# Form 4 transaction codes

Canonical: https://sec-api.dev/form-4-transaction-codes

> Every Form 4 transaction code with counts from the latest quarter of SEC insider data.

Quarter: Q3 2026. Form 4 filings more than two business days after the transaction: 8.9% of 28,469 (median 2 business days).

| Code | Meaning | Non-derivative rows | Derivative rows |
| --- | --- | --- | --- |
| P | Open market or private purchase | 5184 | 225 |
| S | Open market or private sale | 25441 | 409 |
| V | Voluntarily reported earlier than required | 0 | 0 |
| A | Grant, award or other acquisition from the company | 9817 | 7483 |
| D | Disposition to the issuer | 1382 | 1352 |
| F | Payment of exercise price or tax by delivering securities | 6802 | 32 |
| I | Discretionary transaction | 23 | 10 |
| M | Exercise or conversion of derivative security exempted under Rule 16b-3 | 7433 | 8048 |
| C | Conversion of derivative security | 903 | 854 |
| E | Expiration of short derivative position | 0 | 47 |
| H | Expiration or cancellation of long derivative position with value received | 0 | 1 |
| O | Exercise of out-of-the-money derivative security | 1 | 0 |
| X | Exercise of in-the-money or at-the-money derivative security | 56 | 88 |
| G | Bona fide gift | 1035 | 87 |
| L | Small acquisition under Rule 16a-6 | 65 | 0 |
| W | Acquisition or disposition by will or the laws of descent and distribution | 14 | 1 |
| Z | Deposit into or withdrawal from voting trust | 8 | 3 |
| J | Other acquisition or disposition | 1679 | 561 |
| K | Transaction in equity swap or similar instrument | 0 | 0 |
| U | Disposition pursuant to a tender of shares in a change of control | 38 | 0 |

Source: https://www.sec.gov/data-research/sec-markets-data/insider-transactions-data-sets

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