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Glossary · Insiders and Congress

Planned sale (10b5-1)

A sale scheduled months in advance under an SEC Rule 10b5-1 trading plan.

Why it matters

Because the timing was set before any recent news, planned sales say little about what the insider thinks today.

How to read it

A high share of planned sales means most selling is routine. Unplanned selling by several insiders deserves a closer look.

Also called: 10b5-1 plan

Related

Form 4The filing a company insider must send the SEC within two business days of buying or selling the company’s shares.Insider activityShares bought or sold by a company’s own executives and directors, from SEC Form 4 filings.

In the Cluenex app, this explanation opens next to every planned sale (10b5-1) figure, with the live reading for the stock you are looking at. Open it in Cluenex