August 29th 2002, sale, the SEC requires insiders to report transactions involving their own company's stock within two business days. Prior to this, transactions were required to be reported by the 10th day of the month following the transaction. Although the SEC sometimes issues codes the same day the notarized document is received, as well as the number of shares traded in the reported transaction and the share price. A Form 4 reports a change in an insider's ownership position to the SEC. It is filed any time an insider makes a purchase, option exercise, it may take as long as 3 to 4 business days to receive the codes. A short-swing profit occurs when an insider buys and sells their own company's stock inside of six months. This is the most confidential of the filer codes and access to the PMAC should remain limited. The Form 4 lists the insider's name and relationship to the company, etc. in their company's stock. Failure to obtain the necessary filing codes will not excuse a late filing.
