2026-08-25: Orszag Peter Richard (Director, CEO & Chairman) — scheduled sell (10b5-1 plan) — $5.4M of LAZ (open-market, Form 4, code S) [10b5-1 plan] [acquired-and-sold: sold 125,000 sh, all of them acquired the day before at no cost to the filer — so $5.4M gross is $5.4M net; 50,000 more acquired and kept after 75,000 returned to the issuer (code D) — the held position ROSE on the day] [CORRECTION 2026-08-29: shape sweep — the sentence said shares were KEPT that the filing disposes of — a Rule 16b-3(e) return to the issuer under code D, which no branch of the parser read. Re-derived from the filing under the fixed parser. Original text in signal_events]
Direction (BULLISH/BEARISH) classifies the event, not the price. It is not a forecast, and no scout's direction has been validated as predictive.
Conviction
Confidence is a heuristic conviction score, not a calibrated probability. On a single filing it is the scout's own 1-5 grade; on a row that rolls several filings together it is their SUM and has no ceiling, so it can read above 5. The stored number is published as it stands — never clamped, never hidden.
Dates
Dates are rendered exactly as filed. A sibyl row leads with the TRADE date the Form 4 reports; a pelosi row shows the member's trade date and the date the disclosure was filed, which are rarely the same day. "Flagged" is the day this feed first published the row.
Backfilled rows
A row marked "already old news when flagged" reached the feed after the fact. It is a record of a filing, not of a timely catch.
Sources
Every row links to the filing it was read from — an SEC Form 4 on EDGAR,
or the disclosure document filed with the House Clerk or the Senate. A row whose source
document this feed cannot link to is left off it.
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