What is an insider's open-market purchase?
An open-market purchase is when an insider buys shares of their own company on the stock market, with their own money, at the market price.
Last reviewed October 5, 2026
What counts
It is code P on a Form 4. The insider chose to spend cash, on a day of their own choosing, at whatever price the market offered.
What does not count
- Stock awards and grants that the company gives
- Shares received by exercising options
- Shares bought through a company savings or stock-purchase plan
- Shares kept back to pay taxes
Why it gets attention
Insiders sell for many reasons that have nothing to do with the company: taxes, a house, diversifying. They buy with their own money for far fewer. That makes a purchase rarer and more of a choice.
What it does not tell you
A purchase is a person's decision on a given day. It does not say where the stock will go. OQRO measures what happened after each purchase against the S&P 500, and publishes it, including the many that finished behind the market.
See it on OQRO
Sources
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This explains a public filing in plain words. It is not legal or investment advice.
