2026-08-25: Abu Dhabi Investment Authority (insider) — OFF-MARKET SELL (secondary offering) — $8.3M of JMKE (secondary offering, Form 4, code S) [CORRECTION 2026-08-31: the shares behind this row are already counted by signals id 19415. This filing's own footnote reports them as sold directly by Boardwalk II Aggregator L.P., which is a reporting person on 0001193125-26-368714 and not on this document — so 382,134 sh of the 2,001,323 sh that Boardwalk II Aggregator L.P. sold on 2026-08-25 at $21.85 are being disclosed a second time, by a filer who shares the power to dispose of them rather than holding them. $8.3M is inside the $56.2M that row publishes. THE ROW IS NOT WITHDRAWN AND ITS FIGURE IS NOT WRONG: the disclosure is real and the dispositive interest is real. What it may not do is add breadth, because conviction is a SUM by owner ruling and this money has been summed once already — so its conviction is capped at 1, the cap this feed gives a filing that reports another filer's transactions. 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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