SEC Insiders 📈

Automated SEC Form 4 cluster detection, scoring, and publishing pipeline.

SEC Insiders parses Form 4 filings of S&P 500 companies to detect discretionary buy/sell clusters. In addition to these findings, we compute contextual market metrics and automatically generate shareable market commentary.

Built with a focus on creating a system that provides succinct, dispassionate analysis of insider activity, while leveraging modular construction to allow future extensibility.

What It Does

1. Ingests Form 4 filings
   • Parses XML filings from the SEC
   • Normalizes transactions into structured records
   • Stores data in SQLite
2. Filters for quality-signal activity
   • We exclude: 10b5-1 plan transactions, option exercises, exercise-related sales, equity swaps
   • Focus on discretionary open-market buys (P) and sells (S)
3. Detects clusters
   • Groups transactions by:
     • CIK
     • Transaction code
     • Rolling time window (configurable)
     • Identifies multi-insider accumulation or distribution events
4. Adds contextual metrics
   • Moving averages (20MA, 200MA)
   • Price location vs MA
   • Transaction size in relation to holdings
   • Role aggregation (CEO, CFO, Director, etc.)
5. Generates output
   • Renders shareable images, which are automatically posted to Bluesky and X

Example Output

Architecture

SEC XML Feed
     ↓
XML Parser → Normalizer
     ↓
SQLite (WAL mode)
     ↓
Cluster Engine
     ↓
Metric Enrichment (Price relation to 20/200 MA)
     ↓
Renderer HTML → Puppeteer / Publisher

Signal Philosophy - The goal is quality, not volume.

To limit noise, we first exclude officers that are typically not affiliated with daily business. Such as titles that contain: retired, former, emeritus, interim, advisor, etc.

A Purchase Cluster Qualifies if:

1. The transactions are in a 45-day window (subject to change)
2. The minimum transaction in the window is met (currently 3)
3. An equity swap wasn't involved
4. Was not an option exercise
5. Was not the result of an exercise or exercise-related sale
6. Was not a predetermined sale under a 10b5-1 plan
7. The weighted average purchase price is less than the 20 MA and 200 MA

A Sale Cluster Qualifies if:

1. The transactions are in a 45-day window (subject to change)
2. The minimum transaction in the window is met (currently 3)
3. An equity swap wasn't involved
4. Was not an option exercise
5. Was not the result of an exercise or exercise-related sale
6. Was not a predetermined sale under a 10b5-1 plan
7. The weighted average purchase price is greater than the 200 MA

Tech Stack

• Node.js (ESM)
• TypeScript
• SQLite (better-sqlite3)
• Puppeteer (image generation)
• Docker (deployment)
• LaunchAgent (timed runs)

Disclaimer

This tool surfaces public SEC filings and applies filtering logic. It does not constitute investment advice.