Form 144 is a notice of proposed sale, while Form 4 reports changes in beneficial ownership. That distinction matters: a Form 144 filing can indicate an intention to sell restricted or control securities, but it is not itself the executed sale row.
A completed insider sale normally appears on Form 4 with a transaction code such as S. Form 144 can be useful context, but it should not be counted as the same thing as an executed Form 4 sale.
- Form 144: proposed sale notice under Rule 144 context.
- Form 4: reported ownership change after a qualifying transaction.
- Use Form 144 to understand planned-sale context, not completed trade volume.
- Keep Form 144 pages separate from Form 4 transaction feeds.