TWST
insider transactionsTwist Bioscience Corp — buys & sells by directors, officers and 10% owners A shareholder owning more than 10% of the company. Must report trades, but usually a weaker signal than an officer or director. (SEC Form 4).
Net shares · 365d
-399.5K
0 buy · 399.5K sell
Net value · 365d
-$22.5M
$0 in · $22.5M out
Sentiment · 365d
Net selling
0% buying · 100% selling
Open-market trades · 365d
76
0 buy · 399.5K sell
Net buy / sell volume
Not enough data to chart yet.
Tap or hover the chart for daily net volume. Green = net buying, red = net selling.
All transactions
-
Exercise·M
SVP of Human Resources
$0
26.1K sh
Own New
-
Sell·S
SVP of Human Resources
$166.6K
2.0K sh · $82.17
Own -2%
-
Sell·S
SVP of Human Resources
$2.0M
24.1K sh · $81.62
Own -16%
-
Exercise·M
SVP of Human Resources
$609.8K
26.1K sh · $23.33
Own +22%
-
Other·G
Chief Accounting Officer
$0
500 sh
Own -1%
-
Sell·S
Chief Accounting Officer
$77.8K
1.1K sh · $69.07
Own -2%
-
Sell·S
Chief Accounting Officer
$16.2K
232 sh · $69.84
Own -0%
-
Sell·S
Chief Executive Officer
$158.2K
2.3K sh · $69.84
Own -0%
-
Sell·S
SVP of Human Resources
$61.7K
884 sh · $69.84
Own -1%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief …
$28.1K
402 sh · $69.84
Own -0%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer · 10b5-1
$280.0K
4.0K sh · $70.00
Own -3%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief … · 10b5-1
$990.8K
14.2K sh · $69.75
Own -11%
-
Sell·S
Director · 10b5-1
$170.0K
2.5K sh · $68.00
Own -10%
-
Exercise·M
Chief Executive Officer · 10b5-1
$0
16.5K sh
Own +28%
-
Sell·S
Chief Executive Officer · 10b5-1
$443.6K
6.5K sh · $68.61
Own -1%
-
Sell·S
Chief Executive Officer · 10b5-1
$518.0K
7.6K sh · $67.95
Own -1%
-
Sell·S
Chief Executive Officer · 10b5-1
$60.2K
900 sh · $66.85
Own -0%
-
Sell·S
Chief Executive Officer · 10b5-1
$96.8K
1.5K sh · $65.33
Own -0%
-
Exercise·M
Chief Executive Officer · 10b5-1
$145.3K
16.5K sh · $8.82
Own +2%
-
Exercise·M
Chief Executive Officer · 10b5-1
$0
25.0K sh
Own +37%
-
Sell·S
Chief Executive Officer · 10b5-1
$83.8K
1.3K sh · $66.28
Own -0%
-
Sell·S
Chief Executive Officer · 10b5-1
$1.5M
23.8K sh · $65.24
Own -3%
-
Exercise·M
Chief Executive Officer · 10b5-1
$220.6K
25.0K sh · $8.82
Own +3%
-
Sell·S
Chief Accounting Officer
$50.0K
800 sh · $62.48
Own -2%
-
Sell·S
Director · 10b5-1
$30.5K
500 sh · $61.04
Own -2%
-
Exercise·M
Chief Executive Officer · 10b5-1
$0
24.3K sh
Own +26%
-
Sell·S
Chief Executive Officer · 10b5-1
$1.6M
24.3K sh · $65.08
Own -3%
-
Exercise·M
Chief Executive Officer · 10b5-1
$214.2K
24.3K sh · $8.82
Own +3%
-
Sell·S
Chief Accounting Officer
$36.6K
688 sh · $53.26
Own -1%
-
Sell·S
Chief Executive Officer
$366.8K
6.9K sh · $53.26
Own -1%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer
$107.5K
2.0K sh · $53.26
Own -2%
-
Sell·S
SVP of Human Resources
$74.5K
1.4K sh · $53.26
Own -1%
-
Sell·S
President and COO
$221.5K
4.2K sh · $53.26
Own -1%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief …
$87.4K
1.6K sh · $53.26
Own -1%
-
Exercise·M
Director
$0
12.0K sh
Own New
-
Sell·S
Director
$673.4K
12.0K sh · $56.12
Own -40%
-
Exercise·M
Director
$168.0K
12.0K sh · $14.00
Own +68%
-
Sell·S
Chief Accounting Officer
$282.2K
5.0K sh · $56.88
Own -9%
-
Sell·S
Chief Accounting Officer
$9.4K
164 sh · $57.15
Own -0%
-
Sell·S
Chief Executive Officer
$293.0K
5.1K sh · $57.15
