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Insider Sale Insider Sale May 1, 2020

Goon Fay Sien sold ~$95M in ServiceNow, Inc. stock

ServiceNow, Inc. (NOW)  ·  Principal Accounting Officer  ·  Data via SEC EDGAR Form 4

Verity Signals Research Published Updated

= insider buy date

90-day return

+27.1%

vs SPY +15.1%

NOW price after insider trade by Goon Fay Sien

Insider

Goon Fay Sien

Role

Principal Accounting Officer

Transaction

Open-Market Sale

Approx. Value

~$95M

Trade Date

May 1, 2020

Company

ServiceNow, Inc.

Ticker

NOW

Source

SEC EDGAR Form 4

Strong conviction signal

Scored above average across multiple factors. Roughly 15% of insider trades qualify as Strong.

~$95M sale

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.

Principal Accounting Officer

Corporate insiders must file trades with the SEC within 2 business days. Their unique access to non-public information makes these filings valuable data points.

5 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.

+27.1% in 90 days (S&P 500: +15.1%)

This trade beat the S&P 500 by 12.0 percentage points over 90 days. We track performance on every insider trade so you can see who consistently outperforms.

GF

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5

Goon Fay Sien wasn't the only one selling.

5 insiders at ServiceNow, Inc. traded within the same 30-day window.

See who else bought · Free

On May 1, 2020, Goon Fay Sien — Principal Accounting Officer of ServiceNow, Inc. — filed a Form 4 with the SEC disclosing an open-market sale of approximately ~$95M in ServiceNow, Inc. (NOW) stock.

This transaction was part of a cluster — 5 insiders at ServiceNow, Inc. made open-market sales 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, NOW returned +27.1% versus +15.1% for the S&P 500 over the same period.

Full Conviction Analysis

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All data sourced from publicly available SEC Form 4 filings via EDGAR · Not financial advice · Past performance does not guarantee future results.

Signal strength Strong
Trade size ~$95M
Insider role Principal Accounting Officer
Cluster 5 insiders
90-day return +27.1%
vs S&P 500 +12.0%

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.

Read our full methodology →

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