Form 144 Vs Form 4 Divergence
In plain terms
When insiders file paperwork saying they will sell but then don't actually sell much, the stock tends to drift up as the perceived overhang lifts.
How it works
Form 144 declares intent to sell, but execution shows up on Form 4. When 90d aggregate Form 144 market value materially exceeds 90d Form 4 sale dollar-value, the overhang is unrealized — typically resolving with a price drift UP as traders who shorted on the headline cover.
Live results
2 times picked on its own · 118 times inside a blend (112 beat the stock) · updated 2026-06-06Data dependencies
- Daily prices
Adjusted-close OHLCV for every US-listed ticker; primary price feed.
- SEC form 144 filings
SEC Form 144 planned-sale notices, parsed from EDGAR structured filings.
- SEC insider trades
Form-4 insider transactions with role, size, and trade direction.
Expected edge
- Reported return
- 50-150 bps over 20-60d (internal)
- Tested over
- T+1 to T+60d
Internal target 50-150 bps over 20-60d on overhang-relief windows.
Related families
When insiders file large planned-sale notices, we short the issuer for the next few weeks.
When 2+ insiders file paperwork to sell within 14 days of each other, the coordinated planned-exit signal tends to mark short-term tops.
When several insiders buy their own stock within a short window (a 'cluster buy'), it's the most reliable insider signal. Sales are mostly noise.
Explore Form 144 Vs Form 4 Divergence on alphactor.ai
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