GILD
insider transactionsGILEAD SCIENCES, INC. — 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
+3.4M
3.7M buy · 377.3K sell
Net value · 365d
-$51.1M
$2.0M in · $53.1M out
Sentiment · 365d
Net buying
4% buying · 96% selling
Open-market trades · 365d
34
3.7M buy · 377.3K 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
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Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$56.4K
450 sh · $125.40
Own -0%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$132.7K
1.1K sh · $124.00
Own -1%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$182.7K
1.5K sh · $123.42
Own -1%
-
Sell·S
Chief Financial Officer · 10b5-1
$376.2K
3.0K sh · $125.40
Own -2%
-
Exercise·M
Chief Comm & Corp Aff Officer
—
2.8K sh
Own +11%
-
Other·F
Chief Comm & Corp Aff Officer
$162.9K
1.3K sh · $121.48
Own -1%
-
Exercise·M
Chief Comm & Corp Aff Officer
—
2.8K sh
Own +2%
-
Exercise·M
Chairman & CEO
—
8.8K sh
Own +11%
-
Other·F
Chairman & CEO
$511.8K
4.2K sh · $121.48
Own -1%
-
Exercise·M
Chairman & CEO
—
8.8K sh
Own +1%
-
Exercise·M
Chief Financial Officer
—
2.8K sh
Own +11%
-
Other·F
Chief Financial Officer
$162.9K
1.3K sh · $121.48
Own -1%
-
Exercise·M
Chief Financial Officer
—
2.8K sh
Own +2%
-
Exercise·M
EVP Gen Counsel, Legal & Comp
—
589 sh
Own +3%
-
Other·F
EVP Gen Counsel, Legal & Comp
$34.4K
283 sh · $121.48
Own -5%
-
Exercise·M
EVP Gen Counsel, Legal & Comp
—
589 sh
Own +12%
-
Exercise·M
Chief Medical Officer
—
533 sh
Own +1%
-
Other·F
Chief Medical Officer
$31.9K
263 sh · $121.48
Own -1%
-
Exercise·M
Chief Medical Officer
—
533 sh
Own +3%
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Sell·S
Chairman & CEO · 10b5-1
$138.0K
1.0K sh · $132.97
Own -0%
-
Sell·S
Chairman & CEO · 10b5-1
$404.8K
3.1K sh · $132.22
Own -0%
-
Sell·S
Chairman & CEO · 10b5-1
$1.4M
10.9K sh · $131.10
Own -2%
-
Exercise·M
Chief Comm & Corp Aff Officer · 10b5-1
$0
25.0K sh
Own New
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$92.9K
700 sh · $132.75
Own -1%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$1.1M
8.4K sh · $132.23
Own -6%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$1.5M
11.2K sh · $131.19
Own -8%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$1.0M
7.7K sh · $130.29
Own -5%
-
Exercise·M
Chief Comm & Corp Aff Officer · 10b5-1
$1.7M
25.0K sh · $66.64
Own +19%
-
Sell·S
Chief Financial Officer · 10b5-1
$396.8K
3.0K sh · $132.27
Own -2%
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Grant·A
Director
$0
4.9K sh
Own New
-
Grant·A
Director
$0
1.1K sh
Own +22%
-
Grant·A
Director
$0
4.9K sh
Own New
-
Grant·A
Director
$0
1.1K sh
Own +6%
-
Grant·A
Director
$0
4.9K sh
Own New
-
Other·F
Director
$29.3K
224 sh · $130.84
Own -1%
-
Grant·A
Director
$0
1.1K sh
Own +8%
-
Grant·A
Director
$0
4.9K sh
Own New
-
Grant·A
Director
$0
1.1K sh
Own +9%
-
Grant·A
Director
$0
4.9K sh
Own New
-
Grant·A
Director
$0
1.1K sh
Own +10%
-
Grant·A
Director
$0
4.9K sh
Own New
-
Grant·A
Director
$0
1.1K sh
Own +26%
-
Grant·A
Director
$0
4.9K sh
Own New
-
Grant·A
Director
$0
1.1K sh
Own +13%
-
Grant·A
Director
$0
4.9K sh
Own New
-
Grant·A
Director
$0
1.1K sh
Own +4%
-
Sell·S
Chairman & CEO · 10b5-1
$396.5K
3.0K sh · $130.01
