Forman Michael C. purchased ~$1.8M in FS Specialty Lending Fund stock
FS Specialty Lending Fund (FSSL) · Data via SEC EDGAR Form 4
Price Performance · 10 days before → 90 days after trade
▲ = insider buy date
90-day return
-5.3%
Trade Details · Public SEC Filing
Insider
Forman Michael C.
Role
—
Transaction
Open-Market Purchase
Approx. Value
~$1.8M
Trade Date
Nov 26, 2025
Company
FS Specialty Lending Fund
Ticker
FSSLSource
SEC EDGAR Form 4
Why This Trade Stands Out
Strong conviction signal
Scored above average across multiple factors. Roughly 15% of insider trades qualify as Strong.
~$1.8M purchase
Trades over $1M are rare. When insiders put this much of their own money on the line, they tend to have high conviction in their company's direction.
3 insiders traded in the same window
When multiple insiders independently buy within 30 days, it's called a cluster. Studies show clustered insider purchases outperform solo trades significantly, because several people with inside knowledge are reaching the same conclusion.
-5.3% in 90 days
Measured from trade date to 90 days later. We track the performance of every insider trade to identify which insiders consistently make profitable moves.
How good is Forman Michael C. at picking stocks?
Full track record: win rate, average return, and performance vs S&P 500
Forman Michael C. wasn't the only one buying.
3 insiders at FS Specialty Lending Fund traded within the same 30-day window.
See who else bought · FreeOn November 26, 2025, Forman Michael C. — a corporate insider at FS Specialty Lending Fund — filed a Form 4 with the SEC disclosing an open-market purchase of approximately ~$1.8M in FS Specialty Lending Fund (FSSL) stock.
This transaction was part of a cluster — 3 insiders at FS Specialty Lending Fund made open-market purchases within the same 30-day window. Cluster activity from multiple independent insiders is one of the most studied patterns in insider trading research.
Under Section 16(a) of the Securities Exchange Act of 1934, corporate insiders must report all open-market stock transactions to the SEC within two business days. These filings — known as Form 4s — are publicly available on the SEC's EDGAR database. VeritySignals filters and scores the full Form 4 stream to surface high-conviction signals like this one.
In the 90 days following this trade, FSSL returned -5.3%
VeritySignals Conviction Analysis
Full Conviction Analysis
Sign up free to see signal strength details, or upgrade for the full 15-factor breakdown.
Get notified the next time Forman Michael C. trades
Free alerts · No credit card · Instant notification
All data sourced from publicly available SEC Form 4 filings via EDGAR · Not financial advice · Past performance does not guarantee future results.
At a Glance
More FSSL Insider Activity
Forman Michael C.
Mar 10, 2026
~$1.8M
STRONG
Goldstein Richard I
Mar 10, 2026
~$289K
STRONG
Forman Michael C.
Mar 5, 2026
~$639K
VS
Goldstein Richard I
Dec 10, 2025
~$754K
STRONG
How to Read Insider Trades
What is this?
When company executives buy or sell their own stock, they must report it to the SEC within 2 days. These public filings reveal what the people who know the company best are doing with their own money.
Why does it matter?
Insiders can sell for many reasons (taxes, diversification, expenses), but they generally only buy for one: they think the stock is going up. That's why insider purchases are more predictive than sales.
What makes a trade "strong"?
We score trades on 15+ factors: the insider's role (CEO > director), trade size relative to their salary, whether other insiders also bought (clusters), and historical accuracy of the insider.
Never miss a signal
Get notified when high-conviction insiders buy. Free account, no credit card.
Sign up free