U.S. Markets closed
  • S&P 500

    4,356.45
    -53.68 (-1.22%)
     
  • Dow 30

    34,297.73
    -66.77 (-0.19%)
     
  • Nasdaq

    13,539.29
    -229.61 (-1.67%)
     
  • Russell 2000

    2,025.15
    +37.23 (+1.87%)
     
  • Crude Oil

    85.14
    +1.83 (+2.20%)
     
  • Gold

    1,848.70
    +7.00 (+0.38%)
     
  • Silver

    23.89
    +0.09 (+0.36%)
     
  • EUR/USD

    1.1303
    -0.0027 (-0.2374%)
     
  • 10-Yr Bond

    1.7830
    +0.0360 (+2.06%)
     
  • Vix

    29.99
    +1.14 (+3.95%)
     
  • GBP/USD

    1.3508
    +0.0017 (+0.1297%)
     
  • USD/JPY

    113.8900
    -0.0700 (-0.0614%)
     
  • BTC-USD

    36,621.43
    -352.26 (-0.95%)
     
  • CMC Crypto 200

    831.66
    +21.06 (+2.60%)
     
  • FTSE 100

    7,371.46
    -122.67 (-1.64%)
     
  • Nikkei 225

    27,131.34
    -457.06 (-1.66%)
     

Notable Treace Medical Concepts Insider Trades $580K In Company Stock

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
In this article:
  • Oops!
    Something went wrong.
    Please try again later.
  • TMCI

Sean Scanlan, Insider at Treace Medical Concepts (NASDAQ:TMCI), made a large buy and sell of company shares on November 10, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission states that Sean Scanlan exercised options to purchase 25,000 Treace Medical Concepts shares at a price of $1.57 per share for a total of $39,250 on November 10. They then sold their shares on the same day in the open market. They sold at prices ranging from $21.53 to $22.20 to raise a total of $538,431 from the stock sale.

Following the transaction, Scanlan still maintains ownership in the form of derivative securites,totaling 57,524 shares.

Treace Medical Concepts shares are trading down 1.1% at $21.53 at the time of this writing on Monday morning.

Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.

Why Insider Transactions Are Important

Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Important Transaction Codes

Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.

Check Out The Full List Of Treace Medical Concepts's Insider Trades.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

See more from Benzinga

© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.