Own -1%
-
Sell·S
SVP of Human Resources
$63.8K
1.1K sh · $57.15
Own -1%
-
Sell·S
President and COO
$162.5K
2.8K sh · $57.15
Own -1%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief …
$112.1K
2.0K sh · $57.15
Own -1%
-
Sell·S
Director · 10b5-1
$30.9K
500 sh · $61.83
Own -2%
-
Sell·S
President and COO
$141.0K
2.3K sh · $60.76
Own -1%
-
Exercise·M
Chief Executive Officer · 10b5-1
$0
8.1K sh
Own +6%
-
Sell·S
Chief Executive Officer · 10b5-1
$10.0K
151 sh · $66.00
Own -0%
-
Sell·S
Chief Executive Officer · 10b5-1
$516.3K
7.9K sh · $65.28
Own -1%
-
Exercise·M
Chief Executive Officer · 10b5-1
$71.1K
8.1K sh · $8.82
Own +1%
-
Exercise·M
Chief Executive Officer · 10b5-1
$0
1.6K sh
Own +1%
-
Sell·S
Chief Executive Officer · 10b5-1
$104.7K
1.6K sh · $65.01
Own -0%
-
Exercise·M
Chief Executive Officer · 10b5-1
$14.2K
1.6K sh · $8.82
Own +0%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer · 10b5-1
$240.0K
4.0K sh · $60.00
Own -3%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer · 10b5-1
$165.0K
3.0K sh · $55.00
Own -2%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer
$129.6K
2.6K sh · $49.89
Own -2%
-
Sell·S
Director · 10b5-1
$51.0K
1.0K sh · $51.00
Own -4%
-
Sell·S
Chief Executive Officer
$76.3K
1.7K sh · $43.79
Own -0%
-
Sell·S
SVP of Human Resources
$13.0K
297 sh · $43.79
Own -0%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief …
$15.5K
354 sh · $43.79
Own -0%
-
Exercise·M
Director · 10b5-1
$0
10.0K sh
Own +119%
-
Sell·S
Director · 10b5-1
$470.0K
10.0K sh · $47.00
Own -32%
-
Exercise·M
Director · 10b5-1
$118.9K
10.0K sh · $11.89
Own +47%
-
Sell·S
Chief Accounting Officer
$11.4K
246 sh · $46.43
Own -0%
-
Sell·S
Chief Executive Officer
$112.5K
2.4K sh · $46.43
Own -0%
-
Sell·S
SVP of Human Resources
$43.4K
935 sh · $46.43
Own -1%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief …
$19.7K
425 sh · $46.43
Own -0%
-
Sell·S
Chief Accounting Officer
$79.1K
1.7K sh · $46.71
Own -3%
-
Sell·S
Chief Executive Officer
$336.5K
7.2K sh · $46.71
Own -1%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer
$97.4K
2.1K sh · $46.71
Own -2%
-
Sell·S
SVP of Human Resources
$68.4K
1.5K sh · $46.71
Own -1%
-
Sell·S
President and COO
$200.6K
4.3K sh · $46.71
Own -1%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief …
$39.4K
844 sh · $46.71
Own -1%
-
Sell·S
SVP of Human Resources
$2.1M
39.4K sh · $52.40
Own -24%
-
Exercise·M
President and COO · 10b5-1
$0
18.2K sh
Own New
-
Exercise·M
President and COO · 10b5-1
$0
32.3K sh
Own New
-
Sell·S
President and COO · 10b5-1
$188.1K
3.5K sh · $53.11
Own -1%
-
Sell·S
President and COO · 10b5-1
$1.4M
27.0K sh · $52.69
Own -8%
-
Sell·S
President and COO · 10b5-1
$854.4K
16.6K sh · $51.42
Own -5%
-
Sell·S
President and COO · 10b5-1
$1.1M
21.9K sh · $50.32
Own -6%
-
Exercise·M
President and COO · 10b5-1
$861.1K
32.3K sh · $26.66
Own +10%
-
Exercise·M
President and COO · 10b5-1
$424.7K
18.2K sh · $23.33
Own +6%
-
Exercise·M
President and COO · 10b5-1
$0
500 sh
Own +3%
-
Exercise·M
President and COO · 10b5-1
$0
712 sh
Own +2%
-
Sell·S
President and COO · 10b5-1
$87.6K
1.8K sh · $50.04
Own -1%
-
Exercise·M
President and COO · 10b5-1
$19.0K
712 sh · $26.66
Own +0%
-
Exercise·M
President and COO · 10b5-1
$11.7K
500 sh · $23.33
Own +0%
-
Sell·S
Director
$105.4K
2.2K sh · $48.26
Own -9%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer · 10b5-1
