Form 4

Transaction codes

Each transaction listed on the Form 4 filing has a transaction code:

General transaction codes

• P – Open market or private purchase of securities
• S – Open market or private sale of securities
• V – Transaction voluntarily reported earlier than required

Rule 16b-3 transaction codes

• A – Grant, award, or other acquisition
• D – Sale (or disposition) back to the issuer of the securities
• F – Payment of exercise price or tax liability by delivering or withholding securities
• I – Discretionary transaction, which is an order to the broker to execute the transaction at the best possible price
• M – Exercise or conversion of derivative security

Derivative securities codes

• C – Conversion of derivative security (usually options)
• E – Expiration of short derivative position (usually options)
• H – Expiration (or cancellation) of long derivative position with value received (usually options)
• O – Exercise of out-of-the-money derivative securities (usually options)
• X – Exercise of in-the-money or at-the-money derivatives securities (usually options)

Other sections 16b exempt transactions and small acquisition codes

• G – Bona fide gift form of any clauses
• L – Small acquisition
• W – Acquisition or disposition by will or laws of descent and distribution
• Z – Deposit into or withdrawal from voting trust

Other transaction codes

• J – Other acquisition or disposition (transaction described in footnotes)
• K – Transaction in equity swap or similar instrument
• U – Disposition due to a tender of shares in a change of control transaction

Resources

• Official SEC website
• Latest Form 4 filings in SEC Edgar database

References

References

1. (26 April 2023). "Insider trading". Scientific Data.
2. (3 May 2024). "Layline insider trading dataset". Harvard Dataverse.
3. "Layline Dataverse".