What counts as a meaningful insider purchase?

There is no fixed legal threshold that makes an insider purchase "meaningful." In practice, investors usually mean a purchase that looks discretionary, economically significant, and unusual.

A purchase is often more meaningful when it: - is an open-market purchase rather than a grant or option event - is made by a senior executive or director - is large relative to the insider’s prior holdings or compensation - is not offset by nearby sales - is unusual for that insider or company - occurs alongside purchases by other insiders

By contrast, grants, conversions, option exercises, and small administrative transactions usually carry less informational value than a sizeable cash purchase in the open market.