Own -0%
-
Sell·S
Chairman & CEO · 10b5-1
$895.1K
7.0K sh · $128.79
Own -1%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$422.9K
3.0K sh · $140.96
Own -2%
-
Sell·S
Chief Financial Officer · 10b5-1
$422.9K
3.0K sh · $140.96
Own -2%
-
Sell·S
Chairman & CEO · 10b5-1
$1.4M
10.0K sh · $136.82
Own -2%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$432.7K
3.0K sh · $144.23
Own -2%
-
Sell·S
Chief Financial Officer · 10b5-1
$432.7K
3.0K sh · $144.23
Own -2%
-
Grant·A
Chief Comm & Corp Aff Officer
$0
35.9K sh
Own New
-
Grant·A
Chief Comm & Corp Aff Officer
—
9.6K sh
Own +46%
-
Exercise·M
Chief Comm & Corp Aff Officer
—
6.6K sh
Own +46%
-
Other·F
Chief Comm & Corp Aff Officer
$477.8K
3.2K sh · $148.56
Own -2%
-
Exercise·M
Chief Comm & Corp Aff Officer
—
6.6K sh
Own +5%
-
Grant·A
Chairman & CEO
$0
122.8K sh
Own New
-
Grant·A
Chairman & CEO
—
32.8K sh
Own +48%
-
Exercise·M
Chairman & CEO
—
20.0K sh
Own +42%
-
Other·F
Chairman & CEO
$1.5M
9.8K sh · $148.56
Own -1%
-
Exercise·M
Chairman & CEO
—
20.0K sh
Own +3%
-
Grant·A
Chief Financial Officer
$0
35.9K sh
Own New
-
Grant·A
Chief Financial Officer
—
9.6K sh
Own +46%
-
Exercise·M
Chief Financial Officer
—
6.5K sh
Own +44%
-
Other·F
Chief Financial Officer
$467.5K
3.1K sh · $148.56
Own -2%
-
Exercise·M
Chief Financial Officer
—
6.5K sh
Own +4%
-
Grant·A
EVP Gen Counsel, Legal & Comp
$0
18.9K sh
Own New
-
Grant·A
EVP Gen Counsel, Legal & Comp
—
5.0K sh
Own +33%
-
Exercise·M
EVP Gen Counsel, Legal & Comp
—
1.2K sh
Own +9%
-
Other·F
EVP Gen Counsel, Legal & Comp
$90.0K
606 sh · $148.56
Own -11%
-
Exercise·M
EVP Gen Counsel, Legal & Comp
—
1.2K sh
Own +28%
-
Grant·A
SVP, Controllership
$0
5.5K sh
Own New
-
Grant·A
SVP, Controllership
—
2.4K sh
Own +26%
-
Grant·A
Chief Medical Officer
$0
31.5K sh
Own New
-
Grant·A
Chief Medical Officer
—
8.4K sh
Own +22%
-
Exercise·M
Chief Medical Officer
—
2.1K sh
Own +6%
-
Other·F
Chief Medical Officer
$157.9K
1.1K sh · $148.56
Own -5%
-
Exercise·M
Chief Medical Officer
—
2.1K sh
Own +12%
-
Grant·A
Chief Comm & Corp Aff Officer
$0
11.1K sh
Own +9%
-
Sell·S
Chairman & CEO · 10b5-1
$14.6K
100 sh · $145.71
Own -0%
-
Sell·S
Chairman & CEO · 10b5-1
$931.9K
6.4K sh · $145.18
Own -1%
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Sell·S
Chairman & CEO · 10b5-1
$501.4K
3.5K sh · $144.04
Own -1%
-
Grant·A
Chairman & CEO · 10b5-1
$0
38.4K sh
Own +6%
-
Grant·A
Chief Financial Officer
$0
11.1K sh
Own +7%
-
Grant·A
EVP Gen Counsel, Legal & Comp
$0
470 sh
Own +12%
-
Grant·A
Chief Medical Officer
$0
8.5K sh
Own +91%
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Exercise·M
Chief Comm & Corp Aff Officer · 10b5-1
$0
25.0K sh
Own +108%
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Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$31.1K
200 sh · $155.62
Own -0%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$1.5M
9.4K sh · $154.91
Own -7%
-
Sell·S
Chief Comm & Corp Aff Officer · 10b5-1
$2.8M
18.4K sh · $154.18
Own -12%
-
Exercise·M
Chief Comm & Corp Aff Officer · 10b5-1
$1.7M
25.0K sh · $66.64
Own +20%
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Sell·S
Chief Financial Officer · 10b5-1
$463.3K
3.0K sh · $154.43
Own -2%
