Who are insiders?

The definition of an insider can vary slightly depending on the jurisdiction and the specific regulations in place, but generally, insiders include individuals who have access to nonpublic information about a company. The following categories of individuals are commonly considered insiders:

• Officers: This includes top executives such as the CEO (Chief Executive Officer), CFO (Chief Financial Officer), COO (Chief Operating Officer), and other high-ranking officers.
• Directors: Members of a company's board of directors are often considered insiders. This includes both executive directors (who are also officers of the company) and non-executive directors.
• Employees: Some employees, especially those in key positions or with access to sensitive information, may be classified as insiders. This can include individuals in finance, legal, research and development, and other departments.
• Major Shareholders: Individuals or entities that hold a significant percentage of a company's shares may be considered insiders, especially if they have access to nonpublic information.