$350.0K
7.0K sh · $50.00
Own -5%
-
Exercise·M
President and COO · 10b5-1
$0
1.0K sh
Own +6%
-
Exercise·M
President and COO · 10b5-1
$0
1.5K sh
Own +5%
-
Sell·S
President and COO · 10b5-1
$175.8K
3.5K sh · $50.23
Own -1%
-
Exercise·M
President and COO · 10b5-1
$40.0K
1.5K sh · $26.66
Own +0%
-
Exercise·M
President and COO · 10b5-1
$23.3K
1.0K sh · $23.33
Own +0%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief … · 10b5-1
$249.7K
5.0K sh · $49.93
Own -3%
-
Other·G
Chief Accounting Officer
$0
2.0K sh
Own -3%
-
Sell·S
Director
$105.4K
2.2K sh · $47.91
Own -11%
-
Grant·A
Director
$0
5.1K sh
Own +24%
-
Grant·A
Director
$0
5.1K sh
Own +21%
-
Grant·A
Director
$0
5.1K sh
Own +34%
-
Grant·A
Director
$0
5.1K sh
Own +23%
-
Grant·A
Director
$0
5.1K sh
Own +28%
-
Sell·S
Chief Accounting Officer
$319.5K
7.0K sh · $45.65
Own -11%
-
Sell·S
Chief Accounting Officer
$8.2K
175 sh · $46.58
Own -0%
-
Sell·S
Chief Executive Officer
$232.9K
5.0K sh · $46.58
Own -1%
-
Sell·S
SVP of Human Resources
$55.6K
1.2K sh · $46.58
Own -1%
-
Sell·S
President and COO
$126.0K
2.7K sh · $46.58
Own -1%
-
Sell·S
Dennis Cho KEY
Senior Vice President, Chief …
$51.2K
1.1K sh · $46.58
Own -1%
-
Sell·S
President and COO
$107.3K
2.4K sh · $44.91
Own -1%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer · 10b5-1
$120.0K
3.0K sh · $40.00
Own -2%
-
Exercise·M
President and COO · 10b5-1
$0
3.3K sh
Own New
-
Sell·S
President and COO · 10b5-1
$931.2K
23.3K sh · $40.00
Own -7%
-
Exercise·M
President and COO · 10b5-1
$28.9K
3.3K sh · $8.82
Own +1%
-
Sell·S
Adam Laponis KEY
Chief Financial Officer
$96.5K
2.7K sh · $35.26
Own -2%
| Date▾ | Insider | Type | Shares | Value |
|---|---|---|---|---|
| Jun 15, 2026 | Paula Green | Exercise M | 26.1K | $0 |
| Jun 15, 2026 | Paula Green | Sell S | 2.0K | $166.6K |
| Jun 15, 2026 | Paula Green | Sell S | 24.1K | $2.0M |
| Jun 15, 2026 | Paula Green | Exercise M | 26.1K | $609.8K |
| Jun 8, 2026 | Robert F. Werner | Other G | 500 | $0 |
| Jun 8, 2026 | Robert F. Werner | Sell S | 1.1K | $77.8K |
| Jun 8, 2026 | Robert F. Werner | Sell S | 232 | $16.2K |
| Jun 8, 2026 | Emily M. Leproust KEY | Sell S | 2.3K | $158.2K |
| Jun 8, 2026 | Paula Green | Sell S | 884 | $61.7K |
| Jun 8, 2026 | Dennis Cho KEY | Sell S | 402 | $28.1K |
| May 29, 2026 | Adam Laponis KEY 10b5-1 | Sell S | 4.0K | $280.0K |
| May 29, 2026 | Dennis Cho KEY 10b5-1 | Sell S | 14.2K | $990.8K |
| May 28, 2026 | Melissa A. Starovasnik 10b5-1 | Sell S | 2.5K | $170.0K |
| May 28, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 16.5K | $0 |
| May 28, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 6.5K | $443.6K |
| May 28, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 7.6K | $518.0K |
| May 28, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 900 | $60.2K |
| May 28, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 1.5K | $96.8K |
| May 28, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 16.5K | $145.3K |
| May 27, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 25.0K | $0 |
| May 27, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 1.3K | $83.8K |
| May 27, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 23.8K | $1.5M |
| May 27, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 25.0K | $220.6K |
| May 26, 2026 | Robert F. Werner | Sell S | 800 | $50.0K |