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Buy·P
10% Owner
$2.0M
3.7M sh · $0.53
Own +10%
-
Exercise·M
Chairman & CEO · 10b5-1
$0
115.6K sh
Own New
-
Sell·S
Chairman & CEO · 10b5-1
$17.3M
115.6K sh · $150.00
Own -16%
-
Exercise·M
Chairman & CEO · 10b5-1
$7.6M
115.6K sh · $66.01
Own +19%
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Other·F
Chief Comm & Corp Aff Officer
$3.6M
24.8K sh · $143.28
Own -17%
-
Grant·A
Chief Comm & Corp Aff Officer
$0
44.9K sh
Own +43%
-
Other·F
Chairman & CEO
$10.7M
74.5K sh · $143.28
Own -11%
-
Grant·A
Chairman & CEO
$0
131.7K sh
Own +24%
-
Other·F
Chief Financial Officer
$3.6M
24.8K sh · $143.28
Own -13%
-
Grant·A
Chief Financial Officer
$0
44.9K sh
Own +30%
-
Sell·S
Chairman & CEO · 10b5-1
$696.7K
5.0K sh · $140.24
Own -1%
-
Sell·S
Chairman & CEO · 10b5-1
$702.2K
5.0K sh · $139.54
Own -1%
-
Exercise·M
Chairman & CEO · 10b5-1
$0
115.6K sh
Own New
-
Sell·S
Chairman & CEO · 10b5-1
$15.6M
115.6K sh · $135.00
Own -17%
-
Exercise·M
Chairman & CEO · 10b5-1
$7.6M
115.6K sh · $66.01
Own +20%
-
Exercise·M
Director · 10b5-1
$0
5.0K sh
Own New
-
Sell·S
Director · 10b5-1
$617.5K
5.0K sh · $123.50
Own -36%
-
Exercise·M
Director · 10b5-1
$337.2K
5.0K sh · $67.45
Own +56%
-
Sell·S
Chief Commercial Officer · 10b5-1
$372.9K
3.0K sh · $124.31
Own -3%
-
Sell·S
Chief Financial Officer · 10b5-1
$372.9K
3.0K sh · $124.31
Own -2%
-
Exercise·M
Chief Medical Officer
—
16.3K sh
Own +66%
-
Other·F
Chief Medical Officer
$844.4K
6.9K sh · $121.60
Own -43%
-
Exercise·M
Chief Medical Officer
—
16.3K sh
Own New
| Date▾ | Insider | Type | Shares | Value |
|---|---|---|---|---|
| Jun 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 450 | $56.4K |
| Jun 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 1.1K | $132.7K |
| Jun 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 1.5K | $182.7K |
| Jun 15, 2026 | Andrew D Dickinson KEY 10b5-1 | Sell S | 3.0K | $376.2K |
| Jun 10, 2026 | Johanna Mercier | Exercise M | 2.8K | — |
| Jun 10, 2026 | Johanna Mercier | Other F | 1.3K | $162.9K |
| Jun 10, 2026 | Johanna Mercier | Exercise M | 2.8K | — |
| Jun 10, 2026 | O'Day Daniel Patrick KEY | Exercise M | 8.8K | — |
| Jun 10, 2026 | O'Day Daniel Patrick KEY | Other F | 4.2K | $511.8K |
| Jun 10, 2026 | O'Day Daniel Patrick KEY | Exercise M | 8.8K | — |
| Jun 10, 2026 | Andrew D Dickinson KEY | Exercise M | 2.8K | — |
| Jun 10, 2026 | Andrew D Dickinson KEY | Other F | 1.3K | $162.9K |
| Jun 10, 2026 | Andrew D Dickinson KEY | Exercise M | 2.8K | — |
| Jun 10, 2026 | Wettan Keeley M Cain | Exercise M | 589 | — |
| Jun 10, 2026 | Wettan Keeley M Cain | Other F | 283 | $34.4K |
| Jun 10, 2026 | Wettan Keeley M Cain | Exercise M | 589 | — |
| Jun 10, 2026 | Dietmar Berger | Exercise M | 533 | — |
| Jun 10, 2026 | Dietmar Berger | Other F | 263 | $31.9K |
| Jun 10, 2026 | Dietmar Berger | Exercise M | 533 | — |
| Jun 1, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 1.0K | $138.0K |
| Jun 1, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 3.1K | $404.8K |
| Jun 1, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 10.9K | $1.4M |
| May 15, 2026 | Johanna Mercier 10b5-1 | Exercise M | 25.0K | $0 |
