Exercise of derivative | Glossary

Definition

Code X marks the exercise of a derivative security other than an option. We classify it as medium signal.

Practical filing context for this specific glossary entry

X is the filing's primary shorthand for this event. It tells you the transaction category before you interpret price, shares, or role.

Many Form 4 codes describe compensation, withholding, exercises, gifts, or issuer transactions rather than open-market buying or selling.

Footnotes often explain vesting, plan language, indirect ownership, or why the reported code was used.