About this page
WallStPal explains public SEC filings and congressional stock trade reports in plain English. Nothing is for sale; the site is free and supported by ads.
How to read it
- Form 4
- The form a company insider (officer, director or owner of more than 10%) must file with the SEC within two business days of buying or selling the company's shares.
- 13F
- A quarterly list of U.S. stocks held by an investment manager with more than $100 million, filed within 45 days after each quarter ends.
- STOCK Act
- A 2012 law that requires members of Congress to report stock trades by themselves, a spouse or a dependent child within 45 days.
A real example
In January 2016, when bank stocks were falling, JPMorgan Chase CEO Jamie Dimon bought 500,000 JPMorgan shares with his own money, worth about $26 million. His Form 4 made the purchase public within days, and investors read it as a strong sign of confidence.
Explain it like I'm 13
We read the long, boring forms that grown-ups file with the government and tell you what they say in normal words.
Data from public SEC filings and congressional reports. Information, not investment advice. Check every number against the filing linked on the page.
Filing Quality Grades
Insiders must report a trade within two business days. Some companies' insiders always do; others are often late or file numbers that need fixing. This grade shows which is which.
Lowest grades
| Company | Grade | Trades | Filed late |
|---|---|---|---|
| CNTM ConnectM Technology Solutions, Inc. | F | 15 | 14 (93%) |
| OKYO OKYO Pharma Ltd | F | 7 | 7 (100%) |
| ALZN Alzamend Neuro, Inc. | F | 5 | 5 (100%) |
| YI 111, Inc. | F | 21 | 16 (76%) |
| EWSB EWSB Bancorp, Inc. /MD/ | F | 11 | 11 (100%) |
| OCC OPTICAL CABLE CORP | F | 9 | 7 (78%) |
| ALP Alpha Compute Corp | F | 13 | 8 (62%) |
| RNGC Ranger Gold Corp. | F | 50 | 50 (100%) |
| NMHI Nature's Miracle Holding Inc. | F | 18 | 18 (100%) |
| LUCY Innovative Eyewear Inc | F | 12 | 12 (100%) |
| IOR INCOME OPPORTUNITY REALTY INVESTORS INC /TX/ | F | 11 | 11 (100%) |
| SEV Aptera Motors Corp | F | 10 | 10 (100%) |
| CVSI CV Sciences, Inc. | F | 10 | 10 (100%) |
| FJET Starfighters Space, Inc. | F | 10 | 10 (100%) |
| SSL SASOL LTD | F | 9 | 9 (100%) |
| RHEP REGIONAL HEALTH PROPERTIES, INC | F | 9 | 9 (100%) |
| MERC MERCER INTERNATIONAL INC. | F | 9 | 9 (100%) |
| BUDZ WEED, INC. | F | 7 | 7 (100%) |
| BNR Burning Rock Biotech Ltd | F | 7 | 7 (100%) |
| HMMR HAMMER TECHNOLOGY HOLDINGS CORP. | F | 7 | 7 (100%) |
| DGNX Diginex Ltd | F | 6 | 6 (100%) |
| HEPA Hepion Pharmaceuticals, Inc. | F | 6 | 6 (100%) |
| OIG Orion180 Insurance Group Inc. | F | 5 | 5 (100%) |
| GIFT GIFTIFY, INC. | F | 5 | 5 (100%) |
| TURB Turbo Energy, S.A. | F | 5 | 5 (100%) |
| IRIX IRIDEX CORP | F | 95 | 90 (95%) |
| COE 51Talk Online Education Group | F | 56 | 51 (91%) |
| GGAL GRUPO FINANCIERO GALICIA SA | F | 11 | 10 (91%) |
| XOS Xos, Inc. | F | 27 | 18 (67%) |
| PETV PetVivo Holdings, Inc. | F | 9 | 8 (89%) |
| CRESY CRESUD INC | F | 13 | 6 (46%) |
| EMMA Emmaus Life Sciences, Inc. | F | 6 | 5 (83%) |
| DRCT Direct Digital Holdings, Inc. | F | 10 | 8 (80%) |
| TXTM ProText Mobility, Inc. | F | 5 | 4 (80%) |
| UONEK URBAN ONE, INC. | F | 5 | 4 (80%) |
| AIJTY Jianpu Technology Inc. | F | 5 | 4 (80%) |
| TIGO MILLICOM INTERNATIONAL CELLULAR SA | F | 5 | 4 (80%) |
| CLH CLEAN HARBORS INC | F | 5 | 3 (60%) |
| HELP Helus Pharma Inc. | F | 9 | 7 (78%) |
| ARBE Arbe Robotics Ltd. | F | 7 | 5 (71%) |
| SHMD SCHMID Group N.V. | F | 7 | 5 (71%) |
| VPLM Voip-pal.com Inc | F | 24 | 17 (71%) |
| VALE Vale S.A. | F | 8 | 6 (75%) |
| AMT AMERICAN TOWER CORP /MA/ | F | 19 | 14 (74%) |
| CV CapsoVision, Inc | F | 6 | 4 (67%) |
| DYAI DYADIC INTERNATIONAL INC | F | 10 | 7 (70%) |
| INSW International Seaways, Inc. | D | 21 | 14 (67%) |
| OPTU Optimum Communications, Inc. | D | 12 | 8 (67%) |
| SYK STRYKER CORP | D | 9 | 6 (67%) |
| GIC GLOBAL INDUSTRIAL Co | D | 14 | 9 (64%) |
Clean records
The companies with the most insider trades, all reported on time, with no price errors and no amendments.
How the grade works
Every company starts at 100 points. It loses up to 60 points for the share of its insider trades reported after the two-business-day deadline, 8 points for each filed price that looks mistyped (up to 24), and up to 20 points for the share of filings that had to be amended. 90 or more is an A, 80 a B, 70 a C, 60 a D, and below that an F. Only companies with at least five insider trades in our records are graded.
A low grade is not proof of wrongdoing. Filings can be late for innocent reasons, such as a gift reported late or an assistant's error. It is a measure of care, not of honesty.
Examples
The two-business-day deadline comes from the Sarbanes-Oxley Act of 2002. Before that, insiders could wait until the tenth day of the next month, so a trade could stay hidden for up to about six weeks. The SEC has fined people for repeated late Form 4s; in September 2023 it announced charges against more than two dozen insiders and companies for failing to report on time.
Explain it like I'm 13
Imagine your class has to hand in a note to the teacher within two days whenever someone trades lunch cards. Some kids always do it on time and neatly. Others hand it in a week late with the numbers crossed out. This page gives each company a report-card grade for how well its people hand in those notes.