Here are the last 2 Form 4’s filed. Note the date of the first transaction, and the last transaction, and then when it was signed at the bottom. I have never seen that done before. As you stated, 2 business days. So if the CEO was selling shares, how would we know? He can sell his shares anytime he wants to. With regard to the second link, can you imagine the uproar if a big board stock CEO was selling millions of shares, over a span of more than a month, sometimes selling 400,000 to 500,000 shares on multiple days, starting on 02/02/2018 and ending on 03/14/2018, and filing only a single Form 4 on 03/21/2018?
(a) This Form must be filed before the end of the second business day following the day on which a transaction resulting in a change in beneficial ownership has been executed (see Rule 16a-1(a)(2) and Instruction 4 regarding the meaning of “beneficial owner,” and Rule 16a-3(g) regarding determination of the date of execution for specified transactions). This Form and any amendment is deemed filed with the Commission or the Exchange on the date it is received by the Commission or the Exchange, respectively. See, however, Rule 16a-3(h) regarding delivery to a third party business that guarantees delivery of the filing no later than the specified due date.
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