| May 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 700 | $92.9K |
| May 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 8.4K | $1.1M |
| May 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 11.2K | $1.5M |
| May 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 7.7K | $1.0M |
| May 15, 2026 | Johanna Mercier 10b5-1 | Exercise M | 25.0K | $1.7M |
| May 15, 2026 | Andrew D Dickinson KEY 10b5-1 | Sell S | 3.0K | $396.8K |
| Apr 30, 2026 | Sandra Horning | Grant A | 4.9K | $0 |
| Apr 30, 2026 | Sandra Horning | Grant A | 1.1K | $0 |
| Apr 30, 2026 | Kelly A. Kramer | Grant A | 4.9K | $0 |
| Apr 30, 2026 | Kelly A. Kramer | Grant A | 1.1K | $0 |
| Apr 30, 2026 | Harish Manwani | Grant A | 4.9K | $0 |
| Apr 30, 2026 | Harish Manwani | Other F | 224 | $29.3K |
| Apr 30, 2026 | Harish Manwani | Grant A | 1.1K | $0 |
| Apr 30, 2026 | Javier Rodriguez | Grant A | 4.9K | $0 |
| Apr 30, 2026 | Javier Rodriguez | Grant A | 1.1K | $0 |
| Apr 30, 2026 | Anthony Welters | Grant A | 4.9K | $0 |
| Apr 30, 2026 | Anthony Welters | Grant A | 1.1K | $0 |
| Apr 30, 2026 | Ted W Love | Grant A | 4.9K | $0 |
| Apr 30, 2026 | Ted W Love | Grant A | 1.1K | $0 |
| Apr 30, 2026 | Jeffrey Bluestone | Grant A | 4.9K | $0 |
| Apr 30, 2026 | Jeffrey Bluestone | Grant A | 1.1K | $0 |
| Apr 30, 2026 | Jacqueline K Barton | Grant A | 4.9K | $0 |
| Apr 30, 2026 | Jacqueline K Barton | Grant A | 1.1K | $0 |
| Apr 28, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 3.0K | $396.5K |
| Apr 28, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 7.0K | $895.1K |
| Apr 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 3.0K | $422.9K |
| Apr 15, 2026 | Andrew D Dickinson KEY 10b5-1 | Sell S | 3.0K | $422.9K |
| Mar 27, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 10.0K | $1.4M |
| Mar 16, 2026 | Johanna Mercier 10b5-1 | Sell S | 3.0K | $432.7K |
| Mar 16, 2026 | Andrew D Dickinson KEY 10b5-1 | Sell S | 3.0K | $432.7K |
| Mar 10, 2026 | Johanna Mercier | Grant A | 35.9K | $0 |
| Mar 10, 2026 | Johanna Mercier | Grant A | 9.6K | — |
| Mar 10, 2026 | Johanna Mercier | Exercise M | 6.6K | — |
| Mar 10, 2026 | Johanna Mercier | Other F | 3.2K | $477.8K |
| Mar 10, 2026 | Johanna Mercier | Exercise M | 6.6K | — |
| Mar 10, 2026 | O'Day Daniel Patrick KEY | Grant A | 122.8K | $0 |
| Mar 10, 2026 | O'Day Daniel Patrick KEY | Grant A | 32.8K | — |
| Mar 10, 2026 | O'Day Daniel Patrick KEY | Exercise M | 20.0K | — |
| Mar 10, 2026 | O'Day Daniel Patrick KEY | Other F | 9.8K | $1.5M |
| Mar 10, 2026 | O'Day Daniel Patrick KEY | Exercise M | 20.0K | — |
| Mar 10, 2026 | Andrew D Dickinson KEY | Grant A | 35.9K | $0 |
| Mar 10, 2026 | Andrew D Dickinson KEY | Grant A | 9.6K | — |
| Mar 10, 2026 | Andrew D Dickinson KEY | Exercise M | 6.5K | — |
| Mar 10, 2026 | Andrew D Dickinson KEY | Other F | 3.1K | $467.5K |
| Mar 10, 2026 | Andrew D Dickinson KEY | Exercise M | 6.5K | — |
| Mar 10, 2026 | Wettan Keeley M Cain | Grant A | 18.9K | $0 |
| Mar 10, 2026 | Wettan Keeley M Cain | Grant A | 5.0K | — |
| Mar 10, 2026 | Wettan Keeley M Cain | Exercise M | 1.2K | — |
| Mar 10, 2026 | Wettan Keeley M Cain | Other F | 606 | $90.0K |
| Mar 10, 2026 | Wettan Keeley M Cain | Exercise M | 1.2K | — |
