<P> Form 4 is a United States SEC filing that relates to insider trading . Every director, officer or owner of more than 10% of a class of equity securities registered under Section 12 of the Securities Exchange Act of 1934 must file with the United States Securities and Exchange Commission a statement of ownership regarding such security . The initial filing is on Form 3 and changes are reported on Form 4 . The annual statement of beneficial ownership of securities is on Form 5 . The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities . </P> <P> Form 4 is stored in SEC's EDGAR database . </P> <P> A Form 4 must be filed before the end of the second business day following a change in ownership of securities or derivative securities (including the exercise or grant of stock options) for individuals subject to Section 16 of the Securities Exchange Act of 1934 . </P> <P> Each transaction listed on the Form 4 filing has a transaction code: </P>

When do form 4s need to be filed