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Technology Stocks : CustomTracks Corporation (CUST) -- Ignore unavailable to you. Want to Upgrade?

To: genejockey who wrote (668)	6/8/1999 11:19:00 PM
From: Rajiv	Read Replies (2) \| Respond to of 2514

You should add a few extra days to allow the filings to hit Edgar. I pulled this from a FAQ - Form 4: Of these three Forms the Form 4 is the most important source of useful insider data, and it deserves a bit more explanation. While Forms 3 and 5 record a snapshot of an insider's holdings of his company's shares, the Form 4 is the dynamic information that gives the best window into the feelings insiders have about their firms' shares. Individuals would do best to spend whatever time and resources they have prospecting through the more useful Form 4 data, and skip over the other two. A Form 4 lists the name of the insider, their relationship to the company, how many shares were traded, and at what price. It also gives the date of the trade, total holdings of the insider after the transaction, and if the trade was open market, related to the exercise of stock options, or for some other special reason. Besides being quite detailed, a Form 4 is also timely. With the deadline for filing being the 10th of the month following the transaction, an insider's trade should take 41 days tops to reach the SEC, and that's only if the insider trades during a 31-day month. Form 4s can, of course, be filed immediately, and some are. However, there is always a predictable bulge in the number of filings around the 10th of the month as insiders rush to meet the deadline. Insiders don't wait until the last minute to be sneaky. The deadline surge is more the result of procrastination. The fact is that filling out a Form 4 is just annoying paperwork for insiders, most of whom are busy executives. Typically, the Form is passed to an equally overloaded secretary or company lawyer to complete, and it is not likely their first priority either. This may explain why some of the From 4s filed the SEC are filled out incorrectly. These mistakes seem to be made as much by highly paid legal counsel as overworked secretaries, and explain why even the most expensive insider database isn't perfect. Another subset of filings also reaches the SEC late. In any given week, Form 4s with trade dates that are months or even a year old betray the largess of insiders or their charges. Again, this is more likely the result of a mistake than intended deceit. Late filers generally don't get more than a slap on the wrist from the SEC if no harm seems to be done. But worse can, and does, happen to late filers. Fortunately, the vast majority of insiders are both diligent and accurate when filing their Form 4s, and they supply the market with high-quality investment information every time they trade their own company's shares.