| Mar 10, 2026 | Erin Burkhart | Grant A | 5.5K | $0 |
| Mar 10, 2026 | Erin Burkhart | Grant A | 2.4K | — |
| Mar 10, 2026 | Dietmar Berger | Grant A | 31.5K | $0 |
| Mar 10, 2026 | Dietmar Berger | Grant A | 8.4K | — |
| Mar 10, 2026 | Dietmar Berger | Exercise M | 2.1K | — |
| Mar 10, 2026 | Dietmar Berger | Other F | 1.1K | $157.9K |
| Mar 10, 2026 | Dietmar Berger | Exercise M | 2.1K | — |
| Feb 27, 2026 | Johanna Mercier | Grant A | 11.1K | $0 |
| Feb 27, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 100 | $14.6K |
| Feb 27, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 6.4K | $931.9K |
| Feb 27, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 3.5K | $501.4K |
| Feb 27, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Grant A | 38.4K | $0 |
| Feb 27, 2026 | Andrew D Dickinson KEY | Grant A | 11.1K | $0 |
| Feb 27, 2026 | Wettan Keeley M Cain | Grant A | 470 | $0 |
| Feb 27, 2026 | Dietmar Berger | Grant A | 8.5K | $0 |
| Feb 17, 2026 | Johanna Mercier 10b5-1 | Exercise M | 25.0K | $0 |
| Feb 17, 2026 | Johanna Mercier 10b5-1 | Sell S | 200 | $31.1K |
| Feb 17, 2026 | Johanna Mercier 10b5-1 | Sell S | 9.4K | $1.5M |
| Feb 17, 2026 | Johanna Mercier 10b5-1 | Sell S | 18.4K | $2.8M |
| Feb 17, 2026 | Johanna Mercier 10b5-1 | Exercise M | 25.0K | $1.7M |
| Feb 17, 2026 | Andrew D Dickinson KEY 10b5-1 | Sell S | 3.0K | $463.3K |
| Feb 13, 2026 | GILEAD SCIENCES, INC. | Buy P | 3.7M | $2.0M |
| Feb 5, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Exercise M | 115.6K | $0 |
| Feb 5, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 115.6K | $17.3M |
| Feb 5, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Exercise M | 115.6K | $7.6M |
| Feb 3, 2026 | Johanna Mercier | Other F | 24.8K | $3.6M |
| Feb 3, 2026 | Johanna Mercier | Grant A | 44.9K | $0 |
| Feb 3, 2026 | O'Day Daniel Patrick KEY | Other F | 74.5K | $10.7M |
| Feb 3, 2026 | O'Day Daniel Patrick KEY | Grant A | 131.7K | $0 |
| Feb 3, 2026 | Andrew D Dickinson KEY | Other F | 24.8K | $3.6M |
| Feb 3, 2026 | Andrew D Dickinson KEY | Grant A | 44.9K | $0 |
| Jan 28, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 5.0K | $696.7K |
| Jan 28, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 5.0K | $702.2K |
| Jan 23, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Exercise M | 115.6K | $0 |
| Jan 23, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Sell S | 115.6K | $15.6M |
| Jan 23, 2026 | O'Day Daniel Patrick KEY 10b5-1 | Exercise M | 115.6K | $7.6M |
| Jan 20, 2026 | Jeffrey Bluestone 10b5-1 | Exercise M | 5.0K | $0 |
| Jan 20, 2026 | Jeffrey Bluestone 10b5-1 | Sell S | 5.0K | $617.5K |
| Jan 20, 2026 | Jeffrey Bluestone 10b5-1 | Exercise M | 5.0K | $337.2K |
| Jan 15, 2026 | Johanna Mercier 10b5-1 | Sell S | 3.0K | $372.9K |
| Jan 15, 2026 | Andrew D Dickinson KEY 10b5-1 | Sell S | 3.0K | $372.9K |
| Jan 2, 2026 | Dietmar Berger | Exercise M | 16.3K | — |
| Jan 2, 2026 | Dietmar Berger | Other F | 6.9K | $844.4K |
| Jan 2, 2026 | Dietmar Berger | Exercise M | 16.3K | — |
About GILD insider trading
This page tracks insider transactions for GILEAD SCIENCES, INC. (GILD) 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.