SEC Form 4 Transaction Code

Code D

Disposition to Issuer

Shares returned to the company, typically to cover the exercise price of options or under a buyback program directed at insiders. Low directional relevance on its own.

Signal_Context

Low directional signal

Code D is commonly tied to dispositions back to the issuer and needs footnote review before assigning sentiment.

How to read Code D

  • Start by confirming whether the transaction appears in Table I or Table II.
  • Compare the transaction value against the insider's remaining ownership.
  • Read footnotes for 10b5-1 plans, tax withholding, trusts, gifts, or issuer-directed actions.
  • Do not mix compensation mechanics with voluntary open-market buying or selling.

See this code in live Form 4 data

NVDAAAPLMETAMSFTTSLAAMD

Form 4 Code D — FAQ

>What does Form 4 Code D mean?

Form 4 Code D means Disposition to Issuer. The exact investment signal depends on whether the transaction is voluntary, mechanical, compensation-related, or disclosed with additional footnotes.

>Is Form 4 Code D bullish or bearish?

Code D is commonly tied to dispositions back to the issuer and needs footnote review before assigning sentiment.

>How should investors use Code D in insider trading analysis?

Investors should compare the code against transaction value, remaining ownership, insider rank, timing, and related transactions before assigning sentiment.