What is an SEC Form 4?

Form 4 is the "Statement of Changes in Beneficial Ownership" that officers, directors, and 10%+ shareholders of US-listed companies must file with the Securities and Exchange Commission within two business days of a transaction in the company's securities. It is filed electronically on SEC EDGAR and is the primary US source for insider trading activity.

Each Form 4 shows the transaction date, a code for the type of trade (P for an open-market purchase and S for a sale are the most watched), the number of shares, the price, and the insider's resulting total holding.

For investors, the two-business-day deadline makes Form 4 data timelier than Canada's five-day SEDI window. Focus on open-market purchases (code P) by senior executives, and on clusters of buying across multiple insiders. Strikepoint News's insider tool aggregates Form 4 (US) and SEDI (Canada) filings so cross-listed miners can be tracked on one screen.