Vertex Pharmaceuticals insider activity
What the executives and directors of Vertex Pharmaceuticals actually did with their own shares, decoded from their SEC Form 4 filings. Each figure says the stretch of time it covers.
−$158M
net open-market flow, 12 m
0 open-market buys, 12 m
100%
of sale value on 10b5-1 plans, 12 m
411 days since an insider bought, whole record
The tape: three years of insider trades
Open-market buy
Discretionary sale
Planned sale (10b5-1)
Reported-price path
Routine
Every marker sits at the price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the grey strip is the routine flow (grants, vestings, tax withholding and gifts) that a headline gets wrong by counting it as selling.
The 149 routine events on the chart, as a list
| Date | Insider | Shares |
|---|---|---|
| Sep 8, 2026 | van Grunsven Jasper | 8,682 |
| Aug 28, 2026 | Ambrose Kristen | 5,000 |
| Aug 27, 2026 | SACHS BRUCE I | 6,000 |
| Jul 21, 2026 | Sachdev Amit | 8,251 |
| Jul 21, 2026 | Tatsis Ourania | 8,251 |
| May 1, 2026 | Garber Alan M | 472 |
| May 1, 2026 | Bhatia Sangeeta N. | 943 |
| May 1, 2026 | MCKENZIE DIANA | 943 |
| May 1, 2026 | Schneider Jennifer | 472 |
| May 1, 2026 | Thornberry Nancy | 472 |
| Feb 24, 2026 | WAGNER CHARLES F JR | 1,744 |
| Feb 24, 2026 | LEIDEN JEFFREY M | 3,547 |
| Feb 24, 2026 | Sachdev Amit | 1,518 |
| Feb 24, 2026 | Kewalramani Reshma | 4,981 |
| Feb 24, 2026 | Biller Jonathan | 1,144 |
| Feb 24, 2026 | Tatsis Ourania | 1,627 |
| Feb 24, 2026 | Bozic Carmen | 1,453 |
| Feb 24, 2026 | Ambrose Kristen | 546 |
| Feb 24, 2026 | Atkinson Edward Morrow III | 1,627 |
| Feb 24, 2026 | McKechnie Duncan | 873 |
| Feb 24, 2026 | Bunnage Mark E. | 582 |
| Feb 19, 2026 | Sachdev Amit | 56K |
| Feb 18, 2026 | LEIDEN JEFFREY M | 11K |
| Feb 17, 2026 | WAGNER CHARLES F JR | 9,659 |
| Feb 17, 2026 | Kewalramani Reshma | 23K |
| Feb 17, 2026 | Biller Jonathan | 5,640 |
| Feb 17, 2026 | Tatsis Ourania | 8,083 |
| Feb 17, 2026 | Bozic Carmen | 7,287 |
| Feb 17, 2026 | Ambrose Kristen | 2,407 |
| Feb 17, 2026 | Atkinson Edward Morrow III | 6,492 |
| Feb 17, 2026 | McKechnie Duncan | 6,110 |
| Feb 17, 2026 | Bunnage Mark E. | 3,694 |
| Feb 13, 2026 | WAGNER CHARLES F JR | 7,610 |
| Feb 13, 2026 | Sachdev Amit | 5,605 |
| Feb 13, 2026 | Kewalramani Reshma | 21K |
| Feb 13, 2026 | Biller Jonathan | 4,623 |
| Feb 13, 2026 | Tatsis Ourania | 5,944 |
| Feb 13, 2026 | Bozic Carmen | 5,949 |
| Feb 13, 2026 | Ambrose Kristen | 1,985 |
| Feb 13, 2026 | Atkinson Edward Morrow III | 2,775 |
| Feb 13, 2026 | McKechnie Duncan | 3,410 |
| Feb 13, 2026 | Bunnage Mark E. | 3,410 |
| Jan 22, 2026 | WAGNER CHARLES F JR | 14K |
| Jan 22, 2026 | LEIDEN JEFFREY M | 9,012 |
| Jan 22, 2026 | Sachdev Amit | 12K |
| Jan 22, 2026 | ALTSHULER DAVID | 11K |
| Jan 22, 2026 | Kewalramani Reshma | 39K |
| Jan 22, 2026 | Biller Jonathan | 9,068 |
| Jan 22, 2026 | Tatsis Ourania | 12K |
| Jan 22, 2026 | Bozic Carmen | 11K |
| Jan 22, 2026 | Ambrose Kristen | 4,250 |
| Jan 22, 2026 | Atkinson Edward Morrow III | 7,817 |
| Jan 22, 2026 | McKechnie Duncan | 6,800 |
| Jan 6, 2026 | WAGNER CHARLES F JR | 9,532 |
| Dec 4, 2025 | LEIDEN JEFFREY M | 64K |
| Nov 19, 2025 | CARNEY LLOYD | 800 |
| Nov 14, 2025 | LEIDEN JEFFREY M | 73K |
| Oct 1, 2025 | Biller Jonathan | 1,259 |
| Jul 1, 2025 | Arbuckle Stuart A | 37K |
| May 13, 2025 | Arbuckle Stuart A | 38K |
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
