Insider trading plans in the Associate, from adoption to sale
Announcement · By dibsresearch · · Updated
Rule 10b5-1 plans of directors and officers at S&P 500 companies, linked to the Form 144 notices and Form 4 sales that followed, each with its filing.
On 22 October we added the trading plans of directors and officers to the Associate. Ask about the Rule 10b5-1 plans at a company in the S&P 500, and it shows when each plan was adopted, how long it runs and how many shares it covers. It then lists the Form 144 notices and Form 4 sales that followed, each with its filing.
Since 2023, companies must say in each 10-Q and 10-K whether a director or officer adopted or ended such a plan during the quarter, with the date, the duration and the number of shares. The trades show up elsewhere: a Form 144 notice of a proposed sale, and a Form 4 after the sale, often marked as made under a plan. The pieces sit in different filings, filed by the company and by the insider at different times.
Take an officer whose company reports in its 10-Q that she adopted a plan during the quarter. The Associate shows that plan with the day it was adopted, the day it ends and the number of shares it covers. It then lists the Form 144 notices she filed before selling, which repeat the plan’s adoption date, and each Form 4 sale that followed, with the footnote that ties it to the plan. Every one of those filings opens from the answer.
At launch the data held 3,411 plans at 301 companies in the S&P 500, from 10-Qs and 10-Ks filed since 2023. Each plan carries the name and title the company gives in its filing.
The Associate doesn’t say why a plan was adopted, whether a sale was well timed or what it means for the stock. It reports what the filings say and gives no advice.
Only directors and officers have to be named, so plans of large shareholders or other employees aren’t in it. A plan adopted before the rule took effect shows up only if the company later reports that it ended. For many companies our Form 4 history is complete only for recent months, so sales under older plans can be missing. The data holds the filings up to 22 October; we don’t add newer ones each day yet.
The same plans are available to your own assistant through dibsresearch MCP. Ask the Associate about a company you follow, or about one person’s plan by name.