Form 4 code · Rule 16b-3

Code M: exercise or conversion of derivative security exempted under rule 16b-3.

Exercise or conversion of a derivative security, such as an employee stock option, that is exempt under Rule 16b-3. Usually paired with a derivative-table row for the option and often followed by an S or F row on the same filing.

Quarter: Q3 2026
Non-derivative rows: 7,433
Derivative rows: 8,048
Share of non-derivative: 12.4%

Recent code M transactions

Latest-dated code M rows in Q3 2026. Shares and prices are as filed.
Date	Issuer	Insider	Shares	Price	Filing
2026-09-30	VerifyMe, Inc.	Cola Jennifer L.	2,400	$0	4
2026-09-30	VerifyMe, Inc.	Stedham Adam H	55,000	$0	4
2026-09-30	VerifyMe, Inc.	Greenberg Scott N	3,500	$0	4
2026-09-30	VerifyMe, Inc.	Edmonds David Bruce	3,500	$0	4
2026-09-30	VerifyMe, Inc.	Wang Jack	7,500	$0	4
2026-09-30	VerifyMe, Inc.	Volk Fred III	7,500	$0	4

Query code M transactions

Request with your API key

curl "https://sec-api.dev/api/v1/insider-transactions?period=2026q3&transactionCode=M&limit=10" \
  -H "Authorization: Bearer $SEC_API_KEY"

Insider trading API · Insider trading by company

Questions

What does transaction code M mean on Form 4?

How common is code M?

In Q3 2026, code M appeared on 7,433 non-derivative and 8,048 derivative transaction rows in the SEC insider transactions data set (12.4% of non-derivative rows).

Other codes

P: Open market or S: Open market or V: Voluntarily reported earlier A: Grant, award or D: Disposition to the F: Payment of exercise I: Discretionary transaction C: Conversion of derivative E: Expiration of short H: Expiration or cancellation O: Exercise of out-of-the-money X: Exercise of in-the-money G: Bona fide gift L: Small acquisition under W: Acquisition or disposition Z: Deposit into or J: Other acquisition or K: Transaction in equity U: Disposition pursuant to

Meaning: Form 4 General Instructions, Instruction 8. Counts and examples: SEC insider transactions data sets, Q3 2026.

Plain-text version for agents and LLMs: /form-4-transaction-codes/m.md

Independent. Not affiliated with, endorsed by, or sponsored by the U.S. Securities and Exchange Commission. Data is reproduced from public SEC filings and datasets. Not investment advice.