Purchase and sale classification
A qualifying purchase is a P transaction with an acquired direction. A qualifying sale is an S transaction with a disposed direction. These codes include open-market and private transactions. Awards (A), exercises (M), and withholding (F) are kept separate; the complete history still displays them.
Code P does not establish that the buyer acted independently, paid entirely with personal cash, or bought on an exchange. A disclosed 10b5-1 flag is labeled as disclosed. An absent flag is labeled Not disclosed, not “no plan.” Verify the original filing and footnotes.
Two dates, two different questions
The main screener's date filter uses filing dates. It answers what has recently been reported. The activity chart, role totals, and cluster score use transaction dates. They answer when the underlying trades occurred. The displayed reference date uses America/New_York in database mode. Demo mode is fixed to September 11, 2026 for reproducibility.
A 30-day window includes the reference calendar day and its previous 29 days. Future-dated trades and records filed after the reference date are excluded. “12 months” is a trailing 365-calendar-day window. The latest-filing screen names the latest day actually loaded; it does not relabel an older filing as today's activity.
The 0–100 cluster score
| Component | Maximum | Calculation |
|---|---|---|
| Buyer breadth | 45 | 15 points per distinct buyer, capped at three buyers. |
| Recency | 20 | 20 points if the latest purchase is in the last 7 calendar days; 15 in the last 14; 10 in the last 30. |
| Relative size | 25 | 30-day priced purchases / loaded market cap: ≥0.50% gives 25; ≥0.25% gives 20; ≥0.10% gives 15; ≥0.05% gives 10; a smaller positive ratio gives 5. |
| Seniority | 10 | CEO: 10; otherwise officer: 7; otherwise director: 5. The highest qualifying level applies. |
Buyer identity uses a reporting-owner CIK when present, otherwise a normalized name. Officer-title text is included in seniority matching. A single buyer can have a nonzero score, but at least two distinct buyers are required for the dedicated cluster screen.
A missing market cap gives zero size points. An unpriced trade can count toward buyer breadth but does not add a dollar value. Related reporting owners, joint filings, or amendments can still affect interpretation. The current store is not a complete beneficial-ownership graph or an amendment-reconciliation engine.
Money, market snapshots, and unavailable values
Reported transaction value is used when available and valid; otherwise a valid price multiplied by shares supplies a derived value. Unknown-priced lines do not silently become priced purchases. Totals describe known values only. Tables display unavailable numeric fields as N/A rather than pretending they are zero.
Market prices, capitalization, and drawdowns are separate snapshots with provider and date labels. Purchase / market cap uses that loaded snapshot, not necessarily the historical cap on the trade date. Price since purchase is a price comparison, not a dividend- or benchmark-adjusted return. A provider label alone is not an assurance of quality or freshness.
Historical outcomes and data coverage
90-day and one-year return values are provider-supplied inputs. The interface shows them only after the relevant 90- or 365-day horizon has elapsed, and it suppresses all demo outcomes. Corporate-action adjustments, trading-day conventions, and benchmark choices remain the market-data provider's responsibility.
“No recorded sales” and “a recorded three-year purchase gap” refer only to loaded history. They are not proofs of absence. A complete backfill, ingestion monitoring, and amendment reconciliation are necessary before drawing comprehensive historical conclusions. Review data coverage before interpreting a screen.
Sources and estimates are kept separate
Filing facts are linked to original SEC archive URLs when available. Synthetic records never get a fake SEC filing link. Compensation and net-worth proxies are optional, separately labeled inputs. They are not facts extracted from the trade itself, and the demo proxies are illustrative.
Reference: SEC Investor.gov guide to Forms 3, 4, and 5, and SEC guide to insider trading arrangements and disclosures.
The score is a sorting aid. It is not a probability of profit, a statement of material nonpublic information, or an investment recommendation.