The chart, in numbers
| Flow | Shares |
|---|---|
| From holdings | 29K |
| Granted | 236K |
| Vested / exercised | 195K |
| Withheld for tax | 110K |
| Planned sales (10b5-1) | 343K |
| Gifts | 6,800 |
Skin in the game
Directly held shares as reported after each trade, indexed to 100 at the start of the window, up to five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
The chart, in numbers
| Insider | Start of the window | Latest reported | Indexed, start = 100 |
|---|---|---|---|
| Kewalramani Reshma | 142K | 98K | 69.4 |
| Sachdev Amit | 32K | 67K | 208.3 |
| Arbuckle Stuart A | 41K | 63K | 154.2 |
| Tatsis Ourania | 59K | 54K | 90.4 |
| WAGNER CHARLES F JR | 60K | 47K | 77.9 |
Who holds what
the 14 largest holdings of 24| Insider | Role | Shares held | Buys 12 m | Sales 12 m | 12 m | Last trade |
|---|---|---|---|---|---|---|
| Kewalramani Reshma CEO & President Last trade Feb 27, 2026 | CEO | 138K | – | $20M | net selling over the year: 0 months buying, 1 month selling | Feb 27, 2026 |
| Sachdev Amit EVP Chief Patient & Ext Af Off Last trade Feb 25, 2026 | Officer | 67K | – | $28M | net selling over the year: 0 months buying, 1 month selling | Feb 25, 2026 |
| Arbuckle Stuart A EVP, COO Last trade May 15, 2024 | COO | 63K | – | – | May 15, 2024 | |
| Tatsis Ourania EVP, Chief Reg. & Quality Off. Last trade Jul 2, 2026 | Officer | 54K | – | $6.5M | net selling over the year: 0 months buying, 4 months selling | Jul 2, 2026 |
| WAGNER CHARLES F JR EVP, CO & FO Last trade Jan 6, 2026 | Officer | 47K | – | $11M | net selling over the year: 0 months buying, 2 months selling | Jan 6, 2026 |
| SACHS BRUCE I Last trade Aug 6, 2025 | Director | 39K | – | – | Aug 6, 2025 | |
| LEIDEN JEFFREY M Executive Chairman Last trade Dec 3, 2025 | Officer | 35K | – | $61M | net selling over the year: 0 months buying, 2 months selling | Dec 3, 2025 |
| ALTSHULER DAVID EVP, Chief Scientific Officer Last trade May 15, 2025 | Officer | 31K | – | – | May 15, 2025 | |
| Liu Joy EVP and Chief Legal Officer Last trade Jul 1, 2026 | Officer | 19K | – | $2.1M | net selling over the year: 0 months buying, 5 months selling | Jul 1, 2026 |
| Atkinson Edward Morrow III EVP, Chief Technical Ops. Off. Last trade Feb 25, 2026 | Officer | 18K | – | $3.6M | net selling over the year: 0 months buying, 2 months selling | Feb 25, 2026 |
| Bozic Carmen EVP and CMO Last trade Jun 26, 2026 | Officer | 15K | – | $11M | net selling over the year: 0 months buying, 4 months selling | Jun 26, 2026 |
| Biller Jonathan EVP and Chief Legal Officer Last trade Feb 25, 2026 | Officer | 14K | – | $4.1M | net selling over the year: 0 months buying, 3 months selling | Feb 25, 2026 |
| Ambrose Kristen SVP & Chief Accounting Officer Last trade Feb 26, 2026 | Officer | 12K | – | $2.0M | net selling over the year: 0 months buying, 1 month selling | Feb 26, 2026 |
| McKechnie Duncan EVP, Chief Commercial Officer Last trade Jul 2, 2026 | Officer | 11K | – | $5.7M | net selling over the year: 0 months buying, 3 months selling | Jul 2, 2026 |
Open-market trade log
the 60 most recent of 3,807| Date | Insider | Type | Shares | Price | Value | Since trade | Filed |
|---|---|---|---|---|---|---|---|
| Jul 2, 2026 | Tatsis Ourania (Officer) 1,500 shares $524.99 −1.1% since trade filed Jul 7, 2026 | Planned sale (10b5-1) | 1,500 | $524.99 | $787K | −1.1% | Jul 7, 2026 |
