Greedy Insider
Form 4 Code P (Purchase) Explained
Form 4 transaction Code P means an open-market or private purchase. In a sample of 4,000 recent filings through Oct 24, 2026, code P appears in 756 transactions (8.0% of the total).
What Form 4 code P means
Code P marks an open-market or private purchase of the issuer's securities. It is the clearest signal of an insider putting their own money in, which is why open-market buys carry the most weight in the Greediness Score.
How common code P is
Across 4,000 of the most recent Form 4 filings in our database, 756 transactions were coded P, or 8.0% of all coded transactions in that sample. Comparing a code's frequency is a quick way to tell routine mechanics (awards, tax withholding) from deliberate open-market activity.
Where it fits in the score
The Greediness Score only ranks open-market buys and sales; compensation codes like awards and option exercises are reported for completeness but are not scored as conviction. The score describes the filing, not future returns. This is not investment advice.
Key facts
- Code P transactions in sample: 756
- Share of coded transactions: 8.0%
- Filings scanned: 4,000
Primary sources
Related
- All Form 4 transaction codes
- What is a SEC Form 4?
- How the Greediness Score works
- Insider buying in the live feed
The score describes the filing, not future returns. This is not investment advice.