| May 26, 2026 | Melissa A. Starovasnik 10b5-1 | Sell S | 500 | $30.5K |
| May 26, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 24.3K | $0 |
| May 26, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 24.3K | $1.6M |
| May 26, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 24.3K | $214.2K |
| May 21, 2026 | Robert F. Werner | Sell S | 688 | $36.6K |
| May 21, 2026 | Emily M. Leproust KEY | Sell S | 6.9K | $366.8K |
| May 21, 2026 | Adam Laponis KEY | Sell S | 2.0K | $107.5K |
| May 21, 2026 | Paula Green | Sell S | 1.4K | $74.5K |
| May 21, 2026 | Patrick John Finn KEY | Sell S | 4.2K | $221.5K |
| May 21, 2026 | Dennis Cho KEY | Sell S | 1.6K | $87.4K |
| May 12, 2026 | Jan Johannessen | Exercise M | 12.0K | $0 |
| May 12, 2026 | Jan Johannessen | Sell S | 12.0K | $673.4K |
| May 12, 2026 | Jan Johannessen | Exercise M | 12.0K | $168.0K |
| May 8, 2026 | Robert F. Werner | Sell S | 5.0K | $282.2K |
| May 4, 2026 | Robert F. Werner | Sell S | 164 | $9.4K |
| May 4, 2026 | Emily M. Leproust KEY | Sell S | 5.1K | $293.0K |
| May 4, 2026 | Paula Green | Sell S | 1.1K | $63.8K |
| May 4, 2026 | Patrick John Finn KEY | Sell S | 2.8K | $162.5K |
| May 4, 2026 | Dennis Cho KEY | Sell S | 2.0K | $112.1K |
| Apr 27, 2026 | Melissa A. Starovasnik 10b5-1 | Sell S | 500 | $30.9K |
| Apr 23, 2026 | Patrick John Finn KEY | Sell S | 2.3K | $141.0K |
| Apr 22, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 8.1K | $0 |
| Apr 22, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 151 | $10.0K |
| Apr 22, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 7.9K | $516.3K |
| Apr 22, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 8.1K | $71.1K |
| Apr 21, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 1.6K | $0 |
| Apr 21, 2026 | Emily M. Leproust KEY 10b5-1 | Sell S | 1.6K | $104.7K |
| Apr 21, 2026 | Emily M. Leproust KEY 10b5-1 | Exercise M | 1.6K | $14.2K |
| Apr 17, 2026 | Adam Laponis KEY 10b5-1 | Sell S | 4.0K | $240.0K |
| Apr 14, 2026 | Adam Laponis KEY 10b5-1 | Sell S | 3.0K | $165.0K |
| Apr 9, 2026 | Adam Laponis KEY | Sell S | 2.6K | $129.6K |
| Apr 1, 2026 | Melissa A. Starovasnik 10b5-1 | Sell S | 1.0K | $51.0K |
| Mar 20, 2026 | Emily M. Leproust KEY | Sell S | 1.7K | $76.3K |
| Mar 20, 2026 | Paula Green | Sell S | 297 | $13.0K |
| Mar 20, 2026 | Dennis Cho KEY | Sell S | 354 | $15.5K |
| Mar 17, 2026 | Robert Chess 10b5-1 | Exercise M | 10.0K | $0 |
| Mar 17, 2026 | Robert Chess 10b5-1 | Sell S | 10.0K | $470.0K |
| Mar 17, 2026 | Robert Chess 10b5-1 | Exercise M | 10.0K | $118.9K |
| Mar 6, 2026 | Robert F. Werner | Sell S | 246 | $11.4K |
| Mar 6, 2026 | Emily M. Leproust KEY | Sell S | 2.4K | $112.5K |
| Mar 6, 2026 | Paula Green | Sell S | 935 | $43.4K |
| Mar 6, 2026 | Dennis Cho KEY | Sell S | 425 | $19.7K |
| Feb 23, 2026 | Robert F. Werner | Sell S | 1.7K | $79.1K |
| Feb 23, 2026 | Emily M. Leproust KEY | Sell S | 7.2K | $336.5K |
| Feb 23, 2026 | Adam Laponis KEY | Sell S | 2.1K | $97.4K |
| Feb 23, 2026 | Paula Green | Sell S | 1.5K | $68.4K |
| Feb 23, 2026 | Patrick John Finn KEY | Sell S | 4.3K | $200.6K |
| Feb 23, 2026 | Dennis Cho KEY | Sell S | 844 | $39.4K |
| Feb 17, 2026 | Paula Green | Sell S | 39.4K | $2.1M |
| Feb 17, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 18.2K | $0 |
| Feb 17, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 32.3K | $0 |
