--- title: Three traps in a week of raw SEC Form 4 data | daily.dev description: A weekly analysis of SEC Form 4 insider trading data reveals three common traps that cause naive data aggregation to mislead: (1) double-counting the same... canonical: https://daily.dev/posts/three-traps-in-a-week-of-raw-sec-form-4-data-wg6dvzioc twitter:card: summary_large_image twitter:site: @dailydotdev og:type: website og:site_name: daily.dev og:title: Three traps in a week of raw SEC Form 4 data | daily.dev og:description: A weekly analysis of SEC Form 4 insider trading data reveals three common traps that cause naive data aggregation to mislead: (1) double-counting the same... og:url: https://daily.dev/posts/three-traps-in-a-week-of-raw-sec-form-4-data-wg6dvzioc og:image: https://api.daily.dev/og/posts/Wg6DvZiOC.png og:image:alt: Three traps in a week of raw SEC Form 4 data og:image:width: 1200 og:image:height: 630 og:locale: en --- > ## Documentation Index > Fetch the complete documentation index at: https://daily.dev/llms.txt > Use this file to discover all available pages before exploring further. # Three traps in a week of raw SEC Form 4 data **[AlphAI](https://daily.dev/sources/alphai)** · [@mikhailmakeev](https://daily.dev/mikhailmakeev) · 1 min read · 0 upvotes · 0 comments ## Summary A weekly analysis of SEC Form 4 insider trading data reveals three common traps that cause naive data aggregation to mislead: (1) double-counting the same $497.4M Primo Brands sale filed by both a fund and its affiliated director, (2) misreading $103.6M of Electronic Arts transactions as insider selling when they are actually take-private deal consideration at a fixed price of $210.00, and (3) inflated buying figures where 74% of a $269.4M total came from a Braveheart Bio financing round at $18.00 rather than open-market purchases. After filtering these artifacts, the clearest genuine signal was Boston Scientific's CEO buying $9.0M of company stock at market price. ## Content We publish a weekly readout of SEC Form 4 filings, and this week's window was a catalog of ways the raw data misleads you if you just sum it. First trap: the biggest "sale" of the week, $497.4M of Primo Brands, appears twice, because the fund and its affiliated director each filed a Form 4 over the same shares. Sum the feed naively and you double count half a billion dollars. Second: Electronic Arts shows $103.6M of insider "selling". Every row is code D at exactly $210.00, which is the take-private price. That is deal consideration being cashed out, not executives dumping stock. Third: buying looked like it doubled to $269.4M. About 74% of it was ten filers reporting Braveheart Bio at exactly $18.00 on the same day, a financing round that shows up on Form 4 looking like open-market conviction. After stripping all that, the cleanest real signal left was Boston Scientific's CEO paying $9.0M for his own stock at market. Full breakdown with the 10b5-1 split flagged: https://alphai.io/research/2026-w32-insider-radar ## Similar posts on daily.dev - [Free Historical Insider Trading and Institutional Holdings Data](https://daily.dev/posts/free-historical-insider-trading-and-institutional-holdings-data-eugvd7fh4) · Medium · 0 upvotes · 0 comments - [How to Analyze Insider Transactions with Python: A CEO Buying Case Study](https://daily.dev/posts/how-to-analyze-insider-transactions-with-python-a-ceo-buying-case-study-x6xdahxf3) · freeCodeCamp · 1 upvotes · 0 comments - [Tech billionaires cashed out $16 billion in 2025 as stocks soared](https://daily.dev/posts/tech-billionaires-cashed-out-16-billion-in-2025-as-stocks-soared-ghfadktrx) · TechCrunch · 1 upvotes · 1 comments - [LABScon25 Replay \| Breach Alpha: Trading on Cyber Fallout](https://daily.dev/posts/labscon25-replay-breach-alpha-trading-on-cyber-fallout-zcvx5yh4s) · SentinelLABS · 0 upvotes · 0 comments - [EA shareholders back $55bn acquisition](https://daily.dev/posts/ea-shareholders-back-55bn-acquisition-nrfaaqkec) · GamesIndustry.biz · 0 upvotes · 0 comments --- Tags: [#data-analysis](https://daily.dev/tags/data-analysis), [#fintech](https://daily.dev/tags/fintech) [View this post on daily.dev](https://daily.dev/posts/three-traps-in-a-week-of-raw-sec-form-4-data-wg6dvzioc) ```json {"@context":"https://schema.org","@graph":[{"@type":"Organization","@id":"https://daily.dev/#organization","name":"daily.dev","url":"https://daily.dev","logo":{"@type":"ImageObject","url":"https://daily.dev/apple-touch-icon.png","width":180,"height":180},"sameAs":["https://twitter.com/dailydotdev","https://github.com/dailydotdev","https://www.linkedin.com/company/daily-dev-ltd"]},{"@type":"WebSite","@id":"https://daily.dev/#website","url":"https://daily.dev","name":"daily.dev","publisher":{"@id":"https://daily.dev/#organization"},"potentialAction":{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https://daily.dev/search?q={search_term_string}"},"query-input":"required name=search_term_string"}}]} {"@context":"https://schema.org","@type":"DiscussionForumPosting","mainEntityOfPage":"https://daily.dev/posts/three-traps-in-a-week-of-raw-sec-form-4-data-wg6dvzioc","headline":"Three traps in a week of raw SEC Form 4 data","text":"A weekly analysis of SEC Form 4 insider trading data reveals three common traps that cause naive data aggregation to mislead: (1) double-counting the same $497.4M Primo Brands sale filed by both a fund and its affiliated director, (2) misreading $103.6M of Electronic Arts transactions as insider selling when they are actually take-private deal consideration at a fixed price of $210.00, and (3) inflated buying figures where 74% of a $269.4M total came from a Braveheart Bio financing round at $18.00 rather than open-market purchases. 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