Terms of Service

Acceptance

These terms govern your use of InsiderBid at insiderbid.com (the “Site”). By using the Site you agree to them. If you do not agree, please do not use it.

The Site is free to read and requires no account. You may stop using it at any time.

Not investment advice

InsiderBid is a publisher of public regulatory filings. It is not an investment adviser, broker-dealer, or financial planner, and nothing on the Site is investment advice.

Everything published here is general information made available to the public at large. It is not tailored to you, your circumstances, your portfolio or your objectives, and it does not take any of them into account. We make no recommendation to buy, sell or hold any security. We publish no ratings, price targets, model portfolios or personalised guidance.

Insider buying is one data point among many, and it is not a reliable predictor of price. Insiders trade for reasons they never disclose — diversification, taxes, divorce, a mortgage — and they are frequently wrong about their own companies. Decisions you make using this Site are yours alone, and you should consider taking advice from a qualified professional who is regulated to give it.

Data accuracy

Data originates from SEC EDGAR and is provided “as is”, with no warranty of accuracy, completeness or timeliness.

Specifically, and not as a formality:

• Form 4 is self-reported. Filers make arithmetic and data-entry errors, and nobody at the SEC validates the figures before publication. We detect and flag implausible values, but we cannot catch everything.
• Filings arrive late. Insiders miss the two-business-day deadline, and some transactions are reported months after the fact.
• Filings are amended. We supersede an original with its amendment automatically, so figures you saw previously may change.
• Our classification is our interpretation of each filing. It is documented in full at Methodology so you can judge it, and disagree with it.
• Ingestion can lag or fail. Absence of a trade on this Site is not evidence that no trade occurred.

Every row links to its source filing. Verify against the original before acting on anything. We are not affiliated with, endorsed by, or acting on behalf of the U.S. Securities and Exchange Commission.

Acceptable use

You agree not to:

• scrape, crawl or bulk-download the Site at a rate that degrades it for others, or in a way that circumvents any rate limit or technical restriction;
• republish our data in bulk as a competing dataset or feed. The underlying filings are public domain and you are welcome to obtain them from the SEC directly, which is where everyone should get bulk data from;
• misrepresent the Site’s output as your own analysis, or as advice from us;
• attempt to gain unauthorised access to any system, account or data; or
• use the Site for anything unlawful.

Normal reading, sharing links, and quoting with attribution are all fine and encouraged.

Intellectual property

The filing data is in the public domain. It consists of facts drawn from mandatory federal disclosures, and we claim no ownership of it.

What is ours is the work built on top: our classification system, cluster-buy detection, plausibility checks, written summaries, editorial content, page design, and the software that produces all of it. Those are protected by copyright and remain our property. The InsiderBid name and logo are ours.

Availability

We provide the Site free of charge and on a best-efforts basis. We do not guarantee any level of uptime, and we may change, suspend or discontinue any part of it — including features you rely on — at any time and without notice.

Limitation of liability

To the fullest extent permitted by law, the Site is provided without warranties of any kind, express or implied, including any implied warranties of merchantability, fitness for a particular purpose, accuracy, and non-infringement.

To the fullest extent permitted by law, we will not be liable for any indirect, incidental, consequential, special or punitive damages, nor for any trading or investment losses, lost profits, or lost opportunity, arising from your use of or reliance on the Site — even if we have been advised that such damages are possible.

Some jurisdictions do not allow the exclusion of certain warranties or liabilities, so parts of the above may not apply to you. Nothing in these terms excludes liability that cannot lawfully be excluded.

Changes to these terms

We may update these terms. The effective date at the top will change, and for a significant revision we will say so on the Site. Continuing to use the Site after a change means you accept the revised terms.

Governing law

These terms are governed by the laws of the State of Michigan, United States, without regard to conflict-of-law rules. Any dispute will be brought in the courts located there.

Contact

Questions about these terms: hello@insiderbid.com.

See also our Privacy Policy and Methodology.