# What does code P mean on a Form 4?

Canonical: https://sec-api.dev/questions/what-does-code-p-mean-on-form-4

> Code P means an open-market or private purchase: the insider bought the securities. In Q3 2026, 5,184 non-derivative transactions carried code P, 8.7% of the total.

Grants (A), tax withholding (F) and option exercises (M) are far more common and are not purchases with the insider’s own money.

API: GET https://sec-api.dev/api/v1/insider-transactions?period=2026q3&transactionCode=P&limit=10

- [Code P with examples](https://sec-api.dev/form-4-transaction-codes/p)
- [Insider purchases by company](https://sec-api.dev/insider-trading)

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