Insider trading is the buying or selling of a public company's stock by someone who has non-public information about that company. The phrase covers two very different activities: a legal, well-regulated channel of disclosure, and an illegal act that carries criminal penalties.
Legal insider transactions
Every officer, director, and 10% beneficial owner of a U.S. public company is required to file a Form 4 with the SEC within two business days of any transaction in the company's stock. This is the legal channel. The transaction itself — buying, selling, exercising options, receiving a grant — is almost always legal. The disclosure is what makes the system work.
Illegal insider trading
Illegal insider trading happens when someone trades while in possession of material, non-public information — and is not authorized to trade on it. The SEC pursues these cases as civil violations or criminal prosecutions. Penalties include disgorgement of profits, civil fines, and prison sentences.
What this product does
The Insiders Post mirrors the SEC's Form 4 filings. Every row you see is a transaction that the issuer's officers, directors, or 10% owners reported. We do not aggregate, predict, or sell recommendations. We describe filing characteristics and let you judge for yourself.
Nothing on this site is investment advice. Filing-derived signals describe the filing; they do not predict the stock.
Where to start
If you are new to insider filings, read about transaction codes next. If you are evaluating a single insider, the insider profile page walks through one reporting owner's complete history.