Insider
A person or entity whose relationship with a company obliges them to report their transactions in its securities.
Updated 2026-07-26
In the reporting sense an insider is defined by role, not by knowledge: officers, directors and holders above a defined ownership threshold. Someone can be an insider for reporting purposes and know nothing that the public does not.
The word carries a second, unrelated meaning in ordinary speech, where it suggests improper use of confidential information. Insider filings on this site refer only to the first meaning. A reported transaction is a disclosed transaction, and disclosure is the opposite of secrecy.
Insider status begins and ends on specific dates. Transactions before appointment or after departure may not appear at all, which is why a person's history can start or stop abruptly.
Related terms
5 entries- Beneficial ownership
- The count of securities a person can vote or dispose of, which is not the same as the number registered in their name.
- Form 3
- The first filing an insider makes, declaring what they already hold when they become an insider.
- Form 4
- The filing in which a company insider reports a change in their holdings, normally within two business days.
- Section 16
- The part of U.S. securities law that requires officers, directors and large holders to report their dealings in the company's shares.
- Transaction code
- The one or two letter code on each row of a Form 4 that says what kind of change occurred.