# How quickly must a Form 4 be filed, and how often is it late?

Canonical: https://sec-api.dev/questions/how-fast-must-form-4-be-filed

> Form 4 is due before the end of the second business day after the transaction. In Q3 2026 SEC data, 8.9% of 28,469 Form 4 filings with transactions were filed more than two business days after the latest transaction date; the median gap was 2 business days.

Our measure counts weekdays and does not remove federal holidays, so a few on-time filings near holidays count as late. Some transactions qualify for deferred reporting on Form 5 and are legitimately later.

- [Form 4 transaction codes](https://sec-api.dev/form-4-transaction-codes)
- [Form 4 explained](https://sec-api.dev/sec-forms/form-4)

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