CEO Of Tomi Environmental Solns Purchased $86.99 Thousand In Stock

Dr. Halden S. Shane, Chief Executive Officer at Tomi Environmental Solns TOMZ, made a large insider buy on September 3, according to a new SEC filing.

What Happened: A Form 4 filing from the U.S. Securities and Exchange Commission on Friday showed that Shane purchased 43,282 shares of Tomi Environmental Solns at a price of $2.01 per share. The total transaction amounted to $86,988.

Following the transaction, Shane now owns 3,942,663 shares of the company, worth $9,050,382.

Tomi Environmental Solns shares are trading up 8.79% at $2.3 at the time of this writing on Tuesday afternoon.

The Importance of Insider Transactions

Insider transactions shouldn't be used primarily to make an investing decision, however an insider transaction can be an important factor in the investing decision.

In legal terms, an "insider" refers to any shareholder who owns at least 10% of a company. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, that is an indication that they expect the stock to rise.

Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down.

Important Transaction Codes

Investors prefer focusing on transactions that take place in the open market, indicated in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S indicates a sale. Transaction code C indicates the conversion of an option, and transaction code A indicates the insider may have been forced to sell shares in order to receive compensation that had been promised upon being hired by the company.

To get more information on Dr. Halden S. Shane's previous transactions, check out the insider's net worth page.

See all the latest insider trades for Tomi Environmental Solns on Benzinga's NEW Insider Trading Page!

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