Insiders6 min read
Direct vs indirect ownership on Form 4: whose money is actually in the trade?
How Form 4 distinguishes personal holdings from trusts, family vehicles, and entities - and why that distinction is one of the six Greediness factors.
Insider filing analysis
Articles
Analysis of Form 4 clusters, STOCK Act disclosures, and Schedule 13D stakes - written as permanent, indexable research pages, not fleeting social posts.
Latest analysis
Insiders5 min readREFI
Chicago Atlantic REFI: executive chairman buys ~$429k
Chicago Atlantic Real Estate Finance (REFI) Executive Chairman John Mazarakis reported buying about 40,181 shares at $10.67 (~$429,000) on August 26, 2026, scored 86. Here is the structural reading, including what a Form 4 does not say about a pending merger.
Insiders6 min read
Why insider buys carry more information than insider sales
Insiders sell for taxes, diversification, 10b5-1 calendars, and liquidity. They usually buy with cash for one reason. Here is why the Form 4 tape is asymmetric, and how Greedy Insider uses that without pretending sales are worthless.
Insiders5 min readBMRA
Biomerica: CEO and vice chairman buy the same $1.60 print
Biomerica (BMRA) CEO Zackary S. Irani reported buying 31,250 shares at $1.60 ($50,000) on August 26, 2026. Executive Vice Chairman Allen Barbieri reported 20,000 shares at the same price. Both scored 82. Here is how to read a small-cap dual buy.
Insiders6 min read
Form 3 and Form 5, explained: the Section 16 filings around a Form 4
Form 3 is the starting holdings report when someone becomes an insider. Form 5 is the annual catch-up for certain small or exempt transactions. Here is how they fit next to Form 4, what they establish, and what they do not.
Insiders5 min readJEF
Jefferies CEO buys ~$4.0m: a same-day CEO and CFO Form 4
Jefferies Financial Group CEO Richard B. Handler reported buying about 75,531 shares at $53.09 (~$4.01 million) on August 28, 2026. The same day, CFO Matthew S. Larson bought 746 shares at the same price. Here is the structural reading.
Insiders7 min read
What is a 10b5-1 trading plan? How prearranged insider trades work
A 10b5-1 plan lets an insider schedule trades in advance and claim an affirmative defense against insider trading claims. Here is how the plans work, what the Form 4 checkbox tells you, and why a planned sale reads differently from a cash open-market buy.
Insiders6 min readLEGO
Legato Merger Corp IV: CEO, CFO, and COO filings with $0 prices
Legato Merger Corp. IV (LEGO) showed a same-day CEO/CFO/COO "buy" cluster with reported prices of $0.00 and Strong-band scores up to 84. This case study shows why zero-price SPAC Form 4s need a different reading than open-market cash buys.
Insiders5 min readSHEN
Shenandoah Telecommunications: six directors buy the same day
On August 3, 2026, six different Shenandoah Telecommunications (SHEN) directors filed buys at $11.99. Scores ranged from 68 to 76. Here is how to read a broad director cluster without overstating conviction.
Insiders5 min readFRME
First Merchants CEO buys ~$916k: reading a 95 Greediness Form 4
First Merchants CEO Mark K. Hardwick reported buying about 21,000 shares near $43.63 (~$916k) on August 3, 2026. The filing scored 95 on the Greediness Score. Here is the structural reading - and the limits.
Activist7 min read
Schedule 13D vs 13G: activist vs passive ownership, explained
Schedule 13D and Schedule 13G both disclose large beneficial ownership, but 13D is the activist-oriented form. Here is how they differ, what to read first on a fresh 13D, and how Greedy Insider scores activist filings.
Congress6 min read
Congressional trades explained: what the STOCK Act actually tells you
Under the STOCK Act, members of Congress must report securities transactions - often days or weeks after the trade. Here is what those disclosures establish, why lag matters, and how Greedy Insider scores them.
Insiders6 min read
What does a cluster buy mean, and when does it matter?
A cluster buy is when three or more different insiders of the same company buy its stock within a short window. Here is what that structure can mean, when it is mechanical noise, and how Greedy Insider scores it.
InsidersFeatured7 min read
What is a Form 4? How to read SEC insider transaction filings
A Form 4 is the SEC filing a company insider must submit within two business days of trading their company stock. Here is how to read who filed, which transaction codes carry information, and what a Form 4 does not tell you.
Insiders4 min readNVDA
NVIDIA cluster buy: three directors add after the pullback
Three NVIDIA directors filed open-market purchases within the same week after a multi-session drawdown. We unpack the Form 4 codes, stake impact, and how the Greediness Score weights the cluster.
Congress3 min read
STOCK Act disclosure lag: when Congress trades hit the public record late
Congressional stock trades can surface weeks after execution. This case study maps a typical disclosure timeline under the STOCK Act and explains why lag is a first-class scoring input.
Activist4 min read
Reading a fresh Schedule 13D: stake size, urgency, and accumulation
Schedule 13D filings mark a beneficial owner crossing 5%. This note walks through stake size, purpose clauses, and accumulation velocity - the inputs behind the 13D Greediness Score.
Insider trading basics
New to SEC filings? Start with the plain-language Learn primers, then the deeper Articles explainers (Form 4 first), then the analysis above.
- What is a SEC Form 4?A Form 4 is the document a company insider (officer, director, or 10%+ owner) must file with the SEC within 2 business days of buying or selling their company’s stock.
- What is a cluster buy?A cluster buy is when three or more different insiders of the same company buy its stock within a short window (7 days on this site).
- The Greediness Score: explainable insider trading scoresThe Greediness Score is a transparent 0-100 rating of how much structural conviction a public filing shows - who traded, how unusually large the trade was for that person, how fast it was disclosed, and who traded alongside them.
- How the Signals patterns are detectedSignals are four recurring filing patterns that Greedy Insider detects with fixed, written rules: cluster buys, long congressional disclosure lag, new or amended Schedule 13D filings, and a first open-market buy after a long silence.
Ready for the deeper cut? What is a Form 4? How to read SEC insider transaction filings
Topic clusters
Crawlable entry points into related research. Each tag page lists every published article in that cluster.