| Jul 2, 2026 | McKechnie Duncan (Officer) 1,541 shares $519.00 +0.0% since trade filed Jul 7, 2026 | Planned sale (10b5-1) | 1,541 | $519.00 | $800K | +0.0% | Jul 7, 2026 |
| Jul 1, 2026 | Liu Joy (Officer) 828 shares $502.71 +3.2% since trade filed Jul 6, 2026 | Planned sale (10b5-1) | 828 | $502.71 | $416K | +3.2% | Jul 6, 2026 |
| Jun 26, 2026 | Bozic Carmen (Officer) 596 shares $482.50 +7.6% since trade filed Jun 30, 2026 | Planned sale (10b5-1) | 596 | $482.50 | $288K | +7.6% | Jun 30, 2026 |
| Jun 18, 2026 | Bozic Carmen (Officer) 1,020 shares $462.17 +12.3% since trade filed Jun 23, 2026 | Planned sale (10b5-1) | 1,020 | $462.17 | $471K | +12.3% | Jun 23, 2026 |
| Jun 15, 2026 | Bozic Carmen (Officer) 4,062 shares $450.00 +15.3% since trade filed Jun 17, 2026 | Planned sale (10b5-1) | 4,062 | $450.00 | $1.8M | +15.3% | Jun 17, 2026 |
| Jun 5, 2026 | Bozic Carmen (Officer) 1,745 shares $450.00 +15.3% since trade filed Jun 9, 2026 | Planned sale (10b5-1) | 1,745 | $450.00 | $785K | +15.3% | Jun 9, 2026 |
| Jun 1, 2026 | Liu Joy (Officer) 828 shares $439.91 +18.0% since trade filed Jun 3, 2026 | Planned sale (10b5-1) | 828 | $439.91 | $364K | +18.0% | Jun 3, 2026 |
| May 29, 2026 | Bozic Carmen (Officer) 1,974 shares $450.00 +15.3% since trade filed Jun 2, 2026 | Planned sale (10b5-1) | 1,974 | $450.00 | $888K | +15.3% | Jun 2, 2026 |
| May 15, 2026 | Bozic Carmen (Officer) 1,354 shares $453.45 +14.5% since trade filed May 19, 2026 | Planned sale (10b5-1) | 1,354 | $453.45 | $614K | +14.5% | May 19, 2026 |
| May 15, 2026 | Bunnage Mark E. (Officer) 33 shares $453.45 +14.5% since trade filed May 19, 2026 | Planned sale (10b5-1) | 33 | $453.45 | $15K | +14.5% | May 19, 2026 |
| May 12, 2026 | Bozic Carmen (Officer) 6,988 shares $450.00 +15.3% since trade filed May 14, 2026 | Planned sale (10b5-1) | 6,988 | $450.00 | $3.1M | +15.3% | May 14, 2026 |
| May 4, 2026 | Bhatia Sangeeta N. (Director) 318 shares $423.73 +22.5% since trade filed May 5, 2026 | Planned sale (10b5-1) | 318 | $423.73 | $135K | +22.5% | May 5, 2026 |
| May 1, 2026 | Liu Joy (Officer) 1,104 shares $425.02 +22.1% since trade filed May 5, 2026 | Planned sale (10b5-1) | 1,104 | $425.02 | $469K | +22.1% | May 5, 2026 |
| Apr 1, 2026 | Liu Joy (Officer) 978 shares $449.17 +15.6% since trade filed Apr 3, 2026 | Planned sale (10b5-1) | 978 | $449.17 | $439K | +15.6% | Apr 3, 2026 |
| Mar 27, 2026 | Bozic Carmen (Officer) 2,329 shares $450.95 +15.1% since trade filed Mar 31, 2026 | Planned sale (10b5-1) | 2,329 | $450.95 | $1.1M | +15.1% | Mar 31, 2026 |
| Mar 13, 2026 | Bozic Carmen (Officer) 2,329 shares $481.79 +7.7% since trade filed Mar 17, 2026 | Planned sale (10b5-1) | 2,329 | $481.79 | $1.1M | +7.7% | Mar 17, 2026 |
| Mar 11, 2026 | McKechnie Duncan (Officer) 2,633 shares $498.42 +4.1% since trade filed Mar 13, 2026 | Planned sale (10b5-1) | 2,633 | $498.42 | $1.3M | +4.1% | Mar 13, 2026 |
| Mar 4, 2026 | McKechnie Duncan (Officer) 2,437 shares $475.30 +9.2% since trade filed Mar 6, 2026 | Planned sale (10b5-1) | 2,437 | $475.30 | $1.2M | +9.2% | Mar 6, 2026 |
