Form 4 Transaction Codes

Buy Codes: P, A, M

Code P (open-market purchase) is the code included in the purchase screen — it means the insider used their own money. Code A (award/grant) and code M (option exercise) are compensation events and are excluded from the purchase screen.

Sell Codes: S, F, D, G

Code S is an open-market sale. Form 4 does not record a reason for the sale. Code F (tax withholding) and code D (disposition to issuer) are mechanical. Code G (gift) has no directional signal.

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