Insiders

Corporate insiders are the company's officers and directors, and any beneficial owners of more than ten percent of a class of the company's shares. Insiders must file:

Forms 3, 4, 5 (Beneficial Ownership)

• Reports insider ownership by officers and directors
• Initial purchase (Form 3), Change in holdings (Form 4) and Annual filings (Form 5)

Institutional Owners

13F institutions are investment managers that invest in their own account or manage the accounts of other investors and have authority over assets in excess of $100 million.  Institutional investment managers can include banks, investment advisors, insurance companies, broker-dealers, mutual funds and pension funds. Institutional owners file:

13-F (Institutional Ownership)

• Reports equity holdings by institutional investors (mutual funds, banks, corporations, & others)
• Filed within 45 days of the end of each quarter of the fiscal year

 13-D (5% Ownership)

• Reports holdings of 5% or more of a corporation’s shares
• Can signal a merger or increased shareholder activism
• Filed within 10 days of the event