| Feb 17, 2026 | Patrick John Finn KEY 10b5-1 | Sell S | 3.5K | $188.1K |
| Feb 17, 2026 | Patrick John Finn KEY 10b5-1 | Sell S | 27.0K | $1.4M |
| Feb 17, 2026 | Patrick John Finn KEY 10b5-1 | Sell S | 16.6K | $854.4K |
| Feb 17, 2026 | Patrick John Finn KEY 10b5-1 | Sell S | 21.9K | $1.1M |
| Feb 17, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 32.3K | $861.1K |
| Feb 17, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 18.2K | $424.7K |
| Feb 13, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 500 | $0 |
| Feb 13, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 712 | $0 |
| Feb 13, 2026 | Patrick John Finn KEY 10b5-1 | Sell S | 1.8K | $87.6K |
| Feb 13, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 712 | $19.0K |
| Feb 13, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 500 | $11.7K |
| Feb 13, 2026 | Robert Chess | Sell S | 2.2K | $105.4K |
| Feb 12, 2026 | Adam Laponis KEY 10b5-1 | Sell S | 7.0K | $350.0K |
| Feb 12, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 1.0K | $0 |
| Feb 12, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 1.5K | $0 |
| Feb 12, 2026 | Patrick John Finn KEY 10b5-1 | Sell S | 3.5K | $175.8K |
| Feb 12, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 1.5K | $40.0K |
| Feb 12, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 1.0K | $23.3K |
| Feb 11, 2026 | Dennis Cho KEY 10b5-1 | Sell S | 5.0K | $249.7K |
| Feb 9, 2026 | Robert F. Werner | Other G | 2.0K | $0 |
| Feb 6, 2026 | Jan Johannessen | Sell S | 2.2K | $105.4K |
| Feb 5, 2026 | Melissa A. Starovasnik | Grant A | 5.1K | $0 |
| Feb 5, 2026 | Robert P Ragusa | Grant A | 5.1K | $0 |
| Feb 5, 2026 | Jan Johannessen | Grant A | 5.1K | $0 |
| Feb 5, 2026 | Keith Crandell | Grant A | 5.1K | $0 |
| Feb 5, 2026 | Robert Chess | Grant A | 5.1K | $0 |
| Feb 4, 2026 | Robert F. Werner | Sell S | 7.0K | $319.5K |
| Feb 3, 2026 | Robert F. Werner | Sell S | 175 | $8.2K |
| Feb 3, 2026 | Emily M. Leproust KEY | Sell S | 5.0K | $232.9K |
| Feb 3, 2026 | Paula Green | Sell S | 1.2K | $55.6K |
| Feb 3, 2026 | Patrick John Finn KEY | Sell S | 2.7K | $126.0K |
| Feb 3, 2026 | Dennis Cho KEY | Sell S | 1.1K | $51.2K |
| Jan 23, 2026 | Patrick John Finn KEY | Sell S | 2.4K | $107.3K |
| Jan 13, 2026 | Adam Laponis KEY 10b5-1 | Sell S | 3.0K | $120.0K |
| Jan 13, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 3.3K | $0 |
| Jan 13, 2026 | Patrick John Finn KEY 10b5-1 | Sell S | 23.3K | $931.2K |
| Jan 13, 2026 | Patrick John Finn KEY 10b5-1 | Exercise M | 3.3K | $28.9K |
| Jan 9, 2026 | Adam Laponis KEY | Sell S | 2.7K | $96.5K |
About TWST insider trading
This page tracks insider transactions for Twist Bioscience Corp (TWST) reported to the U.S. Securities and Exchange Commission on Form 4. Corporate insiders — directors, executive officers and beneficial owners of more than 10% of the stock — must disclose their trades within two business days. Open-market purchases (code P) and sales (code S) made at the insider's discretion are the most-watched opportunistic signals, while awards (A), option exercises (M) and tax-withholding (F) reflect compensation rather than conviction. Trades marked 10b5-1 were made under a pre-arranged plan and are considered routine. A cluster buy — several insiders buying within a short window — is historically a stronger bullish indicator than any single trade.