Section 16 of the Exchange Act requires Section 16 insiders to report their beneficial ownership (and changes in ownership) of company securities. Initial ownership and changes in ownership are reported on Form 3, Form 4, or Form 5, as applicable.

Section 16 also requires the disgorgement of any short-swing profits realized by Section 16 insiders from the purchase and sale, or sale and purchase, of equity securities of the company in any period of less than six months.

For more information, see Practice Notes, Section 16 Reporting: Why, How, and When to Do It and Section 16(b) Short-Swing Profit Liability: The Perils of Turning a Quick Profit.