# 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.

Form 4, "Statement of Changes in Beneficial Ownership", is filed by a company's [insiders](/glossary/insider) (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](/glossary/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](/glossary/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](/guides/insider-trades-what-form-4-tells-you).

## Related terms

- [Insider](/glossary/insider.md)
- [Transaction code](/glossary/transaction-code.md)
- [Form 3](/glossary/form-3.md)
- [Form 5](/glossary/form-5.md)
- [Rule 10b5-1 plan](/glossary/rule-10b5-1-plan.md)

## Guides that use it

- [Insider trades: what Form 4 tells you](/guides/insider-trades-what-form-4-tells-you.md)

All terms: [/glossary.md](/glossary.md)