| Mar 2, 2026 | Liu Joy (Officer) 892 shares $495.96 +4.7% since trade filed Mar 4, 2026 | Planned sale (10b5-1) | 892 | $495.96 | $442K | +4.7% | Mar 4, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 120 shares $481.50 +7.8% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 120 | $481.50 | $58K | +7.8% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 240 shares $482.84 +7.5% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 240 | $482.84 | $116K | +7.5% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 400 shares $479.75 +8.2% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 400 | $479.75 | $192K | +8.2% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 460 shares $489.32 +6.1% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 460 | $489.32 | $225K | +6.1% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 949 shares $491.30 +5.6% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 949 | $491.30 | $466K | +5.6% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 1,725 shares $496.95 +4.4% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 1,725 | $496.95 | $857K | +4.4% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 2,510 shares $487.13 +6.5% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 2,510 | $487.13 | $1.2M | +6.5% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 2,520 shares $493.29 +5.2% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 2,520 | $493.29 | $1.2M | +5.2% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 2,725 shares $490.54 +5.8% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 2,725 | $490.54 | $1.3M | +5.8% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 3,278 shares $488.27 +6.3% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 3,278 | $488.27 | $1.6M | +6.3% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 3,498 shares $494.33 +5.0% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 3,498 | $494.33 | $1.7M | +5.0% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 5,995 shares $496.16 +4.6% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 5,995 | $496.16 | $3.0M | +4.6% | Mar 3, 2026 |
| Feb 27, 2026 | Kewalramani Reshma (CEO) 16K shares $495.38 +4.8% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 16K | $495.38 | $7.7M | +4.8% | Mar 3, 2026 |
| Feb 27, 2026 | Bozic Carmen (Officer) 2,329 shares $480.31 +8.1% since trade filed Mar 3, 2026 | Planned sale (10b5-1) | 2,329 | $480.31 | $1.1M | +8.1% | Mar 3, 2026 |
| Feb 26, 2026 | Ambrose Kristen (Officer) 357 shares $483.36 +7.4% since trade filed Mar 2, 2026 | Planned sale (10b5-1) | 357 | $483.36 | $173K | +7.4% | Mar 2, 2026 |
| Feb 25, 2026 | Sachdev Amit (Officer) 1,846 shares $486.35 +6.7% since trade filed Feb 26, 2026 | Planned sale (10b5-1) | 1,846 | $486.35 | $898K | +6.7% | Feb 26, 2026 |
| Feb 25, 2026 | Biller Jonathan (Officer) 945 shares $486.35 +6.7% since trade filed Feb 26, 2026 | Planned sale (10b5-1) | 945 | $486.35 | $460K | +6.7% | Feb 26, 2026 |
| Feb 25, 2026 | Tatsis Ourania (Officer) 260 shares $486.35 +6.7% since trade filed Feb 26, 2026 | Planned sale (10b5-1) | 260 | $486.35 | $126K | +6.7% | Feb 26, 2026 |
| Feb 25, 2026 | Ambrose Kristen (Officer) 223 shares $486.35 +6.7% since trade filed Feb 26, 2026 | Planned sale (10b5-1) | 223 | $486.35 | $108K | +6.7% | Feb 26, 2026 |
| Feb 25, 2026 | Atkinson Edward Morrow III (Officer) 668 shares $486.35 +6.7% since trade filed Feb 26, 2026 | Planned sale (10b5-1) | 668 | $486.35 | $325K | +6.7% | Feb 26, 2026 |
| Feb 25, 2026 | McKechnie Duncan (Officer) 2,410 shares $489.00 +6.1% since trade filed Feb 26, 2026 | Planned sale (10b5-1) | 2,410 | $489.00 | $1.2M | +6.1% | Feb 26, 2026 |
| Feb 25, 2026 | McKechnie Duncan (Officer) 2,500 shares $486.35 +6.7% since trade filed Feb 26, 2026 | Planned sale (10b5-1) | 2,500 | $486.35 | $1.2M | +6.7% | Feb 26, 2026 |
