trust that holds the shares, or the trading plan the sale was made under.
  • A checkbox showing whether the transaction was made under a Rule 10b5-1 plan.

On Listed

Company pages list the latest open-market purchases and sales (codes P and S), each marked "Purchase" or "Sale" in words. The price is labelled "reported price": it is the price the insider reported on the form, not a market price. Each insider has their own page across companies. See insider trades: what Form 4 tells you.

All terms

Related terms

  • InsiderA company's directors, its officers and owners of more than 10% of a class of its shares, who must report their trades.
  • Transaction codeThe letter on each Form 4 line that says what kind of transaction it was: P for an open-market purchase, S for a sale, and more.
  • Form 3An insider's first statement of what they own in the company, filed within 10 days of becoming an insider.
  • Form 5An insider's annual statement of changes in ownership that were exempt from Form 4 or should have been reported earlier.
  • Rule 10b5-1 planA trading plan an insider sets up in advance, so later trades follow the plan rather than a decision made at the time.

Guides that use it

  • Insider trades: what Form 4 tells youHow to read a Form 4 line by line, which transaction codes are decisions and which are paperwork, and what an insider's trade can and cannot tell you.