What do 12 months of Form 4 filings show about insider buying and selling?

How were the filings counted?

The figures come from OQRO's own database of SEC Form 4 filings, computed on 9 November 2026. A line is one transaction line of a Form 4, the way the form reports it, so one filing can hold several lines. We kept lines filed from 1 November 2025 to 31 October 2026 with a transaction code of P (a purchase on the market or in a private deal) or S (a sale on the market or in a private deal), in ordinary shares rather than options or other derivatives. We left out amendments, lines still held for review and lines with no value. We also left out lines whose transaction date was impossible (a few filings carry typing errors such as a year in the 2030s), by keeping transaction dates from September 2025 to October 2026. Values are shares times the price reported on the form. The SEC investor bulletin on Forms 3, 4 and 5 and the Form 4 itself define the codes, and the SEC's insider transactions data sets are the public way to rebuild a count like this.

OQRO's insider buying statistics page counts by year since 2006 with its own, wider rules, so its figures will not match this page line for line.

How many purchases and sales were there?

There were 5.5 sale lines for each purchase line, and the sales were worth about 13 times as much. Sales are not the mirror image of purchases: a sale line can have any reason, and OQRO's count here does not separate sales made under a Rule 10b5-1 plan, which are set up in advance.

How big are the purchases?

Most purchases are small. More than half of the purchase lines were under $50,000, and one in ten was $1 million or more.

The largest single purchase line was $219.0 million, and six of the eight largest were reported by companies or other entities rather than by individuals. That is why value and count tell different stories in the next section.

Who makes the purchases?

Each line is placed in one group: officer if the filer is an officer (even if also a director), director if a director who is not an officer, ten-percent holder if the only role is owning more than 10% of a class of shares, and other for the rest.

Ten-percent holders account for 24% of the lines but 59% of the value, from only 161 people and entities. A person can appear in two groups, so the people column adds up to more than the 2,820 in the first table. A purchase by a large shareholder is a different thing from a purchase by an executive, so OQRO's insider pages show the role beside every line.

How does it change from month to month?

The table groups lines by the month the Form 4 was filed.

The number of lines ranged from 377 in January 2026 to 1,109 in September 2026, so one month says little about the next. The three biggest months by value, August to October 2026, hold a few very large lines. This page does not test why filings bunch in some months.

How quickly are purchases filed?

An insider must file a Form 4 within two business days of the transaction, according to the SEC investor bulletin. Counting calendar days from the transaction date to the filing date:

Calendar days include weekends, so a filing on day 4 can still be on time. About 84% of the lines were filed within four calendar days. The remaining lines, including the 3.5% filed after more than a month, are worth reading in the filing, where a footnote may explain the delay.

How often do several insiders buy the same company?

Among the 1,175 companies where at least one officer or director made a purchase in the 12 months, 598 (51%) had two or more different buyers, 371 (32%) had three or more, and 127 (11%) had five or more. The most for one company was 23. These are counts over the whole year, not over a short window, so they are not the same as the clusters shown on OQRO's cluster buys page, which looks for buyers close together in time.

What this does not tell you

These are counts of filed transactions, not a measure of what insiders think. A purchase line is a person's reported action; the Form 4 does not give the reason, and a sale often has nothing to do with the company's outlook. Nothing here says whether prices rose or fell afterwards, and OQRO does not suggest that any count predicts a price. Code P also covers private purchases, so a large line is not always a trade on a stock exchange. Values depend on the price typed on the form, and a typing error in a price or share count can change a line, which is why OQRO keeps lines it has not verified out of this page. The groups follow the boxes the filer ticked, and a person who holds several roles appears in the group with the highest priority. Finally, the window is one year, filed between 1 November 2025 and 31 October 2026, so a different year gives different figures. To check any line, open the Form 4 itself on EDGAR, or search EDGAR yourself.