| Feb 25, 2026 | Bunnage Mark E. (Officer) 620 shares $486.35 +6.7% since trade filed Feb 26, 2026 | Planned sale (10b5-1) | 620 | $486.35 | $302K | +6.7% | Feb 26, 2026 |
| Feb 19, 2026 | Sachdev Amit (Officer) 920 shares $463.91 +11.9% since trade filed Feb 23, 2026 | Planned sale (10b5-1) | 920 | $463.91 | $427K | +11.9% | Feb 23, 2026 |
| Feb 19, 2026 | Sachdev Amit (Officer) 1,848 shares $465.80 +11.4% since trade filed Feb 23, 2026 | Planned sale (10b5-1) | 1,848 | $465.80 | $861K | +11.4% | Feb 23, 2026 |
| Feb 19, 2026 | Sachdev Amit (Officer) 2,730 shares $465.05 +11.6% since trade filed Feb 23, 2026 | Planned sale (10b5-1) | 2,730 | $465.05 | $1.3M | +11.6% | Feb 23, 2026 |
| Feb 19, 2026 | Sachdev Amit (Officer) 4,237 shares $471.43 +10.1% since trade filed Feb 23, 2026 | Planned sale (10b5-1) | 4,237 | $471.43 | $2.0M | +10.1% | Feb 23, 2026 |
| Feb 19, 2026 | Sachdev Amit (Officer) 7,241 shares $469.61 +10.5% since trade filed Feb 23, 2026 | Planned sale (10b5-1) | 7,241 | $469.61 | $3.4M | +10.5% | Feb 23, 2026 |
| Feb 19, 2026 | Sachdev Amit (Officer) 10K shares $467.75 +11.0% since trade filed Feb 23, 2026 | Planned sale (10b5-1) | 10K | $467.75 | $4.8M | +11.0% | Feb 23, 2026 |
| Feb 19, 2026 | Sachdev Amit (Officer) 12K shares $470.54 +10.3% since trade filed Feb 23, 2026 | Planned sale (10b5-1) | 12K | $470.54 | $5.5M | +10.3% | Feb 23, 2026 |
| Feb 19, 2026 | Sachdev Amit (Officer) 20K shares $468.57 +10.8% since trade filed Feb 23, 2026 | Planned sale (10b5-1) | 20K | $468.57 | $9.2M | +10.8% | Feb 23, 2026 |
| Feb 18, 2026 | Biller Jonathan (Officer) 1,244 shares $473.68 +9.6% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 1,244 | $473.68 | $589K | +9.6% | Feb 19, 2026 |
| Feb 18, 2026 | Tatsis Ourania (Officer) 368 shares $473.68 +9.6% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 368 | $473.68 | $174K | +9.6% | Feb 19, 2026 |
| Feb 18, 2026 | Ambrose Kristen (Officer) 638 shares $473.68 +9.6% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 638 | $473.68 | $302K | +9.6% | Feb 19, 2026 |
| Feb 18, 2026 | Atkinson Edward Morrow III (Officer) 817 shares $473.68 +9.6% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 817 | $473.68 | $387K | +9.6% | Feb 19, 2026 |
| Feb 18, 2026 | Bunnage Mark E. (Officer) 1,182 shares $473.68 +9.6% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 1,182 | $473.68 | $560K | +9.6% | Feb 19, 2026 |
| Feb 17, 2026 | Biller Jonathan (Officer) 2,476 shares $489.46 +6.0% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 2,476 | $489.46 | $1.2M | +6.0% | Feb 19, 2026 |
| Feb 17, 2026 | Tatsis Ourania (Officer) 609 shares $489.46 +6.0% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 609 | $489.46 | $298K | +6.0% | Feb 19, 2026 |
| Feb 17, 2026 | Ambrose Kristen (Officer) 1,557 shares $489.46 +6.0% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 1,557 | $489.46 | $762K | +6.0% | Feb 19, 2026 |
| Feb 17, 2026 | Atkinson Edward Morrow III (Officer) 2,031 shares $489.46 +6.0% since trade filed Feb 19, 2026 | Planned sale (10b5-1) | 2,031 | $489.46 | $994K | +6.0% | Feb 19, 2026 |
“Since trade” compares with the latest insider-implied price, not a market quote: these pages are built from filings alone. A role here is the one on that day's Form 4, so somebody promoted since appears under both titles.
Filing hygiene
321 Forms 4, 3 years
0 filed late
0 amendments
2.1 avg. days to file
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.