Form 4 (Insider Trading Report (Form 4))
The filing that discloses when company insiders buy or sell their own stock.
What it means
A Form 4 is filed with the SEC when a company insider, such as an executive or director, buys or sells shares of their own company. It must be filed within two business days of the trade. Investors watch these closely because insiders know their business better than anyone, so their buying and selling can be a meaningful signal.
Example
If a CEO buys $1 million of their own stock and files a Form 4, many investors read it as a vote of confidence.
How to read it
Insider buying is generally a stronger signal than selling, since insiders sell for many reasons (taxes, diversification) but usually buy for only one: they expect the stock to rise. Look for clusters of buying by several insiders, which is far more meaningful than a single trade.
See it on real stocks
Every stock analysis page shows Form 4 alongside the other key metrics: